IONIC Brands Announces Private Placement
IONIC Brands Corp. (CSE:IONC)(OTC PINK:IONKF) announced a non-brokered private placement of up to 52,631,579 units at a price of CDN$0.19 per unit, aiming to raise approximately CDN$10 million. Each unit consists of one common share and one warrant, allowing the purchase of shares at CDN$0.30 each for five years. Proceeds will be used for general corporate and expansion purposes. The offering is subject to conditions and may include finder’s fees. The company aims to enhance its position as a multi-state operator in the Pacific Northwest.
- Private placement aims to raise up to CDN$10 million for growth.
- Issue of warrants could enhance shareholder value if exercised.
- Strategic focus on becoming a dominant multi-state operator in a high-value market.
- The offering may lead to shareholder dilution if new shares are issued.
- Dependence on market conditions and regulatory approvals may delay funding.
VANCOUVER, BC / ACCESSWIRE / February 4, 2021 / IONIC Brands Corp. (CSE:IONC)(FSE:IB3)(OTC PINK:IONKF) ("IONIC BRANDS" or the "Company") is pleased to announce it is undertaking a non-brokered private placement of up to 52,631,579 units (the "Units") at a price of CDN
The Company may pay finder's fees and/or commissions to eligible persons in connection with the Offering in accordance with applicable securities laws and the policies of the Canadian Securities Exchange (the "CSE").
The net proceeds of the Offering will be used for general corporate and expansion purposes.
In accordance with applicable securities laws, all securities issued under the Offering will be subject to a four month and one day hold period from the date of issuance. Closing of the Offering is subject to certain conditions customary for transactions of this nature, including, but not limited to, the receipt of all necessary approvals, including the approval of the CSE.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities of the Company have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any common shares in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
Ionic Brands, Chairman and CEO, John P. Gorst, stated, "We are very pleased that we will now be properly funded to allow Management to execute on its newly revised strategy of becoming a dominant regional Multi State Operator in the Pacific Northwest region."
About IONIC BRANDS CORP.
The Company is dedicated to building a regionally based multi-state consumer-focused cannabis concentrate brand portfolio with strong roots in the premium and luxury segments of vape concentrates and edibles. The cornerstone Brand of the portfolio, IONIC, is a top vape product along with our economy vaporizer brand Dabulous in Washington State, and has aggressively expanded throughout the Pacific Northwest of the United States. The brand is currently operating in Washington and Oregon. IONIC BRANDS' strategy is to be the leader of the highest-value segments of the cannabis market.
On behalf of IONIC BRANDS CORP.
John Gorst
Chief Executive Officer & Chairman
To stay better informed with the current events of the company you can join our investor community at https://www.ionicbrands.com/investor-community.
For more information visit www.ionicbrands.com or contact:
John Gorst
investor.relations@ionicbrands.com
+1.253.248.7927
CAUTION REGARDING FORWARD-LOOKING INFORMATION
Certain statements contained in this news release may constitute forward‐looking information. Forward‐looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The Company's actual results could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward‐looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents the Company's expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
The Canadian Securities Exchange has not in any way passed upon the merits of the Offering proposed herein and has neither approved nor disapproved the contents of this press release.
SOURCE: IONIC Brands Corp.
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