IONIC BRANDS CORP - IONKF STOCK NEWS

IONIC BRANDS CORP. (CSE:IONC)(OTC PINK:IONKF) has issued its monthly report highlighting strong brand performance in the Pacific Northwest for April 2021. The company reported total revenue of $2,783,044, driven by the newly acquired Cowlitz Country Cannabis brand portfolio. Notably, the flower category contributed $1,618,000 to total sales. CEO John Gorst emphasized the company's focus on profitability and operational improvements. The company also aims to strengthen its market presence through strategic partnerships, including recent collaborations in Massachusetts.

IONIC Brands Corp. has executed a License Agreement with REPS JAPAN Co. Ltd. for exclusive rights to produce and distribute CBD vape products in Japan under the IONIC brand. This partnership follows three years of market research and development. Initial product launch includes the IONIC Black Line Disposable Vape Pen, containing 40% hemp-derived CBD. Distribution will occur through offline shops in Okinawa and Tokyo, and online via major CBD e-commerce platforms. This marks IONIC's first international licensing agreement, targeting a fast-growing but less saturated CBD market in Japan.

IONIC Brands Corp. announced the appointment of Nicole Rusaw as Chief Financial Officer, effective June 1, 2021. Ms. Rusaw brings nearly 20 years of public company experience in biotech, pharmaceuticals, and the cannabis sector. She will succeed Dan Devlin, who will return to his role as Chief Operating Officer. CEO John Gorst expressed confidence in Ms. Rusaw's ability to drive the company's expansion strategy and achieve positive EBITDA and cash flow soon. IONIC Brands focuses on premium and luxury cannabis products in the Pacific Northwest.

Ionic Brands Corp. has announced the conversion of approximately $15.09 million in convertible debentures into equity-based preferred shares. This move improves the company's balance sheet and liquidity significantly. The conversion will create around 59.83 million Series D Voting Preferred Shares at $0.30 each, effective from April 30, 2021. The firm continues to work on restructuring for future growth, focusing on premium cannabis products. Chairman John P. Gorst emphasized the support of debtholders in this strategic shift, aimed at enhancing long-term value for shareholders.

IONIC BRANDS CORP. (CSE:IONC) has entered a License and Marketing Agreement with Berkshire Welco, allowing the latter to distribute IONIC's cannabis consumables in Massachusetts. The collaboration aims for early Spring 2021 product launches, including IONIC's prerolls and edibles. IONIC will also introduce products from Berkshire Welco to Washington and Oregon as part of its expansion strategy. Chairman John P. Gorst emphasized the importance of this partnership in enhancing brand presence and equity along the East Coast.

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.

IONIC Brands Corp. has applied to the Ontario Securities Commission (OSC) for a full revocation of the failure-to-file cease trade order (FFCTO) issued on June 22, 2020. This order stemmed from the Company's failure to file annual financial statements for the year ending December 31, 2019, leading to a suspension of trading by the Canadian Securities Exchange (CSE). The Company has since completed audits and filed the necessary financial statements. There are no guarantees that the OSC will grant the revocation, but IONIC Brands expresses appreciation for shareholder patience during this process.

IONIC BRANDS CORP. announces the temporary discontinuation of its Directors and Officers (D&O) Insurance policy due to high premium costs as of July 1, 2020. In conjunction with this decision, the Company is reducing its Board from seven to five members, with two Directors resigning voluntarily. The CEO expressed gratitude for their past contributions and hopes to reinstate the D&O Insurance in Q4 2020 while evaluating potential new Board members. Ionic Brands operates in the cannabis market, focusing on premium vape concentrates and edibles.

IONIC BRANDS has provided an update on its financial filing status, addressing the delays caused by COVID-19. A cease trade order was issued by the Ontario Securities Commission on June 23, 2020, due to late filings. The company aims to complete its audit for the year ended December 31, 2019, and subsequent quarterly filings by September 15, 2020. CEO John Gorst reassured shareholders about the commitment to resolve the delays. IONIC BRANDS is focused on expanding its cannabis concentrate brand portfolio, particularly in Washington and Oregon.