Wall Street Signals: Ionic Brands Announces Non-Binding LOI for a Transformational Business Combination to Create Operations Focused Industry Leader

Ionic Brands Announces Non-Binding LOI for a Transformational Business Combination to Create Operations Focused Industry Leader

 

Ionic Brands Corp. ("Ionic" or the "Company") (CSE: IONC)(FSE: IB3)(OTCQB: IONKF) is pleased to announce that they have signed a non-binding letter agreement (the "Interim Agreement") pursuant to which Ionic has agreed to an all-stock reverse takeover transaction (the "Transaction") with a Canadian LP (the "LP"). Subject to the approval of the Canadian Securities Exchange (the "CSE"), the resulting company will continue to trade on the CSE. The Interim Agreement will be superseded by a definitive agreement (the "Definitive Agreement") governing the Transaction.

The resulting company will represent a new standard for operational excellence and integrity in both the US and Canada under one umbrella within the cannabis industry. It will be comprised of a proven management team with operational experience in cultivation, extraction, and derivative products.

The resulting company will own, operate and manage multiple existing cultivation and production facilities in Oregon and Canada while working with exclusive partners in Washington to sell and distribute the resulting company's brands.

Pursuant to the Interim Agreement, the shareholders of LP will be entitled to receive a fixed ratio of Ionic common shares such that the shareholder ratio will proportionally equal 1:11.5 Ionic shareholders to LP shareholders on the closing of the business combination. It is also expected that Ionic would consolidate its shares prior to the closing of the contemplated Transaction.

Upon closing of the Transaction, the board of directors of the resulting company is expected to comprise five (5) directors.

The Transaction will close according to the terms of the Definitive Agreement. Closing of the Transaction is subject to the receipt of applicable regulatory approvals and shareholder approvals. There can be no assurances that the Transaction will be completed as proposed or at all.

Ionic is being advised by McMillan LLP and Clarus Securities Inc.

About Ionic Brands Corp.

IONIC BRANDS Corp. is committed to building a territorially based multi-state purchaser-centered weed concentrate brand portfolio with solid roots in the premium and extravagance sections of vape concentrates and edibles. The foundation brand of the portfolio, IONIC, is a top vaporizer brand in Washington State alongside its economy image Fabulous and has forcefully extended all through the Pacific Northwest of the United States. The brand is at present working in Washington and Oregon. IONIC BRANDS' system is to be the head of the greatest worth portions of the pot market.

Ionic Brands Corp.
John Gorst, CEO (253) 682-8392