- The company’s second quarter 2019 financial results included a $5.9 million revenue milestone
- IONIC Brands has tapped into Nevada’s cannabis market with its acquisition of Vegas Valley Growers North, adding production facilities, four state licenses and a popular vape brand to its portfolio
- Retail consumer appeal is propelling concentrates toward a forecast $8 billion in retail sales by 2022, outpacing growth in traditional flower sales
National cannabis holding company IONIC Brands Corp. (CSE: IONC) (OTC: IONKF) (FRA: IB3), formerly Zara Resources Inc., capped off the first half of 2019 with record financial results, achieving a milestone of $5.9 million in revenue, as the company reported in its last release (http://cnw.fm/8Ueu8). IONIC also completed a concurrent brokered and non-brokered debenture unit offering, raising gross proceeds of approximately C$20 million, per a news release.
“We are very pleased with our second quarter financial results, achieving our focus of increasing sales growth while closing a successful financing for various strategic business acquisitions all in a span of three months,” John Gorst, chairman and CEO of IONIC Brands, stated in a news release.
IONIC’s product line includes six cannabis oil formulas labeled IONIC Black, Black 50/50, IONIC White, White 50/50, Cask Oil and IONIC Pure, each of which now provides three distinctive mood offerings formulated for curated and consistent recreational use experiences, including SOCIAL (Hybrid), RELAX (Indica) and FOCUS (Sativa). The mood enhancements serve the purposes that their names suggest, promoting rich sociability, serene relaxation and enlightened creativity (http://cnw.fm/gVv5O).
Several transformational acquisitions were recently completed, adding to IONIC’s multistate portfolio of award-winning cannabis brands, Gorst added. The purchase of Vegas Valley Growers North (“VVG”), a Las Vegas-based, state-licensed cultivation and manufacturing firm for medical and recreational cannabis, brings to IONIC a vertically-integrated, cash-flow positive opportunity for additional projected 2019 revenue of $6.6 million, as well as expected gross profits of $3.1 million and EBITDA of $2 million, the company stated in a news release (http://cnw.fm/sU4K7).
The acquisition of Washington-based Natural Extractions Inc. (d/b/a Zoots Premium Cannabis Infused Edibles) expands IONIC’s market segments to the popular edibles space and expands the company’s distribution network throughout the U.S. (http://cnw.fm/nDtQ6). IONIC is also entering the infused beverage market by securing U.S. patents issued to Canna Café that are related to cannabinoid-infused coffee and CBD-infused coffee in a Keurig(R) K-Cup(R) Pod, opening up an estimated $4.5 billion market opportunity.
“Securing these patents is a great foundation for IONIC Brands to enter into the cannabis-infused beverage industry and is complementary to our current premium luxury cannabinoid products,” Gorst stated in a news release (http://cnw.fm/sj8E3). “We also see substantial development potential of new revenue streams through licensing infused coffee and tea brand partnerships.”
With a focus on quality, responsibility and respectability, IONIC’s product lines are pioneering the changing landscape of cannabis consumption. In 2018, IONIC was voted one of the ‘Top 50 Companies to Work for in Cannabis’ by MG Magazine, a publication serving cannabis industry professionals.
For more information, visit the company’s website at www.IONIC.social
NOTE TO INVESTORS: The latest news and updates relating to IONKF are available in the company’s newsroom at http://cnw.fm/IONC
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