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VAUGHAN, ON, June 3, 2019 /CNW/ - Ignite International Brands, Ltd. ("Ignite" or the "Company") is pleased to announce that, further to its news release of May 30, 2019, Ignite has received final approval of the Canadian Securities Exchange (the "CSE") for the previously announced business combination (the "Business Combination") between Ignite and Ignite International, Ltd. The Company anticipates that trading of the subordinate voting shares of Ignite will commence on the CSE on June 4, 2019 under the ticker symbol "BILZ".
Jim McCormick, President of Ignite, stated, "We are certainly pleased that our subordinate voting shares will commence trading on the CSE tomorrow following the reorganization of the Ignite corporate structure into one business entity. This will facilitate the execution of our long term strategy and we appreciate the patience of shareholders during the process."
Ignite is a CSE-listed vertically-integrated company operating in the cannabis industry. Ignite intends to expand its business, which currently includes branding, marketing, licensing, sales and distribution, across additional legal jurisdictions in the United States and into international jurisdictions, across multiple product applications. Ignite intends to effect this expansion through brand leverage, product development, targeted marketing and strategic supply chain partnerships in each of the target jurisdictions.
THE CANADIAN SECURITIES EXCHANGE (CSE) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the commencement of trade of the Ignite subordinate voting shares on the CSE and the Company's intended business focus and strategy. Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; ability of the Company to give effect to its business plan; reliance on Dan Bilzerian and the "IGNITE" brand which may not prove to be as successful as contemplated; the ability to and risks associated with unlocking future licensing opportunities with the "IGNITE" brand, building a global cannabis brand and the ability of the Company to capture significant market share; ability to source and secure companies or businesses to acquire and risks related to the acquisition of such companies or businesses; and the uncertainties surrounding the cannabis industry in North America and internationally. There can be no assurance that any of the forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether because of new information, future events or otherwise, except as required by law.
SOURCE Ignite International Brands, Ltd.
For further information: Eddie Mattei, Tel: (905) 669-0623, Email: [email protected]