goldboyz2 wrote: I wonder if were going to get some movement in the Sp ?!
TACOMA, WA / ACCESSWIRE / April 20, 2021 / IONIC BRANDS CORP. (CSE:IONC) (OTC PINK:IONKD) (FRA:1B3) ("IONIC BRANDS" or the "Company"), a regional manufacturer of innovative cannabis consumables and concentrate extract products, is pleased to announce that together with M2 Partners, LLC, has executed a License and Marketing Agreement ("LMA") granting Berkshire Welco, d/b/a THE PASS, a Massachusetts based Recreational Cannabis Manufacturer with endorsements to produce, manufacture and distribute Edibles, Extracts, Topicals, Concentrates, and Industrial Hemp, the sole and exclusive distribution rights to license all brands and products within the IONIC BRANDS portfolio. The companies are targeting an early Spring 2021 timeframe for product availability in retailers across Massachusetts and will likely offer IONIC White & IONIC Black Infused Prerolls, WICKED Infused Prerolls, IONIC Black, Full Spectrum Cannabis Oil Vape Cartridges, and selected edibles from the well-known, ZOOTS Brand, including ZootDrops & ZootRocks.
Furthermore, IONIC BRANDS will be bringing certain products produced by THE PASS to the Washington and Oregon markets as part of the Company's brand expansion strategy. IONIC BRANDS is constantly looking for best of breed products to introduce into the markets it serves. The Company remains extremely impressed with the quality of THE PASS product lines, and believes THE PASS products will round out the IONIC BRANDS' portfolio, providing a greater sales opportunity in the flower segment of cannabis sales.
IONIC BRANDS Chairman and CEO, John P. Gorst, commented, "The partnership with M2 and subsequent launch in Massachusetts with THE PASS marks another exciting step forward for the IONIC BRANDS 2.0 plan. We are enthusiastic for the future and where this newest group of partners will take IONIC BRANDS. We will continue our licensing strategy down the east coast for the balance of 2021, expanding our brand equity. We will continue evaluating additional brands to bring to the Pacific Northwest markets, as well as, finding the best of breed products."
Chris Weld, CEO of THE PASS was quoted; "It is not often that an opportunity comes around to work with people who share a similar vision and like mindedness with attention to details . Berkshire Welco is thrilled to have found such an opportunity with this newly forged partnership. We feel that the synergy is palpable and we are looking forward to seeing many great things come to fruition from our present and future collaborations."
LongTbuffet wrote: IONIC BRANDS ANNOUNCES LICENSING AGREEMENT
Ionic Brands Corp. has entered into a licence agreement with a third party licensee granting the licensee the exclusive use of certain trade secrets, know-how, trademarks and domains of the company.
The Company granted the Licensee an unlimited, exclusive, worldwide (other than certain excluded states in the United States), royalty-fee, non-transferable and sublicensable license (the "License") to use, improve and exploit the Licensed Assets. In consideration for the License, the Licensee has agreed to pay the Company a fee of US$250,000. The initial term of the License Agreement is one year, and may be renewed for up to nine additional one-year terms at the option of the Licensee upon payment of US$250,000 for each additional renewal term.
Pursuant to the terms of the License Agreement, six months following the date of the License Agreement, upon repayment of US$625,000 by the Company to the Licensee, the License will become non-exclusive for any jurisdictions where the Licensee has not used or is not then using any of the Licensed Assets.