TACOMA, WA / ACCESSWIRE / May 25, 2021 / IONIC BRANDS CORP. (CSE:IONC)(OTC PINK:IONKF)(FRA:1B3) ("IONIC BRANDS" or the "Company"), a regional multistate operator in the Pacific Northwest markets of premium and luxury vape, concentrate and consumable products, is pleased to provide our shareholders our monthly report on our brand performance by category for the Pacific Northwest markets.
CEO Comments:
John Gorst, Chairman & CEO of Ionic Brands Corp., said, "In 2020 Ionic Brands Corp. became a stronger, more fiscally focused company on our path to profitability and overall improved financial performance as we targeted our attention on operating cost reductions, increased margin performance, and the elimination of unprofitable business units and markets. We completed the integration of the newly acquired Dabulous brand, which saw a 600% increase in sales since we purchased the brand in early 2020. In Q3 of 2020, we enjoyed our first adjusted EBITDA positive quarter, which we believe sets the stage for an EBITDA profitable fiscal 2021. Furthermore, while our operating focus is squarely on the Pacific Northwest markets, we have been pursuing strategic partnerships such as the one with THE PASS in Massachusetts that was recently announced on April 20th, 2021. Licensing partnerships such as this one will give Ionic Brands broader exposure to the US market".
In April, we saw strong growth in our overall revenue due to the newly acquired brand assets of Cowlitz Country Cannabis, the fourth largest brand portfolio in the Washington State market which was purchased from Lobe Sciences. The Cowlitz brands have now provided the Company with a strong entrance and foothold into the flower category of cannabis which we had not offered in our 9-year history of operations to our retail store partners. With the addition of these six new brands, we can provide a more robust overall brand portfolio that covers inhalable concentrates, consumables, and now cannabis flower. Here are the unaudited top-line revenue numbers generated by brand and category.
April Brand Sales Revenue (unaudited):
Revenue (USD)
- Flower Category (Six Brands): $1,618,000
- Concentrate Category (Six Brands, Including Consumables): $733,727
- Wholesale Category: $431,317
- Total Revenue from all Brand Categories: $2,783,044
The Company is very excited to have begun the process of fully executing on our path to profitability that we started over a year ago. We look forward to generating greater sales volume from our brand portfolio in both the Washington and Oregon markets and developing strategic partnerships across the country to build greater brand equity and recognizability in the US market.
About Ionic Brands Corp.
The Company is dedicated to building a regionally based multi-state consumer packaged goods company with a highly respected cannabis concentrate brand portfolio with strong roots in the premium and luxury segments of vape, concentrates, flower and consumables. The cornerstone Brand of the portfolio, IONIC, is a top concentrates brand in Washington State along with its economy brand Dabulous and has aggressively expanded throughout the Pacific Northwest of the United States. The brand is currently operating in Washington and Oregon. IONIC BRANDS' strategy is to be the leader of the highest-value segments of the cannabis market.