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Ionic Brands Corp IONKF

Ionic Brands Corp. is a cannabis holdings company engaged in building a multi-state consumer-focused cannabis concentrate brand portfolio focusing on the premium and luxury segments. The Company’s primary business is the provision of services and products ancillary to the cannabis production and processing industry in the States of Washington and Oregon. The Company, through its subsidiaries, delivers a range of solutions to licensed cannabis processors and producers which includes sale of cannabis products; processing and transportation equipment leasing; operating and marketing support; licensing of intellectual property, and sourcing of devices, packaging and labeling. Its brands include IONIC, Dabulous and Zoots. It procures and supplies branded packaging and devise including vape pens, both refillable and disposable, cartridges, applicators, jars and brand, packaging and labeling for the licensee. Its subsidiary is Blacklist Holdings Inc.


GREY:IONKF - Post by User

Post by LongTbuffeton Apr 18, 2022 9:20am
341 Views
Post# 34609475

Ionic Brands signs licence deal for $250,000 (U.S.)

Ionic Brands signs licence deal for $250,000 (U.S.)

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. 

 
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