RE:IONC Halted ?!
IONIC BRANDS ANNOUNCES LICENSING AGREEMENT VANCOUVER, BRITISH COLUMBIA, CANADA, April 18, 2022, IONIC Brands Corp. (CSE: IONC; FRA: IB3, OTC: IONKF) (“IONIC BRANDS” or the “Company”) announces that it has entered into a license agreement (the “License Agreement”) with a third party licensee (the “Licensee”) granting the Licensee the exclusive use of certain trade secrets, know-how, trademarks and domains of the Company (the “Licensed Assets”). 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. About IONIC BRANDS CORP. The Company is focused on building a multi-state consumer-focused cannabis concentrate brand portfolio focusing on the premium and luxury segments. The cornerstone Brand of the portfolio, IONIC, is one of the top three vaporizer and concentrate brands in Washington State along with Zoots portfolio of high quality edibles, and has aggressively expanded throughout the West Coast of the United States. The brand is currently operating in Washington and Oregon with licensing agreements in Illinois and Massachusetts. IONIC BRANDS’ strategy is to be the leader of the highest-value segments of the cannabis market and expand nationally. On behalf of IONIC BRANDS CORP.