- West
Coast-based IONIC Brands has focused on vape products for recreational
cannabis users, but a new agreement with a Washington-based partner grants
it a foothold in the edibles and infused products sectors
- A
second agreement between IONIC and an Australian Bluetooth technology
producer will grant IONIC’s consumers access to vaporizer tech originally
designed to help medical patients control the dosing of their medications
- The
agreements mark an expansion of the cannabis holding company’s ability to
provide secure dosing to recreational users
- IONIC
expects to launch its newest vape product using the technology during the
third quarter
Cannabis holding company IONIC Brands Corp. (CSE: IONC) (OTC: IONKF) is
expanding its sphere of operations with agreements that enhance the vape
manufacturer’s competitiveness in the edibles and infused products markets, as
well as technological developments that are expected to provide IONIC’s
recreational consumers an innovative experience.
The company announced July 24 that it has completed the
previously announced acquisition of Washington-based Natural Extractions Inc.,
which is doing business as Zoots Premium Cannabis Infused Edibles (http://ibn.fm/fsurk).
Zoots is an edibles company whose product line includes
drops, gummies, energy shots and hard candies manufactured to offer consistent
and reliable dosing. The products are currently available at licensed
recreational cannabis retailers in Illinois, Washington, Colorado and
Massachusetts.
“Our top-rated Ionic vaporizer pen targets consumers
interested in luxury cannabis products that can be discreetly consumed which
make Zoots edibles a natural fit for our brand strategy,” IONIC Brands Chairman
and CEO John Gorst stated in a news release. “The Zoots acquisition expands our
market segments to the popular edibles space and expands our distribution
network throughout the United States.”
Zoots was founded by brothers Dan, Michael and Patrick
Devlin, and Dan will continue as the chief operating officer under the
agreement. The company’s products feature cannabis oil from Zoots’ proprietary
Cypress Extraction system and offer serving sizes as low as 5 mg
tetrahydrocannabinol (THC), making it easy for consumers to manage dosage and
control over the drug’s effect.
IONIC’s exclusive Heads of Agreement with Lifespot Health
Limited (ASX: LSH) is also a significant step toward managing drug
dosing (http://ibn.fm/8LVz5).
Lifespot’s Bluetooth-enabled vaporizers were developed to help medical patients
efficiently manage dosing of their prescriptions for chronic illnesses and
unexpected medical conditions on their personal digital devices, including
smartphones, tablets and desktop computers. The tech can also be used
effectively for recreational cannabis consumption by IONIC’s customers, once
the firms complete binding joint venture and distribution agreements.
Lifespot’s software works with enhanced sensor technology to
provide self-learning algorithms that make the company’s products user-friendly
and analytical.
“Smartphone Bluetooth technology is the future of cannabis
delivery and dosing,” Gorst added. “The company is ecstatic to offer consumers
advanced delivery technology that, before this agreement, was only available to
medical patients. Ionic’s launch and distribution of the Slim-line Vape is
expected to start in Q3 2019 in Washington, Oregon, Nevada and California. The
Slim-line Vape is the first Bluetooth enabled vaporizer and platform designed
specifically for the use of cannabis.”
The agreement also provides a framework for the ongoing
development and improvement of cannabis vaporizer technologies for the
recreational cannabis vaporizer market. IONIC has completed a purchase order
for an initial series of vaporizer and software technologies, and the company
plans to begin shipping the product line during the third quarter.
For more information, visit the company’s website at www.IONIC.social
NOTE TO INVESTORS: The latest news and updates
relating to IONKF are available in the company’s newsroom at http://ibn.fm/IONKF
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