IONIC BRANDS Announces DTC Eligibility for the U.S. Markets
TACOMA, Wash., Sept. 18, 2019 (GLOBE NEWSWIRE) -- IONIC BRANDS CORP. (CSE: IONC) (OTC: IONKF) (FRA: 1B3) (“IONIC BRANDS” or the “Company”) is pleased to announce that it has secured eligibility by The Depository Trust Company (DTC) for its shares on the OTC Market in the United States.
DTC is a subsidiary of the Depository Trust & Clearing Corporation (DTCC) and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered "DTC eligible." This electronic method of clearing securities speeds up the receipt of stock and cash, accelerates the settlement process for investors and brokers, and reduces transactional costs for participating brokerage firms. Additionally, DTC eligibility enables the stock to be traded over a much wider selection of brokerage firms, many of whom require DTC eligibility as a compliance measure.
John Gorst, CEO & Director of IONIC BRANDS, stated, "We are pleased to have secured DTC eligibility that allows trading of our shares in our home market, where IONIC BRANDS recognition is strong and most of our earliest investors reside. The ability for investors to electronically transfer between brokerages in the U.S. is significantly more convenient and provides to existing investors the benefit from greater liquidity and execution speeds, while attracting new investors to gain access that may have been previously restricted from investing in IONIC BRANDS.”
The Company is currently unaware of any material change in its operations but is always in the process of continuous improvements and evaluation of its business model. The Company will continue to keep the public informed and will make public any information regarding any material changes if and when they occur.
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 vaporizer brands in Washington State and has aggressively expanded throughout the West Coast of the United States. The brand is currently operating in Washington, Nevada, Oregon and California. 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.
Chief Executive Officer & Chairman
For more information visit www.ionicbrands.com or contact:
The CSE does not accept responsibility for the adequacy or accuracy of this release.
All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The risks are without limitations the price for cannabis and related products will remain consistent and the consumer demand remains strong; availability of financing to the Company to develop the retail locations; retention of key employees and management; changes in State and/or municipal regulations of retail operations and changes in government regulations generally. Important factors that could cause actual results to differ materially from the Company’s expectations are disclosed in the Company’s documents filed from time to time with the Canadian Securities Exchange, the British Columbia Securities Commission, the Ontario Securities Commission and the Alberta Securities Commission.
Released September 18, 2019