IONIC Brands Corp. Announces Revocation of Cease Trade Order
VANCOUVER, BC / ACCESSWIRE / December 14, 2020 / Ionic Brands Corp. ("Ionic" or the "Company") (CSE:IONC)(OTC PINK:IONKF) is pleased to announce that on December 11, 2020, the Ontario Securities Commission issued a full revocation of the cease trade order (the "CTO") which was originally issued on June 22, 2020.
The CTO was issued due to the Company's failure to meet a deadline to file: (i) annual audit financial statements, (ii) the associated management's discussion and analysis, and (iii) certification of annual filings for the financial year ended December 31, 2019 (collectively, the "Annual Filings").The Company filed the Annual Filings on September 30, 2020, but the CTO remained in place due to the Company's failure to meet a deadline to file: (i) interim financial statements, (ii) the associated management's discussion and analysis, and (iii) certification of interim filings for the interim period ended September 30, 2020 (collectively, the "Interim Filings"). The Company filed the Interim Filings on November 30, 2020, and the CTO has now been fully revoked.
Copies of the Annual Filings and the Interim Filings are available under the Company's SEDAR profile at www.sedar.com.The Company is coordinating with the Canadian Securities Exchange ("CSE") with respect to reinstatement of trading on the CSE. The Company expects to provide further updates on reinstatement of trading pursuant to a separate news release.
About IONIC BRANDS CORP.
The Company is dedicated to building a regionally based multi-state consumer-focused cannabis concentrate brand portfolio with strong roots in the premium and luxury segments of vape concentrates and edibles. The cornerstone Brand of the portfolio, IONIC, is the #3 vaporizer brand in Washington State 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.
Chief Executive Officer & Chairman
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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.
SOURCE: IONIC Brands Corp.
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Released December 14, 2020