The Cavendish Vaporizer
Astleys of London was founded in 1862 as a luxury tobacco pipe purveyor on London’s Jermyn Street. A distinguishing mark of craftsmanship and pedigree, Astleys is one of the most revered British luxury tobacco pipe brands and is the epitome of sophistication and luxury. The Astleys brand has been revitalized and relaunched by its current management team as a contemporary cannabis vape brand. Astleys will instill the glamour, status and elegance of yesteryear and deliver it with a sensitivity and intelligence befitting the modern age. Astleys of London will elevate Ionic’s existing brands through a strategic collaboration that will see high-quality Ionic cannabis oil used in Astleys’ three vaporizer devices.
The Cavendish Cartridge
As part of the acquisition, IONIC BRANDS will purchase Astleys’ portfolio of international intellectual properties and retain the brand’s principal management team. Joe Batchelor, Astleys’ CEO commented that “this is a unique opportunity for Astleys of London to join forces with a leading premium cannabis brand. IONIC BRANDS has a great vision for the future of cannabis and cannabis-related products. Astleys of London will be an ideal vehicle for the drive towards true luxury within the cannabis sphere."
IONIC BRANDS is taking aim at the ultra-high-end luxury cannabis market with the launch of the Astleys of London brand, delivering a high quality and exclusive cannabis vape experience befitting the luxury consumer. IONIC BRANDS Chairman and CEO John Gorst states that “while the Astleys of London brand is highly strategic to our overall position in the cannabis industry, we must also consider the deep economic benefits realized by the higher gross margins related to the Astleys luxury brand. We also expect a margin lift for Ionic’s current premium product lines from the increase exposure of the Astleys historic brand.”
The Atlantic Cartridge
Subject to definitive documentation, the purchase price will be US$7.8 million (“Initial Purchase Price”), payable in cash and shares of the Company, and a further US$10 million to be earned out (“Earn-Out”) subject to achieving specific milestones as agreed upon in the definitive agreement, for a total purchase price of US$17.8 million.
The payment of the Initial Purchase Price is based on a cash payment of US$1 million on closing of the transaction (“Closing Date”) and issuance common shares of the Company equal to US$6.8 million value (“Initial Stock Issuance”). 10% of the common shares pursuant to the Initial Stock Issuance will be released on Closing Date; 30% of the common shares to be issued four months from the Closing Date; 30% of the common shares to be issued eight months from the Closing Date; and 30% of the common shares to be issued twelve months from the Closing Date. The Initial Stock Issuance price is valued at US$0.59 (CA$0.79) per common share of the Company, subject to approval of the Company’s Board of Directors and the CSE. At the option of the vendors of Astleys, the vendors will have a one-time option to reset the price of the common shares of the Initial Stock Issuance any time after four months from the Closing Date (“Initial Stock Issuance Price Trigger”). Upon the Initial Stock Issuance Price Trigger, the price per common share shall be determined based on the daily volume weighted average trading price of the Company’s shares ten trading days prior to the date on which the shares are released. All shares issued pursuant to the Initial Stock Issuance shall be issued for the updated price thereafter.
The Atlantic Vaporizer
The US$10 million Earn-Out is payable in two phases over time. Upon achieving certain milestones to be agreed upon in definitive documentation, the Company will pay US$1 million in cash within 15 days of confirmation such conditions are achieved; and issue US$4 million common shares of the Company (“Initial Earn-Out Issuance”). Upon achieving certain milestones to be agreed upon in definitive documentation, the Company will pay US$1 million in cash within 15 days of confirmation such conditions are achieved; and issue US$4 million common shares of the Company (“Secondary Earn-Out Issuance”). The Initial and Secondary Earn-Out Issuance price is valued at US$0.59 (CA$0.79). All share issuances are subject to approval by the Board of Directors and the CSE.
Further information on Astleys can be found on the website https://www.astleysoflondon.com/
About IONIC Brands Corp
IONIC BRANDS is a national cannabis holdings company based in Washington, led by a team of successful entrepreneurs. 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 an accomplished #1 vaporizer brand in Washington State has aggressively expanded throughout the west coast of the United States and is currently operating in Washington, 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 THE BOARD OF DIRECTORS
“John Gorst”
John Gorst
Chairman and CEO
For further information, please contact John Gorst, Chairman & CEO
E: info@ionicbrands.com | W: www.ionicbrands.com | P: 253-248-7927.
ORIGINAL RELEASE
Please see full disclaimers at www.TheSeedInvestor.com applicable to all content provided by TSI, wherever published or re-published: http://theseedinvestor.com/about/disclaimer
Disclaimer: This release/advertorial is a commercial advertisement and is for general information purposes only. This release/advertorial does not constitute an offer or solicitation to buy or sell any securities or individualized investment advice. This is a native advertisement, meaning it is an informational paid marketing piece. THESEEDINVESTOR.com (TSI) makes no recommendation that the securities of the companies profiled or discussed on this website should be purchased, sold or held by viewers that learn of the profiled companies through our website. Please review all investment decisions with a licensed investment advisor. TSI receives payments ranging from approximately $25,000 to $150,000 to publish and/or distribute advertisements on behalf of a company. TSI retains any excess sums after expenses as its compensation. TheSeedInvestor.com and its owners, operators and affiliates may benefit from any increase in the share prices of the profiled companies. TheSeedInvestor.com may be paid for services using options or free-trading shares. TheSeedInvestor.com and/or its owners, operators and affiliates may be selling shares of stock at the same time the profile (or other information) is being disseminated to potential investors; TheSeedInvestor.com will not advise when it or its affiliates decide to sell. Investors must make all investment decisions based on their own judgment of the market and the particular securities.
This advertorial contains forward-looking statements that involve risks and uncertainties. This advertorial contains or incorporates by reference forward-looking statements, including certain information with respect to plans and strategies of the featured company. As such, any statements contained herein or incorporated herein by reference that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the foregoing, the words “believe(s),” “anticipate(s),” “plan(s),” “expect(s),” “project(s),” “will,” “make,” “told,” “could,” “might,” and similar expressions are intended to identify forward-looking statements. There are a number of important factors that could cause actual events or actual results of the company to differ materially from these indicated by such forward-looking statements. Certain statements contained herein are forward-looking statements as defined in Section 27A of the Securities Act of 1933 and 21E of the Exchange Act of 1934. Such statements include, without limitation, statements regarding business, financing, business trends, future operating revenues and expenses. There can be no assurance that such expectations will prove to be correct. Investors are cautioned that any forward-looking statements made by the company, or contained in this advertorial are not guarantees of future performance, and that the issuer’s actual results may differ materially from those set forth in the forward-looking statements. We undertake no obligation to update any statements made herein except as required by law. Differences in results can be caused by various factors including, but not limited to, the company’s ability to be able to successfully complete planned funding agreements, to successfully market its products in competitive industries or to effectively implement its business plan or strategies. To reiterate, information presented in this advertorial contains “forward-looking statements.” Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be “forward-looking statements.” Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. More information on the company may be found at http://www.sec.gov where readers can review all public filings submitted by the company. TheSeedInvestor.com is not a certified financial analyst or licensed in the securities industry in any manner. The information in this advertorial is subjective opinion and may not be complete, accurate or current and was paid for, so this could create a conflict of interest.
Read More