IGNITE Announces Private Placement of 2,000,000 Shares
VAUGHAN, Ontario--(BUSINESS WIRE)--Sep 7, 2021--
IGNITE International Brands, Ltd. (CSE:BILZ, OTCQX: BILZF) (“ IGNITE ” or the “ Company ”), a global consumer packaged goods company, today announced that it has entered into an agreement to issue 2,000,000 subordinate voting shares by way of private placement to Brisa Max Holdings VI LLC, which is expected to close on September 8, 2021. The subscription price is $1.43 per subordinate voting share, which was the closing price on September 2, 2021, for a total of $2,860,000 for the Company.
Dan Bilzerian, Chairman and CEO of Ignite, stated, “This subscription was the result of an unsolicited request to invest in IGNITE, not because of any financial needs of the Company. The investor is a sophisticated shareholder that will also add value to IGNITE beyond its investment”.
IGNITE is a global consumer premium brand, operating in several market segments. IGNITE product categories include CBD products, nicotine and synthetic nicotine vape products, premium performance drinks named ZRO, apparel, and spirits featuring tequila and a premium vodka. The IGNITE THC product line was introduced in Canada in 2020.
Shares of IGNITE are listed on the Canadian Securities Exchange (CSE) under the symbol “BILZ” and quoted in the United States on the OTCQX under the symbol “BILZF”.
Further information on IGNITE can be found on the Company’s website at www.ignite.co.
CAUTIONARY STATEMENT REGARDING FORWARD‐LOOKING INFORMATION
This news release includes certain “forward‐looking statements” under applicable Canadian securities legislation, including the closing of the private placement and the expected closing date. Forward‐looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward‐looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the effects and impacts of the coronavirus disease (COVID‐19) pandemic, the extent and duration of which are uncertain at this time on IGNITE’s business and general economic and business conditions and markets; the ability of IGNITE to give effect to its business plan. There can be no assurance that any of the forward‐looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‐looking statements. The Company disclaims any intention or obligation to update or revise any forward‐looking statements, whether because of new information, future events or otherwise, except as required by law.
View source version on businesswire.com:https://www.businesswire.com/news/home/20210907005339/en/
CONTACT: Paul A. Holden, General Counsel
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: TOBACCO RETAIL SPECIALTY FOOD/BEVERAGE
SOURCE: IGNITE International Brands, Ltd.
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PUB: 09/07/2021 09:25 AM/DISC: 09/07/2021 09:26 AM