Ignite International Brands, Ltd. (CSE:BILZ, OTCQX:BILZF)
(“
IGNITE” or the “
Company”), is
pleased to announce that it has executed a licensing agreement (the
“
Agreement”) with CannMart Inc.
(“
CannMart”), a leading online provider of high
quality cannabis products and accessories, operating as a
wholly-owned subsidiary of Namaste Technologies Inc. (TSXV:N)
(FRANKFURT: M5BQ) (OTCMKTS:NXTTF).
The Agreement grants CannMart a non-exclusive
licence to utilize certain IGNITE brand trademarks on legal
cannabis-based products (the “IGNITE Products”) in
consideration for certain royalty payments.
Pursuant to the Agreement, CannMart will work
with IGNITE’s quality control and product development teams to
source premium inputs, including flower and Cannabis 2.0 offerings,
from Canadian craft cannabis producers for the IGNITE Products.
Under the Agreement, CannMart assumes all functions associated with
procurement, processing, and packaging of the IGNITE Products in
its Health Canada-licenced processing facility. In addition,
CannMart will oversee the sale and distribution of the IGNITE
Products in Canada, leveraging its Canadian trade channels.
Pursuant to the Agreement, IGNITE will, on behalf of CannMart,
market the IGNITE Products in Canada.
“The IGNITE team remains committed to delivering
cannabis products to every market we target. We firmly believe
working with CannMart will provide quality product offerings and a
quicker route to market given CannMart’s competencies,” said IGNITE
CEO, Dan Bilzerian. “The IGNITE philosophy aligns with CannMart’s
passion to deliver innovative products through its global
distribution channels.”
“CannMart delivers a unique value-added
proposition to brands,” said Curtis Heffernan, President of IGNITE.
“The agreement with CannMart will allow IGNITE to remain
laser-focused on expanding brand awareness to maximize its reach to
Canadian consumers.”
“CannMart continues to demonstrate its ability
to attract leading brands like IGNITE, to deliver recognizable
quality products to consumers,” said Meni Morim, CEO of Namaste
Technologies. “Namaste believes IGNITE is well known among our
current customer base and CannMart intends to leverage IGNITE’s
brand recognition to drive sales throughout its network of
government partners and retailers.”
ABOUT NAMASTE TECHNOLOGIES
INC.
With headquarters in Toronto, ON, and offices in
both B.C. and around the globe, Namaste Technologies is a leading
online platform for cannabis products, accessories, and responsible
education. The company’s ‘everything cannabis store’, CannMart.com,
provides customers with a diverse selection of hand-picked products
from a multitude of federally licensed cultivators, all on one
convenient site. Namaste’s global technology and continuous
innovation address local needs in a burgeoning cannabis industry
requiring smart solutions.
Information on the Company and its many products
can be accessed through the links below:
NamasteTechnologies.com NamasteMD.comCannmart.comNamasteVapes.caEveryonedoesit.ca
For more information please contact:Incite
Capital MarketsEric Negraeff / Darren SeedPh: 604.493.2004For Meni
Morim, CEOEmail: ir@namastetechnologies.com
ABOUT IGNITE
IGNITE is a CSE-listed and OTCQX traded company
operating in permissible CBD and cannabis sectors in addition to
other product categories such as beverages. IGNITE intends to
expand its business, which currently includes branding, marketing,
licensing, sales and distribution, across the United States, Canada
and United Kingdom into international jurisdictions by leveraging
multiple product platforms. The Company intends to affect this
expansion through brand leverage, product development, targeted
marketing and strategic supply chain partnerships in each of its
active and target jurisdictions.
Further information on Ignite International
Brands, Ltd. and its premium products can be accessed at
ignite.co.
Cautionary Statement Regarding
Forward-Looking Information
This news release includes certain
“forward-looking statements” under applicable Canadian securities
legislation. All statements other than statements of present or
historical fact are forward-looking statements. Forward-looking
statements are often, but not always, identified by the use of
words such as “anticipate”, “will”, “achieve”, “could”, “believe”,
“plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”,
“outlook”, “expect”, “project” and similar words, including
negatives thereof, suggesting future outcomes or that certain
events or conditions “may” or “will” occur. These statements are
only predictions, including, but are not limited to, statements
with respect to IGNITE’s receipt of any royalty payments from
CannMart under the Agreement, the successful implantation of the
Agreement, CannMart’s ability to produce the IGNITE Products, the
productive interaction under the Agreement between IGNITE and
CannMart and IGNITE’s ability to market the IGNITE Products.
Forward-looking statements are based upon opinions, estimates and
assumptions by management, based on then-available information
that, while considered reasonable, are subject to known and unknown
risks, uncertainties, and other factors beyond control of the
Company, any one or more of 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 ability of IGNITE and/or CannMart to
give effect to its business plan or the Agreement; reliance on the
“IGNITE” brand which may not prove to be as successful as
contemplated; the termination of the Agreement pursuant to its
terms; the ability to enforce the Agreement; changes in laws and
the uncertainties surrounding the CBD and cannabis industries in
Canada and internationally. 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 and no assurance
can be given that the expectations reflected in any forward-looking
statements will prove to be correct. IGNITE 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.
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