The marijuana stock market has seen a large amount of upward sentiment over the course of the past year or so. With so many updates to the industry including changing legislation and the shifting public perception regarding the substance, it seems as though the current state of the market is the friendliest investor space we have seen in quite some time. Despite the fervent competition out there, there are some companies that have managed to make more headlines than others, and for good reason. Whether it be their business model or the amount of cannabis they can produce, innovation is continuing to lead the charge.
Ionic Brands Corp. (IONC) (IONC.C) is a company that has been working to produce large quantities of cannabis concentrates and products of the sort. Based out of Washington, they have managed to make quite a large name for themselves over the course of the time that they have been in business. Currently, in Washington state, they have stated that they are the #1 vaporizer brand domestically. Ionic Brands Corp. has also stated that they have been working to move deeper into the Oregon and California market on cannabis, which represents two of the largest individual cannabis spaces in the whole of the industry.
Recently, the company announced that they have signed a definitive agreement that would allow for the acquisition of Natural Extractions, a high-end edible and extraction company. The agreement shows that they will acquire the company, which is under the name Zoots, for around $855,000 and issuance of around 10.7 million common shares upon the closure of the transaction. After, the company will offer as many as 5.35 million common share warrants to those who currently own Zoots at a price of C$1.33 per share.
The acquisition of this company is quite important to the future of Ionic Brands as it allows them to move deeper into the cannabis concentrate market. For those who don’t know, Zoots states that they are a family owned, state-of-the-art edibles company based out of Washington State. The location of Zoots should also help to give them the utmost advantage when it comes to teamwork as they are located right nearby. All in all, Ionic Brands Inc. should remain on the radar for the coming future.
HEXO (NYSE:HEXO) is another cannabis company, but they are based out of Canada and specifically headquartered in the province of Quebec. The company has been working to up the amount of distribution potential that they have domestically, as well as the potential of a deal with a large investor.
HEXO has been working mainly to move into the top five producers of cannabis in Canada which is quite a large leap, but they look as though they have the potential to do so. Recently, they announced the purchase of Newstrike Brands for over $250 million. This is one of the largest mergers in the Canadian cannabis space since its inception, and we are still waiting to see what comes of it. HEXO continues to show the potential that they have in the marijuana market.
Pursuant to an agreement between an affiliate of MAPH Enterprises, LLC (owners of MarijuanaStocks.com), Midam Ventures LLC and Ionic Brands Corp (IONC), Midam has been paid $50,000 from Ionic Brands Corp (IONC) for a period from April 2, 2019 to May 2, 2019. We may buy or sell additional shares of (IONC) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Ionic Brands Corp (IONC).