IONIC Brands (CSE: IONC) (OTC: IONKF) (FRA: IB3), a West Coast cannabis holding company specializing in the recreational adult-product market, recently reported second-quarter 2019 financial results, including a revenue milestone of $5.9 million (http://cnw.fm/8Ueu8). An article discussing the company reads, “‘We are very pleased with our second quarter financial results, achieving our focus of increasing sales growth while closing a successful financing for various strategic business acquisitions all in a span of three months,’ John Gorst, chairman and CEO of IONIC Brands, stated in a news release. . . . Several transformational acquisitions were recently completed, adding to IONIC’s multistate portfolio of award-winning cannabis brands, Gorst added. The purchase of Vegas Valley Growers North (‘VVG’), a Las Vegas-based, state-licensed cultivation and manufacturing firm for medical and recreational cannabis, brings to IONIC a vertically integrated, cash-flow positive opportunity for additional projected 2019 revenue of $6.6 million, as well as expected gross profits of $3.1 million and EBITDA of $2 million, the company stated in a news release (http://cnw.fm/sU4K7).”
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About IONIC Brands Corp.
IONIC Brands is focused on building a multistate, consumer-focused, cannabis-concentrate brand portfolio focusing on the premium and luxury segments. The cornerstone brand of the portfolio, IONIC, is one of the top vaporizer brands in Washington State and has aggressively expanded throughout the West Coast of the United States. The brand is currently operating in Washington, Nevada, Oregon and California. IONIC Brands strategy is to be the leader of the highest-value segments of the cannabis market and expand nationally. For more information, visit the company’s website at www.IONIC.social.
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