ON BEHALF OF THE BOARD OF DIRECTORS
TACOMA, Wash., July 24, 2019 (GLOBE NEWSWIRE) — IONIC BRANDS CORP. (CSE: IONC) (OTC: IONKF) (FRA: 1B3) (“IONIC BRANDS” or the “Company”) is pleased to announce that it has completed the acquisition of Natural Extractions, Inc. d/b/a Zoots Premium Cannabis Infused Edibles (“Zoots”), based in Washington, USA, as previously announced on April 23, 2019.
Zoots Premium Cannabis Infused Edibles are available at licensed marijuana retailers in Illinois, Washington, Colorado and Massachusetts. Founded by brothers Dan, Michael and Patrick Devlin, Zoots products feature cannabis oil derived from the Zoot’s proprietary Cypress Extraction™ system and blended with other premium ingredients to deliver a safe, reliable and pleasant experience. Zoots emphasizes on product safety, quality and consistency, and offers products in serving sizes as low as 5 mg THC enabling the consumer to easily manage dosage and control over serving size and effect. As part of the integration of Zoots into the Company’s operations, “Both Ionic and Zoots are trusted, family-run businesses and cannabis industry front-runners,” said Zoots’ Co-Founder, Patrick Devlin. “Zoots and Ionic target consumers looking for an easy and intuitive way to consume cannabis. Edibles are quickly gaining in popularity worldwide and we provide highly desired cannabis consumption options.”
CEO and Director
Total consideration for the purchase of Zoots is approximately US$11 million, comprised of US$855,000 cash and issuance of 9,635,150 common shares (“Consideration Shares”) of the Company at a deemed value of C$1.30 per share to the vendors of Zoots (“Vendors”), and the assumption of US$606,420 in outstanding debt. The Vendors have also agreed to a lock-up agreement whereby up to 70% of the Consideration Shares would be locked up and released over nine months. The issuance of shares is subject to approval by the Board and CSE.
About IONIC BRANDS CORP.
The acquisition adds Zoots’ edibles and infused products to the Company’s portfolio of consumer-focused cannabis concentrates. Zoots products expands the Company’s current product line and is expected to increase the Company’s market share in the cannabis retail and wholesale industry. Zoots is a state-of-the-art, Washington State-based, cannabinoid edibles company, a first major player in the cannabis-infused edibles market. Zoots’ product line includes drops, gummies, energy shots and hard candies manufactured to offer consistent and reliable dosing. Zoots is forecasting total revenues in 2019 to be approximately US$3.0 million with US$360,000 EBITDA cash flow. Zoots has consumer proven formulas which will be preserved by IONIC BRANDS.
In addition, the Company will issue up to 4.8 million common share purchase warrants to the shareholders of Zoots, with an exercise price of C$1.33 per share, exercisable over three years.
For further information, please contact John Gorst, Chairman & CEO
E: [email protected] | W: www.ionicbrands.com | P: 253-248-7927.
IONIC BRANDS COMPLETES ZOOTS ACQUISITION, PREMIUM CANNABIS – INFUSED EDIBLESINFUSED PRODUCTS AND EDIBLES ARE ONE OF THE FASTEST GROWING CATEGORY IN THE…
- dagga (from Afrikaans via South Africa)
- Dat sticky icky icky, Poo We (Snoop Dogg)
- Devil’s Lettuce
- Daniel Nuggetstone
- Dan K. Buddinhash
- diesel (low quality resin)
- dime (a 10 dollar sack)
- dirt weed (very low-quality marijuana that tastes extremely bad)
- discarded bibles
- dro (derived from hydroponics)
- dub sack or twamp (20 dollars)
In Canada, similar terms to those in the UK are used, but grams are used in small quantities, and fractional ounces are actually weighed out in grams. For example, an “o” or ounce in most of Canada will be weighed as exactly 28 grams on a scale, which is an approximation. Common purchase units are the “half”, “quarter” and “eighth”, or “half quarter”, weighed out as 14, 7, and 3.5 grams respectively. Grams are used for lower quantities, and may be referred to as “grrs”.
Yarndi (an Australian aboriginal term for weed) X
- eighth (standard-quantity used for trading — 1/8 imperial ounce)
- Edwardian Morris Baskerville
- electric puha (from puha, a plant in New Zealand)
- nay nay famous
- nick or nickel (a 5-dollar sack)
- nodge (small amount of hashish)
- nug or nugget or nugs
Realistically though, unless you’re safe with your dealer or you know the geezer who grows it, you’re gonna get mugged off. Probably end up paying £10 and getting a 0.8/0.7.
- wacky tobaccy/baccy
- widdle (common in Bergen County, New Jersey)
- wizard (specifically high-grade cannabis, common usage in Pittsburgh, PA, USA)
- Caracas (what Latinos call low-grade marijuana)
- Carribean cabbage
- cheatham (awful-quality weed), (South African English)
- checkers (low quality)
- cheech and chong
- cheg (very small amount of resin)
- chess (high quality)
- Cherry (lit end of a Cigarette, Bong, Joint, Cigar)
- chronic (high quality)
- Chronicles of Narnia
- comic books
- combustible herbargy
- course notes
- Crop (often shortened to cro) (UK Slang)
- curley wurley
- Nickel bag, blunt (also referred to as a “nick”) — $5 worth
- Dime bag (also referred to as a “dime”) — $10 worth
- Dub – twenty bag, $20 worth
- 30 sack – $30 worth
- 50 piece (also referred to as an eighth or fatty eight) — You get 3 of that particular dealer’s twenty bags (“dubs”) for $50, $10 in savings. Sometimes just comes in one bag/plastic jar.
- 25, or a quarter — It is $100 worth and works with the savings system by giving you $20 amount free with it.
- Lid- $200 worth, It is usually the largest amount bought at a time. It is referred to as a lid because the height of the amount of marijuana in the bag is equal to the width of the lid of a bucket.
Appendix:Cannabis slang A user suggests that this English appendix be cleaned up. Please see the discussion on Requests for cleanup (+) or the talk page for more information