Tuesday, February 23, 2021 - 1:40pm
The transaction value of approximately $32,000,000 will significantly improve Lobe's balance sheet with non-dilutive capital and will provide immediate shareholder value
- The share ownership we will have in Ionic Brands will allow Lobe to continue to benefit from Cowlitz's growth and Ionic Brands' entire operations in the Pacific Northwest under the experienced leadership of John Gorst.
- John Gorst, CEO of Ionic Brands Corp. states "This transaction will allow our shareholders to benefit from the continued growth of the Cowlitz brands.
- Following the closing of the Transaction, Ionic Brands' board of directors is expected to be comprised of seven (7) members and Lobe will have the right to appoint two (2) directors to the Ionic Brands board.
- Ionic Brands' strategy is to be the leader of the highest-value segments of the cannabis market.