VAUGHAN, Ontario, October 26, 2020 (GLOBE NEWSWIRE) – IGNITE International Brands, Ltd. (CSE: BILZ, OTCQX: BILZF) (“IGNITE“or the”Business“), A global consumer packaging brand, is pleased to announce that it has expanded its manufacturing capacity by signing a contract manufacturing agreement with CannaPiece Corp. (“CannaPiece”), A leading contract manufacturer of cannabis and hemp. CannaPiece operates a 50,000 square meter state-of-the-art licensed manufacturing and processing facility with the ability to expand its operations to 150,000 square meters. The business includes R&D, product development, third-party processing, packaging, large-scale extraction, production of foodstuffs, substances and concentrates with the ability to supply IGNITE-labeled products to domestic markets.
“Canada has proven to be a growing market for IGNITE. Collaboration with CannaPiece is a strategic step that will position IGNITE to maximize its potential in the Canadian cannabis market, says Gene Bernaudo, Global Cannabis Manager at IGNITE. “Curing premium craft cannabis and delivering consistent products has gained consumer loyalty and been important in creating brand awareness as IGNITE continues to scale the country. Demand for IGNITE products has increased since its launch and the team at CannaPiece will be crucial to IGNITE’s ability to meet demand and deliver uber-premium cannabis products. ”
“CannaPiece is pleased to be the manufacturing body of IGNITE, and we look forward to leveraging our manufacturing knowledge, technology and advanced equipment to offer high quality sustainable cannabis and hemp products to the Canadian market,” said Afshin Souzankar, Chief Operating Officer on CannaPiece.
IGNITE is a global consumer brand operating in the premium product segment of the market. Founded by Dan Bilzerian, the company’s “first-class” strategy is fundamental to the brand and its products. IGNITE, which originally operated in the cannabis and hemp-derived cannabidiol (CBD) wellness space, was able to establish its brand awareness. IGNITE product categories now include a complete line of CBD oil tinctures, CBD topicals, CBD pet products and CBD vape devices, nicotine and synthetic nicotine vape products, a series of high-performance beverages called Z-RO and a gluten-free, seven times distilled vodka and clothing produced by various partners and sold through selected distributors, brick and mortar dealers and online via the company’s website, ignite.co. The IGNITE THC product line, launched after the CBD product line, contains quality products from local cannabis products.
Shares in IGNITE are listed on the CSE under the symbol “BILZ” and quoted in the US on OTCQX under the symbol “BILZF”.
More information about IGNITE can be found on the company’s website at ignite.co.
For more information, please contact:
Linda K. Menzel, General Counsel
Email: [email protected]
ABOUT CANNAPIECE CORP.
CannaPiece Corp. is headquartered in Pickering, Ontario, a wholly owned subsidiary of CannaPiece Group Inc., a Canadian based vertically integrated cannabis company. CannaPiece Corp. is a contract manufacturer of cannabis and hemp and provides services and products to cover gaps in the supply chain. CannaPiece offers a complete range of high quality services ranging from R&D, product development, third party processing, packaging, large scale extraction, food production, topical substances and concentrates as well as white labeled products to the Canadian market.
FORWARD MEASUREMENT FORWARD–SEARCH INFORMATION
This press release contains certain “forward-looking statements” in accordance with applicable Canadian securities laws. Forward-looking statements include, but are not limited to, the success of the CannaPiece agreements, IGNITE’s ability to successfully distribute its products in Canada, and the ability to have a successful marketing strategy in Canada. Forward-looking statements are necessarily based on several estimates and assumptions which, although considered reasonable, are subject to known and unknown risks, uncertainties and other factors that may cause 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 economics, economic, competitive, political and social insecurity; the effects and effects of the coronavirus disease (COVID-19) pandemic, the extent and duration of which are uncertain at this time in IGNITE’s commercial and general economic and business conditions and markets; IGNITE’s ability to implement its business plan; depending on the brand “IGNITE” which may not prove to be as successful as intended; the ability and risks associated with unlocking future licensing opportunities with the “IGNITE” brand and IGNITE’s ability to capture significant market share. It cannot be guaranteed that any of the forward – looking statements will prove to be accurate, as actual results and future events may differ materially from those expected in such statements. Consequently, readers should not rely too much on forward-looking statements. The Company disclaims all intentions or obligations to update or revise forward-looking statements, whether due to new information, future events or otherwise, except as required by law.
DO NOT CHANGE CANADIAN VALUES OR YOUR REGULATORY SERVICES THE SUPPLIER ACCEPTS RESPONSIBILITY FOR THE OPPORTUNITY OR SATISFACTION OF THIS RELEASE.