IGNITE International Brands, Ltd. (CSE:BILZ, OTCQX: BILZF) ('IGNITE' or the 'Company'), a global consumer packaged goods brand, is pleased to announce that it has broadened its manufacturing capabilities by signing a contract manufacturing agreement with CannaPiece Corp. ('CannaPiece'), a leading contract manufacturer of cannabis and hemp.
CannaPiece operates a 50,000 square foot state-of-the-art licensed manufacturing and processing facility, with ability to expand its operations to 150,000 square feet. The operation includes R&D, Product Development, Third-Party Processing, Packaging, Large-Scale Extraction, Production of Edibles, Topicals and Concentrates with the ability to provide IGNITE Branded products to domestic markets.
'Canada has shown to be a burgeoning market for IGNITE. Collaboration with CannaPiece is a strategic move that will position IGNITE to maximize its potential in the Canadian cannabis market,' said Gene Bernaudo, Global Head of Cannabis at IGNITE. 'Curating premium craft cannabis and delivering consistent products has gained the loyalty of consumers and has been essential to generating brand awareness as IGNITE continues to scale the country. Demand for IGNITE products has grown since launch and the team at CannaPiece will be instrumental to IGNITE's ability to meet demand and deliver uber-premium cannabis products.' 'CannaPiece is excited to be the manufacturing body for IGNITE, and we look forward to leveraging our manufacturing expertise, technology and high-end equipment to offer sustainable high quality cannabis and hemp products to the Canadian market,' said Afshin Souzankar, Chief Operating Officer at CannaPiece.
IGNITE is a global consumer brand, operating in the premium product segment of the market. Founded by Dan Bilzerian, the Company's 'quality first' approach is fundamental to the brand and its products. Originally operating in the cannabis and hemp derived cannabidiol (CBD) wellness space, IGNITE was able to establish its brand awareness. IGNITE product categories now include a full line of CBD oil tinctures, CBD topicals, CBD pet products and CBD vape devices, nicotine and synthetic nicotine vape products, a line of premium performance drinks, named ZRO as well as a gluten free, seven time distilled vodka, and apparel produced by various partners and sold through select distributors, brick and mortar retailers, and online through the Company's website, ignite.co. The IGNITE THC product line, which was launched subsequent to the CBD product line, incorporates quality, locally sourced, cannabis products.
ABOUT CANNAPIECE CORP.
Headquartered in Pickering, Ontario, CannaPiece Corp. is 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 products and provides the industry with services and products to cover gaps in the supply chain. CannaPiece offers a complete selection of high-quality services ranging from R&D, product development, third-party processing, packaging, large-scale extraction, production of edibles, topicals and concentrates as well as white-labeled products to the Canadian market.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION
This news release includes certain 'forward looking statements' under applicable Canadian securities legislation. Forward looking statements include, but are not limited to, the success of the arrangements with CannaPiece, the ability of IGNITE to distribute its products in Canada successfully and the ability to have a successful market strategy in Canada. Forward looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the 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, economic, competitive, political and social uncertainties; the effects and impacts of the coronavirus disease (COVID 19) pandemic, the extent and duration of which are uncertain at this time on IGNITE's business and general economic and business conditions and markets; the ability of IGNITE to give effect to its business plan; reliance on the 'IGNITE' brand which may not prove to be as successful as contemplated; the ability to and risks associated with unlocking future licensing opportunities with the 'IGNITE' brand, and the ability of IGNITE to capture significant market share. There can be no assurance that any of the forward looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking statements. The Company disclaims any intention or obligation to update or revise any forward looking statements, whether because of new information, future events or otherwise, except as required by law.