IGNITE Announces Termination of Agreement With Namaste

VAUGHAN, Ontario, Oct. 02, 2020 (GLOBE NEWSWIRE) — IGNITE International Brands, Ltd. (CSE:BILZ, OTCQX: BILZF) (“IGNITE” or the “Company”), a global consumer packaged goods brand, today announces the mutual termination of an agreement between IGNITE and CannMart Inc., a wholly-owned subsidiary of Namaste Technologies Inc. (“Namaste”), to utilize certain IGNITE trademarks on cannabis-based products. CannMart will continue selling remaining IGNITE inventory through provincial control boards and through its medical channel at Cannmart.com until December 29, 2020 and will no longer act as a distributor for IGNITE in Canada. IGNITE products, to the extent made available by licensed retailers in Saskatchewan, will also continue to be available on Cannmart.com via it’s VendorLink platform.
“It has been a pleasure working with Cannmart to launch IGNITE THC products into Canada,” said John Schaefer, President of the Company. “The IGNITE team has done a fantastic job delivering superior products to consumers across the country which, has created demand beyond initial expectations. We remain committed to delivering premium cannabis products to our valued consumers, retail and provincial distribution partners as we continue to grow and scale at a fast pace.”ABOUT IGNITEIGNITE 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, 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.Since the launching of its THC and CBD products, the Company has expanded into the beverage space, launching a full line of functional performance enhancing drinks. The IGNITE beverage line currently consists of PH-alkaline balanced water, a line of premium performance drinks, named Z-RO as well as a gluten-free, seven-time distilled vodka. IGNITE beverages will be distributed nationally within the United States and available to purchase on the IGNITE beverages website, IgniteBeverages.co.IGNITE is a socially responsible company and is committed to using its marketing and brand power as a positive catalyst for a healthy lifestyle. The IGNITE management team believes that socially responsible oriented actions have a positive impact on the Company, its employees and its shareholders.Shares of IGNITE are listed on the Canadian Securities Exchange (CSE) under the symbol “BILZ” and quoted in the United States on the OTCQX under the symbol “BILZF”.Further information on IGNITE can be found on the Company’s website at ignite.co.About Namaste Technologies Inc.Headquartered in Toronto, ON, Namaste Technologies is a leading online platform for cannabis products, accessories, and responsible education. The Company’s ‘everything cannabis store’, CannMart.com, provides medical customers with a diverse selection of hand-picked products from a multitude of federally-licensed cultivators, all on one convenient site. The Company also distributes licensed and in-house branded cannabis and cannabis derived products to recreational consumers in Canada through a number of provincial government control boards and retailing bodies and online in Saskatchewan. Namaste’s global technology and continuous innovation address local needs in a burgeoning cannabis industry requiring smart solutions.For further information, please contact:
Linda K. Menzel, General Counsel
Tel: 310-867-3859
Email: linda.menzel@ignite.co Cautionary Statement Regarding Forward‐Looking InformationThis news release includes certain “forward‐looking statements” under applicable Canadian securities legislation. Forward‐looking statements include, but are not limited to, statements with respect to IGNITE’s ability to grow and scale its operations at a fast pace. 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.