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Ignite International Brands, Ltd. (BILZF)

Other OTC - Other OTC Delayed Price. Currency in USD
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0.3587-0.0006 (-0.16%)
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Previous Close0.3593
Open0.3704
BidN/A x N/A
AskN/A x N/A
Day's Range0.3407 - 0.3704
52 Week Range0.2367 - 1.7437
Volume14,031
Avg. Volume107,854
Market Cap94.302M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)-0.1400
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • IGNITE Announces Closing of Previously Announced Acquisition of CA$25 Million of IGNITE Shares by Its Chairman and CEO
    GlobeNewswire

    IGNITE Announces Closing of Previously Announced Acquisition of CA$25 Million of IGNITE Shares by Its Chairman and CEO

    VAUGHAN, Ontario, Oct. 27, 2020 (GLOBE NEWSWIRE) -- IGNITE International Brands, Ltd. (CSE:BILZ, OTCQX: BILZF) (“IGNITE” or the “Company”), a global consumer packaged goods brand, is pleased to announce the closing of Dan Bilzerian’s (Chairman and CEO of the Company) (the “Acquirer”) acquisition of 250,000 Proportionate Voting Shares of IGNITE that was previously announced on October 23, 2020. The acquisition took the form of a purchase of CA$5 million worth of IGNITE Proportionate Voting Shares, and a shares-for-debt transaction whereby CA$20 million worth of convertible debentures of the Company were exchanged for 200,000 Proportionate Voting Shares (collectively, the “Transactions”). Please see the Company’s press release dated October 23, 2020 for additional details on the Transactions. As a result of the Transactions, the Acquiror’s ownership of the Proportionate Voting Shares (as calculated in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues and on a non-diluted basis) increased from 58.1% to 64.9% (calculated assuming the conversion of all Proportionate Voting Shares to Subordinated Voting Shares, on a non-diluted basis). The Acquirer acquired the additional Proportionate Voting Shares for general investment purposes. For further information on and to obtain a copy of the Early Warning Report, please contact IGNITE’s General Counsel using the contact information at the end of this press release.Lastly, the Company would like to correct its previous announcement from October 23, 2020 that it had granted an aggregate of four million eight hundred thousand (4,800,000) options to purchase Subordinate Voting Shares in the capital of the Company to certain directors, officers, employees and consultants of the Company pursuant to the Company’s stock option plan (the “Options”). The total amount of options issued was actually four million nine hundred thousand (4,900,000) Options.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, nicotine and synthetic nicotine vape products, a line of premium performance drinks, named Z‐RO 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.Shares of IGNITE are listed on the 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.For further information, please contact:Linda K. Menzel, General Counsel Tel: 310‐867‐3859 Email: linda.menzel@ignite.coNEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

  • IGNITE International Brands, Ltd. Enters Manufacturing Agreement With CannaPiece Corp. to Meet Overwhelming Demand for IGNITE Cannabis Products in Canada
    GlobeNewswire

    IGNITE International Brands, Ltd. Enters Manufacturing Agreement With CannaPiece Corp. to Meet Overwhelming Demand for IGNITE Cannabis Products in Canada

    VAUGHAN, Ontario, Oct. 26, 2020 (GLOBE NEWSWIRE) -- 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.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, nicotine and synthetic nicotine vape products, a line of premium performance drinks, named Z‐RO 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.Shares of IGNITE are listed on the 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.For further information, please contact:Linda K. Menzel, General Counsel Tel: 310‐867‐3859 Email: linda.menzel@ignite.coABOUT 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.NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

  • IGNITE Announces Chairman of the Board Intends to Acquire $25 Million of IGNITE Shares
    GlobeNewswire

    IGNITE Announces Chairman of the Board Intends to Acquire $25 Million of IGNITE Shares

    VAUGHAN, Ontario, Oct. 23, 2020 (GLOBE NEWSWIRE) -- IGNITE International Brands, Ltd. (CSE:BILZ, OTCQX: BILZF) (“IGNITE” or the “Company”), a global consumer packaged goods brand, announces that Dan Bilzerian, Chairman of the Board and CEO of the Company, intends to subscribe for and purchase from the Company 50,000 Proportionate Voting Shares (the “Share Subscription”) on October 26, 2020, based on a price equal to CA$0.50 per Subordinate Voting Share, which is a 39% premium to the closing price of the Subordinate Voting Shares on the CSE on the day prior to this announcement, for an aggregate subscription of CA$5 million. The Company also intends to enter into a series of purchase agreements with Dan Bilzerian, and a creditor of the Company on October 26, 2020. Pursuant to the agreements, the Company proposes to issue 200,000 proportionate voting shares in the capital of the Company (the “Proportionate Voting Shares”) to settle CA$20 million of convertible debentures (the “Debentures”) currently issued and outstanding (collectively, the “Shares for Debt Transaction”). The proposed transactions will include Mr. Bilzerian purchasing the Debentures from a creditor of the Company on October 26, 2020, immediately prior to the closing of the Shares for Debt Transaction pursuant to which, the Company will purchase the Debentures from Mr. Bilzerian for immediate cancellation in consideration for the issuance by the Company of the aforementioned Proportionate Voting Shares to Mr. Bilzerian. Pursuant to their terms, the Proportionate Voting Shares are convertible to Subordinate Voting Shares in the capital of the Company (the “Subordinate Voting Shares”) at a ratio of one (1) Proportionate Voting Share for two hundred (200) Subordinate Voting Shares. For the purposes of the Shares for Debt Transaction, the Company is using a price of CA$0.50 per Subordinate Voting Share, which is a 39% premium to the closing price of the Subordinate Voting Shares on the Canadian Securities Exchange (“CSE”) on the day prior to this announcement.   “As we announced last week, we project Ignite to have a profitable fourth quarter and I am very much looking forward to seeing what the Company can do in 2021, when it should be operating on all cylinders”, stated Mr. Bilzerian. “The new management team is excited to show what it can do in the fourth quarter this year and next year.”The Shares for Debt Transaction and the Share Subscription each constitute a “related party transaction” as this term is defined in Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions (“MI 61-101”). In connection with the Shares for Debt Transaction and the Share Subscription, the Company is relying on the exemption from valuation requirement and minority approval pursuant to subsection 5.5(a) and 5.7(a) of MI 61-101, respectively, as the securities do not represent more than 25% of the Company’s market capitalization, as determined in accordance with MI 61-101. The Shares for Debt Transaction and the Share Subscription were each approved by directors of the Company who are independent in connection with such transactions. A material change report will be filed less than 21 days before the closing date of the transactions contemplated by this news release. The Company believes this shorter period is reasonable and necessary in the circumstances as the Company wishes to improve its financial position by reducing its accrued liabilities as soon as possible.Closing of the Shares for Debt Transaction and the Share Subscription is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including from the CSE.Lastly, the Company is announcing that it has granted an aggregate of four million eight hundred thousand (4,800,000) options to purchase Subordinate Voting Shares in the capital of the Company to certain directors, officers, employees and consultants of the Company pursuant to the Company’s stock option plan (the “Options”). The Options entitle the holders thereof to acquire, in aggregate, up to 4,800,000 Subordinate Voting Shares at an exercise price of CA$0.50 per Subordinate Voting Share, expiring on October 31, 2024.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, nicotine and synthetic nicotine vape products, a line of premium performance drinks, named Z‐RO 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.Shares of IGNITE are listed on the 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.For further information, please contact:Linda K. Menzel, General Counsel Tel: 310‐867‐3859 Email: linda.menzel@ignite.coCAUTIONARY 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 closing of the Shares for Debt Transaction and the Share Subscription. 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; and IGNITE obtaining the necessary approvals, including the approval of the CSE. 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.NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.