Ignite International, Ltd. Signs Joint Venture with Grupo Ensejal, Creating New Business Entity
Joint Venture was initiated to oversee commercial activation of Ignite branded products in Mexico
LOS ANGELES, July 23, 2019 /CNW/ - Ignite International, Ltd. ("Ignite"), a wholly owned subsidiary of Ignite International Brands, Ltd. (CSE:BILZ), today announced that it has signed a joint venture agreement with Grupo Ensejal, S.A. de C.V. ("Grupo Ensejal"). The joint venture, which will operate as a newly formed legal entity, will encompass convenience, specialty retail, pharmacy and e-commerce retail channels.
"Ignite is quickly becoming a global powerhouse brand and expanding to our neighbors to the south was a natural next step. The creation of the Mexican joint venture gives Ignite first mover positioning in Mexico to build relationships and trust with retailers and buyers," said Jim McCormick, President of Ignite International Brands, Ltd., "Grupo Ensejal is the perfect partner for us as they get the power of Dan Bilzerian's global reach and understand the power of smart marketing when creating brands."
The joint venture will draw on Ignite's marketing expertise and the brand recognition of the Ignite trademark, the iconic goat's skull logo and founder Dan Bilzerian who has amassed a global social media fan base of over 44 million followers across the leading social media platforms.
Added Roberto Celaya Burruel, Partner of Grupo Ensejal, "We are excited to be a part of the rapid expansion of the Ignite brand and bringing it to Mexico. We have been watching what Dan Bilzerian has been doing with Ignite over the past year in the United States and we are confident we can continue the buzz for our neighbors to the north."
About Ignite International, Ltd.
Founded by Dan Bilzerian, based in Los Angeles, and spanning a wide variety of cannabis and CBD products, Ignite wants to change what users, and society, think about cannabis and CBD. Ignite has built the world's first super-premium cannabis lifestyle brand, currently for sale in dispensaries across California and Nevada with the company's CBD products sold nationally online. From packaging and branding, to what's inside, Ignite delivers at the highest level and builds on the foundation that trust and quality truly matter. For more information on Ignite's complete line of CBD products, visit Ignitecbd.co.
About Ignite International Brands, Ltd.
Ignite International Brands, Ltd. is a CSE-listed company operating in the cannabis industry. Ignite International Brands, Ltd. intends to expand its business, which currently includes branding, marketing, licensing, sales and distribution, across the United States, Canada and into international jurisdictions, and leverage multiple product platforms. Ignite International Brands, Ltd. intends to effect this expansion through brand leverage, product development, targeted marketing and strategic supply chain partnerships in each of the target jurisdictions. As CEO and Chairman, Dan Bilzerian takes an active role and is deeply involved in the development of global strategic initiatives intended to establish Ignite International Brands, Ltd. as a global leader in the cannabis and CBD space.
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, statements with respect to the intended business, distribution and marketing strategies of the joint venture. 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; ability of Ignite and Grupo Ensejal to give effect to their business plan; reliance on Dan Bilzerian and 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, building a global cannabis brand and the ability of Ignite to capture significant market share; and the uncertainties surrounding the cannabis industry in North America and internationally. 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. Ignite International Brands, Ltd. and Ignite disclaim 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.
SOURCE Ignite International Brands, Ltd.
Released July 23, 2019