Ignite Announces Q3 Results and the Cancellation of Certain Stock Options

VAUGHAN, Ontario, Nov. 29, 2019 (GLOBE NEWSWIRE) -- Ignite International Brands, Ltd. ("Ignite" or the “Company”), announced the release of its financial and operating results for its third quarter ended September 30, 2019.

The Company’s Management Discussion and Analysis (“MD&A”) and interim, unaudited consolidated financial statements for the third quarter ended September 30, 2019, along with all previous public filings may be found on SEDAR at www.SEDAR.com

In addition, the Company announced that it has cancelled a total of 1,160,000 stock options (the “Cancelled Options”) granted to certain officers, directors, and employees of the Company on November 29, 2019.  The Cancelled Options were granted on February 2, 2019, expiring on February 2, 2024 and were exercisable at $3.50 per share.  None of the Cancelled Options had vested in accordance with the terms of the Company’s stock option plan.  The Cancelled Options were voluntarily surrendered by the option holders for no consideration. 

ABOUT IGNITE INTERNATIONAL BRANDS LTD.

Ignite (CSE:BILZ, OTCQX: BILZF) is a CSE-listed and OTCQX traded company operating in permissible CBD and cannabis sectors. Ignite intends to expand its business, which currently includes lifestyle branding, marketing, licensing, sales and distribution, across the United States, Canada and United Kingdom into international jurisdictions such as Mexico by leveraging multiple product platforms. The Company intends to affect this expansion through brand leverage, product development, targeted marketing and strategic supply chain partnerships in each of its active and target jurisdictions.

For More Information Contact:

Eddie Mattei, Chief Financial Officer
ir@ignite.co
T: 905.669.1212

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Source: Ignite International Brands, Ltd.