In addition to the Company being cash flow positive, the receipt of over $1,000,000 from the exercise of warrants helps strengthen the Company’s financial resources and balance sheet.
“The exercise of the warrants is another great step for our company to further strengthen our balance sheet,” said Brandon Kou, CEO of Icanic Brands. “This vote of confidence from our investors is validation for our team and continues to show us we are moving in the right direction on a daily basis. We are excited to be able to utilize this additional capital in meaningful ways to further increase shareholder value.”
Icanic Brands would also like to announce the Company has entered into a 6 month marketing and consulting contract with North Equities Corp., (“North Equities”). North Equities will facilitate greater investor engagement and widespread dissemination of the Company’s news as well as increase the Company’s current social media presence.
In accordance with the terms of the agreement, the Company will issue North Equities 183,150 common shares (the “Shares”) at a deemed price of $0.546 per share, for a 6-month engagement ending September 12, 2021. The Shares are priced by calculating the 7-day volume-weighted average trading price of the Company’s common shares for the 7 trading days prior to the execution of the Agreement. All Shares issued are subject to a statutory 4-month hold period.
About North Equities:
The North Equities team has more than 100 team-years of equity experience and has helped more than 200 companies acquire more than 120k+ investors combined. With the perfect combination of expertise, tactics, and a track record in fundraising and marketing, North Equities has created the next evolution of investor engagement and marketing.
About Icanic Brands Company, Inc.
Icanic Brands Company, Inc. is a leading cannabis branded products manufacturer based in California & Nevada, the largest and most competitive cannabis markets in the world. The company’s mission is to make cannabis safe and approachable – that starts with manufacturing high-quality products delivering consistent experiences.
For more information, please visit the company’s website at: www.icaninc.com.
About Ganja Gold
Ganja Gold, Inc., a wholly-owned subsidiary of Icanic Brands Company, Inc. (CSE: ICAN, OTCQB: ICNAF), is the premier brand of infused pre-rolls in the state. Ganja Gold focuses on using only the best available flower and concentrates with state of the art proprietary technology to create connoisseur level pre-rolls unseen in the marketplace. With our flagship Tarantula™, Ganja Gold continues to set the bar in quality and experience.
For more information about Ganja Gold, visit their website at www.ganjagold.com