Ignite International Brands Ltd.
The exchange approved Ignite’s combination with Ignite International Ltd., uniting the Canadian and U.S. legal entities of the firm. Shares were halted on Mar. 1, 2019, during a reorganization process and the company has now re-emerged as a freely traded company on the CSE.
It is all part of a grand plan to fund the company and take it to the next level. BILZ opened today at $1.35 and president Jim McCormick said it represented a key milestone as his team bids to turn Ignite into a global premium consumer brand.
Professional poker player and social media superstar Dan Bilzerian created Ignite after spotting a gap in the market for a brand-driven marijuana company. It does not cultivate cannabis itself, instead adopting an asset-light model and teaming up with white-label producers to source flower and THC and CBD extracts to create a range of products. They include vape pens, CBD drops and CBD toothpicks, which have gained a lot of attention.
Cashing in on the Bilzerian Brand
Bilzerian is well known for his lavish, aspirational lifestyle after winning tens of millions of dollars during a high-profile poker career, and he has more than 40 million social media followers. He chronicles his outrageous exploits, hangs out with supermodels and hosts decadent parties, which has proven to be a winning combination on social media, providing him with a strong consumer base to market Ignite products to.
Last week the firm, based in Vaughan, Ontario, completed a financing round for gross proceeds of $28.5 million to support ambitious growth plans. “I’ll spare no expense, cut no corners, and do whatever needs to be done in order to build Ignite into a world-renowned cannabis brand,” says Bilzerian.
Ignite has already secured listings at a number of dispensaries in Nevada and California, where it has gained a great deal of attention through eye-catching billboard advertising. Scantily clad models pose seductively alongside slogans like “Best Buds” and “Nice Grass”, drawing the ire of some parents in the Golden State.
International Expansion Plans
It also has international expansion plans and it recently tied up a deal with London-based white-label CBD producer Taylor Mammon to launch into the UK market. The firm offers vaping, beauty products, cosmetics, edibles, beverages, supplements, and lifestyle wellness products, all infused with CBD and ready to be sold in the UK market, where CBD use is becoming a major wellness trend.
Bilzerian founded the firm in 2016 and it was previously called Green Axis Capital Corp. before it changed its name to Ignite in January 2019 to reflect the strength of the Ignite brand.
It has been expanding its leadership team and it is looking at joint ventures, acquisitions and strategic partnerships as it bids to boost its presence in North America and elsewhere. McCormick has more than 20 years of experience in the consumer goods industry, including the tobacco sector, and he is putting in the hard yards behind the Bilzerian brand.
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