NICI Quick Take
Ionic Brands is a luxury cannabis vaporizer brand. The Company currently has the #1 vaporizer pen brand in Washington State under its brand, Ionic. It currently sells in the western part of the US, including Washington, California, Oregon and Colorado and has recently obtained a distribution license in Las Vegas, Nevada. Along with the license, it also acquired Vegas Valley Growers, production facility. It is 1,700 sq. ft but is extending it to 70,000 sq. ft. with a date of completion to be in June, 2019. A second, 65,000 sq. ft. facility is being built and is to be competed by Q3 2019.
It acquired a Washington based edibles company called Zoots. The product is currently sold in Washington and Colorado.