Ignite International Brands, Ltd. (CSE:BILZ, OTCQX:BILZF) (“Ignite” or the “Company”) announced today that its President Jim McCormick resigned from the Company as of November 4, 2019. The Company would like to thank Mr. McCormick for his contribution during his tenure as President.
The Company is also pleased to announce that it has appointed Curtis Heffernan, currently serving as Executive Vice President, to also serve as acting President effective as of November 4, 2019. The Board is not actively looking for a new President at this time.
Grant of Options
The Company also announces that it has granted an aggregate of 4,330,000 options to a director and certain employees of the Company pursuant to the Company’s stock option plan (the “Options”). The Options entitle the holders thereof to acquire, in the aggregate, up to 4,330,000 subordinate voting shares of the Company at an exercise price of $2.25 per subordinate voting share expiring on June 3, 2024.
Ignite is a CSE-listed and OTCQX traded company operating in permissible CBD and cannabis sectors. Ignite intends to expand its business, which currently includes branding, marketing, licensing, sales and distribution, across the United States, Canada and into international jurisdictions such as the United Kingdom and 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.