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22.02.2019 14:23
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Ignite International Brands Terminates Letter of Intent to Acquire Gen X Biosciences Corp.

DRUCKEN

(CSE: BILZ)

VAUGHAN, ON, Feb. 22, 2019 /CNW/ - Ignite International Brands, Ltd. (formerly Green Axis Capital Corp.) (the "Company" or "Ignite") announces that, as a result of its due diligence, it has terminated its letter of intent to acquire all of the issued and outstanding common shares in Gen X BioSciences Corp. that was previously announced by the Company on January 21, 2019.

About Ignite International Brands, Ltd.

Ignite International Brands, Ltd. is an investment company with a focus on opportunities in the Canadian and global cannabis sector. The Company has a Trademark & Copyright License Agreement with Ignite International, Ltd., a company founded by Dan Bilzerian, that permits it to market, promote, manufacture, sell, and distribute Ignite branded products in Canada and in all international markets, as well as investments in cannabis and cannabis-related companies.

THE CANADIAN SECURITIES EXCHANGE (CSE) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING AND OTHER INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the execution of the business plans of the Company and Ignite International, Ltd. Forward-looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors that may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; ability of the parties to give effect to their respective business plans; reliance on Dan Bilzerian and the Ignite brand which may not prove to be as successful as contemplated; and the uncertainties surrounding the cannabis industry in North America and globally. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. In this regard, there can be no assurance that the investment transaction referred to herein will close. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Ignite International Brands, Ltd.

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