IONIC Brands Corp., (IONC) (IONC.CN) Enters Las Vegas, Nevada With Acquisition of Vegas Valley Growers North

IONIC Brands Corp., formerly Zara Resources Inc. (CSE: IONC; FRA: IB3) (“IONIC BRANDS” or the “Company”) is pleased to announce that it has completed the acquisition of Vegas Valley Growers North (“VVG”) located in Las Vegas, Nevada, previously announced on April 2, 2019.  VVG is a vertically-integrated, cash flow positive opportunity with a projected 2019 revenue of US$6.6 million, expected gross profits of US$3.1 million and EBITDA of US$2.0 million.

According to Arcview Market Research and Nevada State Department of Taxation, medical and adult-use spending on cannabis is projected to be over US$400 million in 2019 and US$500 million in 2020.  Sales records were set during the first six months of 2018 where Nevada sold more than US$195 million in cannabis products compared to US$67 million in Washington State and US$114 million in Colorado in the same period.

https://marijuanastocks.com/ionc-ionc-cn-enters-las-vegas-nevada-with-acquisition-of-vegas-valley-growers-north/

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