Ignite International Brands Ltd (OTCMKTS: BILZF) is making an explosive move up the charts after the Company reported a $25 million buyout from its CEO and chairman of the board Dan Bilzerian. Where Bilzerian is planning to get the $25 million is still in the dark but he does know a lot of rich people.
According to the press release Dan Bilzerian, Chairman of the Board and CEO of the Company, intends to subscribe for and purchase from the Company 50,000 Proportionate Voting Shares on October 26, 2020, based on a price equal to CA$0.50 per Subordinate Voting Share for an aggregate subscription of CA$5 million. The Company also intends to enter into a series of purchase agreements with Dan Bilzerian, and a creditor of the Company on October 26, 2020. Pursuant to the agreements, the Company proposes to issue 200,000 proportionate voting shares in the capital of the Company to settle CA$20 million of convertible debentures currently issued and outstanding. The proposed transactions will include Mr. Bilzerian purchasing the Debentures from a creditor of the Company on October 26, 2020.
Ignite International Brands Ltd (OTCMKTS: BILZF) is a global consumer brand, operating in the premium product segment of the market. Founded by Dan Bilzerian, the Company’s ‘quality–first’ approach is fundamental to the brand and its products. Originally operating in the cannabis and hemp–derived cannabidiol (CBD) wellness space, IGNITE was able to establish its brand awareness. IGNITE product categories now include a full line of CBD oil tinctures, CBD topicals, CBD pet products and CBD vape devices, nicotine and synthetic nicotine vape products, a line of premium performance drinks, named Z–RO as well as a gluten–free, seven–time distilled vodka, and apparel produced by various partners and sold through select distributors, brick and mortar retailers, and online through the Company’s website, ignite.co. The IGNITE THC product line, which was launched subsequent to the CBD product line, incorporates quality, locally sourced, cannabis products. Shares of IGNITE are listed on the CSE under the symbol “BILZ” and quoted in the United States on the OTCQX under the symbol “BILZF”.
IGNITE’s founder and CEO, Dan Bilzerian initially founded the brand as Ignite Cannabis Co. in 2017 to be a catalyst of change in the cannabis industry, and gain legitimacy as the first premium global cannabis brand. The IGNITE brand direction quickly evolved with it’s sights set on being the world’s leading global lifestyle brand. Dan’s involvement with IGNITE is much deeper than just the initial launch of the brand, he’s personally involved with the selection and sourcing of every IGNITE product that goes to market. IGNITE together with Dan have always and will continue to disrupt the market by illuminating the ability to be authentically and unapologetically yourself.
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According to the October 23 press reelase; “the Company is announcing that it has granted an aggregate of four million eight hundred thousand (4,800,000) options to purchase Subordinate Voting Shares in the capital of the Company to certain directors, officers, employees and consultants of the Company pursuant to the Company’s stock option plan (the “Options”). The Options entitle the holders thereof to acquire, in aggregate, up to 4,800,000 Subordinate Voting Shares at an exercise price of CA$0.50 per Subordinate Voting Share, expiring on October 31, 2024.”
Dan Bilzerian said: “As we announced last week, we project Ignite to have a profitable fourth quarter and I am very much looking forward to seeing what the Company can do in 2021, when it should be operating on all cylinders. The new management team is excited to show what it can do in the fourth quarter this year and next year.”
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Currently on the move since BILZF announced a $25 million buyout from the Companies CEO and chairman of the board, Dan Bilzerian on October 26, BILZF is an interesting story developing in small caps; the Company has been establishing its brand; IGNITE which now has products in CBD oil tinctures, CBD topicals, CBD pet products and CBD vape devices, nicotine and synthetic nicotine vape products, a line of premium performance drinks, named Z–RO as well as a gluten–free, seven–time distilled vodka, and apparel produced by various partners and sold through select distributors, brick and mortar retailers, and online through the Company’s website, ignite.co. Investors are wondering where Bilzerian will come up with the money since last we heard he was broke and had moved out of his $200k per month rented house in LA. Ignite does do some significant revenues if they could get their wild spending under control. We all know all the woman in his videos and photos are paid models and Dan did not win his money at poker but rather it was given to him by his father who has had plenty of problems of his own. Dan “the king of instragram” has 32.6 million followers there. We will be updating on Ignite when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Ignite.
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Disclosure: we hold no position in Ignite either long or short and we have not been compensated for this article.