Ionic Brands (CSE: IONC) announced this morning that it has struck a distribution deal for its line of Zoots Premium Cannabis Infused Edibles in the state of Illinois with that of PharmaCann. Expected to be available this month, PharmaCann is to be the exclusive Illinois distributor for Zoots product.
Ionic’s Zoots Edibles will be distributed by PharmaCann’s Verilife dispensaries across Illinois, where they will offer drops, chews and energy shots from the Zoots product family. It is expected that all Verifilife locations within the state will carry Zoots products, which includes locations in Ottawa, Arlington Heights, North Aurora, Romeoville, and Evanston.
The product will also be sold at other locations throughout the state of Illinois thanks to PharmaCann’s exstensive wholesale network.
“We are excited to offer Illinois patients access to the Zoots line of premium edible products initially through our Verilife branded dispensaries, with plans to extend this offering to patients throughout the entire state of Illinois via our extensive wholesale network.”Brett Novey, Chief Operating Officer for PharmaCann
PharmaCann is a Chicago, Illinois based multi state operator that currently has active operations within four states, and cannabis licenses across a total of eight states. Specifically in Illinois, it serves 80% of the Chicagoland market in the state of 12.74 million people and holds six licenses. It is unclear at this time whether such distribution agreements will be extended to other states in which PharmaCann operates.
Illinois is set to become a fully recreational-legal state in January 2020.
FULL DISCLOSURE: Ionic Brands is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Ionic Brands on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.