VAUGHAN, Ontario, Sept. 02, 2020 — IGNITE International Brands, Ltd. (CSE:BILZ, OTCQX: BILZF) (“IGNITE” or the “Company”), a global consumer packaged goods brand, announced today that John Schaefer, the Company’s current Chief Operating Officer, has been appointed President and Chief Operating Officer, effective September 1, 2020. Mr. Schaefer replaces Lester Lee as President, who resigned effective August 31, 2020. Mr. Lee will remain on the Board of Directors of the Company.
Mr. Schaefer has more than 25 years of experience leading operations for manufacturing, bio-science/agriculture, and retail organizations. This experience, in combination with his engineering background, has enabled him to create and implement efficient, state of the art operations and supply chains for start-up and multi-billion-dollar businesses. Prior to his role as COO at IGNITE, Mr. Schaefer worked in leadership roles establishing and scaling rapid-growth cannabis companies including MedMen and Bayer (previously Monsanto) where he led an organization of 38 sites in five countries overseeing 10,000+ employees/contractors and $7.8 billion in annual revenue. He also served a senior leadership role at Wegmans, a grocery chain, where he was responsible for modernizing the supply chain and growing the company’s footprint to new regions.
“I am pleased to be appointed President and continue my role as the Chief Operating Officer at a very exciting time in the life of IGNITE. We now have an excellent management team that is focused on launching several new and exciting products and bringing IGNITE to several countries using local industry partners,” stated Mr. Schaefer.
IGNITE 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, 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.
Since the launching of its THC and CBD products, the Company has expanded into the beverage space, launching a full line of functional performance enhancing drinks, and will be launching additional consumer products early this month.
IGNITE is a socially responsible company and is committed to using its marketing and brand power as a positive catalyst for a healthy lifestyle. The IGNITE management team believes that socially responsible oriented actions have a positive impact on the Company, its employees and its shareholders.
Shares of IGNITE are listed on the Canadian Securities Exchange (CSE) under the symbol “BILZ” and quoted in the United States on the OTCQX under the symbol “BILZF”.
Further information on IGNITE can be found on the Company’s website at ignite.co
For further information, please contact:
Linda K. Menzel, General Counsel
Cautionary Statement Regarding Forward-Looking 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 IGNITE, its ability to launch new products and its ability to expand internationally. 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 which 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; the effects and impacts of the coronavirus disease (COVID-19) pandemic, the extent and duration of which are uncertain at this time on IGNITE’s business and general economic and business conditions and markets; the ability of IGNITE to give effect to its business plan; reliance on the “IGNITE” brand which may not prove to be as successful as contemplated; the ability to and risks associated with unlocking future licensing opportunities with the “IGNITE” brand, and the ability of IGNITE to capture significant market share. There can be no assurance that any of the forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. 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 because of new information, future events or otherwise, except as required by law.