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TACOMA, WA / ACCESSWIRE / January 28, 2021 / IONIC BRANDS CORP. (CSE:IONC) (OTC PINK:IONKF) (FRA:1B3) ( IONIC BRANDS or the Company ), a regional multi state operator in the Pacific Northwest region of innovative cannabis edibles and concentrate extract products, is pleased to announce that it has entered into a non-binding proposal letter (the Letter ) with certain holders of secured convertible debentures due May 16, 2022 (the Secured Debentures ) for a proposed exchange (the Proposed Exchange ) of 90% or approximately CAD$16.2 million of the outstanding principal amount of Secured Debentures for preferred voting shares (the Preferred Voting Shares ). The Proposed Exchange represents approximately 72% of the Company s total debt, therefore significantly improving the financial position of Ionic Brands.