On April 20, 2022, YourWay Cannabis Brands Inc. acquired all issued and outstanding common shares of Ionic Brands Corp. through a definitive arrangement agreement, where Ionic Brands shareholders received a 21% premium per share. This arm's length transaction aimed to expand YourWay's market presence, especially in Washington and Oregon, exposing it to an additional 16 million consumers. The combined entity is expected to be carried by over 450 retailers and will have 12 owned brands across four states. Notably, Ionic Brands' flagship brand, IONIC, is a top premium brand in Washington State. The transaction was structured to offer growth opportunities, increase retail footprint, enhance product offerings, and strengthen leadership with over 70 years of combined experience. Ionic Brands shareholders now have the opportunity to engage in YourWay's growth, with the transaction offering immediate premium and potential cost synergies. The improved financial position of the combined company is expected to support growth initiatives. The transaction will be completed via a court-approved plan of arrangement and requires approval from the shareholders of both companies and the satisfaction of certain other conditions, including regulatory approvals. YourWay has secured voting support from key Ionic Brands' shareholders. The transaction is expected to close in the third quarter of 2022, subject to all approvals and conditions being met.