Ionik Engages Sophic Capital for Capital Markets Advisory Services
Toronto, Ontario–(Newsfile Corp. – November 8, 2023) – PopReach Corporation (doing business as Ionik) (TSXV: INIK) (OTCQX: INIKF) (“Ionik” or the “Company“), a multi-platform technology company focused on assembling the most effective and complete suite of advertising, marketing and monetization solutions for brands, advertisers and publishers, announces that it has engaged Sophic Capital Inc. (“Sophic“) to provide capital markets advisory services under an agreement dated November 7, 2023 (the “Agreement“). The Agreement and the obligations of the Company under the Agreement are subject to the approval of the TSX Venture Exchange (the “TSXV“).
“We’ve been following Ionik closely as it executes its acquisition and optimization strategies to build its suite of advertising and marketing technology for brands,” said Sean Peasgood, President and CEO of Sophic. “And as digital ad spend continues to grow amongst brands in a highly fragmented marketing environment, I believe Ionik has significant opportunities to consolidate the space and increase its strength in the industry. On behalf of Sophic’s partners and employees, I’d like to thank Ionik for selecting us to develop its capital markets strategy and expand communication of this innovative, fast-growing company.”
Services to be provided by Sophic pursuant to the Agreement will include assisting the Company in the preparation of an investor communications plan, investor materials, news releases, roadshows and conference calls. Sophic will also introduce the Company to its network of professional analysts, as well as institutional and retail investors.
Sophic’s engagement will extend for a period of six months commencing on November 7, 2023 (the “Effective Date“) and renew automatically for successive six-month terms unless earlier terminated by the parties. The Agreement allows for mutual termination for convenience on thirty days’ notice, except during the initial six-month period.
Ionik will pay Sophic a fee of C$12,000 per month. In addition, Sophic will receive an aggregate of 1,000,000 stock options (the “Options“) under the Company’s First Amended and Restated Omnibus Equity Incentive Plan (the “Ionik Plan“). Each Option shall be exercisable to purchase one common share in the capital of the Company (each, a “Share“) at an exercise price per Share that is equal to C$0.30. The Options will vest as to ¼ of the total Options every three months over the course of the twelve month period following issuance thereof. The vested Options shall be exercisable until the earlier to occur of (1) the date that is 12 months following the date Sophic ceases to be an eligible participant under the Ionik Plan; and (ii) 5 years following the issuance date of the Options. Issuance of the Options is subject to review and approval by the TSXV.
The Company further announces its termination, effective November 25, 2023, of the investor relations engagement announced by the Company on August 12, 2020.
Ionik, a Tier 1 Issuer on the TSX Venture Exchange, with shares also trading on OTCQX® Best Market, is a multi-platform technology company focused on assembling the most effective and complete suite of advertising, marketing and monetization solutions for brands, advertisers and publishers. We acquire, optimize and scale market-leading digital technology businesses providing cross-platform, performance-driven advertising and data solutions to attract, engage and monetize high-value consumers. Our portfolio includes: PopReach Games, a free-to-play mobile game publisher; NotifyAI, a push notification advertising platform; Q1Media, an industry-leading advertising and media service provider; Ubiquity, a data driven user acquisition and marketing technology platform; SCS, an integrated agency powering brand performance with data and creativity; Contobox, a leading edge customer engagement platform integrated with SCS; and OpenMoves, a Google Premier Partner driving creative and growth across pay-per-click advertising and search engine optimization. Ionik is a registered business name of PopReach Corporation and is the name under which the Company currently operates its business.
Additional information about the Company is available at www.sedarplus.ca.
Sean Peasgood, Sophic Capital
Chief Financial Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
Certain information in this news release constitutes forward-looking statements and forward-looking information under applicable Canadian securities legislation (collectively, “forward-looking information”). Forward-looking information include, but are not limited to, statements with respect to and the business, financials and operations of the Company. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events. Forward looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements and future events to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the public documents of the Company available at www.sedarplus.ca. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Investors are cautioned that undue reliance should not be placed on any such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
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