Ionic Brands Corp. announced a private placement of unsecured, non-convertible , demand promissory note with YourWay Cannabis Brands Inc. for gross proceeds of $2,000,000 on May 24, 2022. The note bears interest at 7% per annum.

The principal and all accrued and unpaid interest under the note become due and payable on demand. No regulatory approvals are required in connection with the execution or delivery of, or the performance of either party's obligations under the note.