Ionic Brands Corp. (CNSX:IONC) executed a non binding letter of intent to acquire assets of Precision Alchemy, LLC. for $3.6 million on March 2, 2021. The terms set forth in the letter of intent call for a total purchase price of $3.6 million in cash and stock. The Ionic Brands will pay $0.8 million to Precision Alchemy at closing, an additional $0.2 million over six months, and $2.6 million to be paid in the form of common shares of the Ionic Brands. The two companies have since moved to a Definitive Agreement and the transaction is expected to close on or before April 1, 2021. Ionic Brands Corp. (CNSX:IONC) cancelled the acquisition of assets of Precision Alchemy, LLC. on June 16, 2021. Ionic Brands Corp. will continue to work with Precision Alchemy LLC as a strategic supply partner in the Oregon market