Ionic Brands Corp. (CNSX:IONC) entered into a letter of intent to acquire assets of Peace, Love and Elixirs, LLC on December 18, 2020. Under the terms of the LOI, Ionic Brands Corp. will pay $600,000 to Peace, Love and Elixirs, LLC at closing. Additional payment of cash and stock will be determined based on definitive documentation and payable at closing of the transaction. Under the terms of the LOI, the companies will immediately move to a Definitive Agreement and have targeted a closing date of mid-February 2021.