VANCOUVER, British Columbia, June 12, 2018 (GLOBE NEWSWIRE) -- Isodiol International Inc. ( CSE : ISOL ) ( OTC : ISOL F ) ( FSE: LB6A.F ) (the “Company” or “Isodiol”) , a global CBD innovator specializing in hemp based health and wellness products, the development of pharmaceutical CBD delivery methods and the manufacturing of a pure, natural CBD as an Active Pharmaceutical Ingredient (API) for use in finished pharmaceutical products (FPPs), is pleased to announce that it has entered into a binding agreement to acquire 51% of Round Mountain Technologies, LLC (“RMT”), a cultivator of organic hemp with operations in Nevada.
RMT holds a license from the State of Nevada to cultivate organic hemp in Nye County. The property consists of approximately 155 acres, of which RMT and Isodiol intend to plant 70 acres within the coming weeks, initially. RMT and Isodiol will contribute to Nevada’s local economy by ensuring that all hemp harvested by RMT will be processed within the State of Nevada.
Under the terms of the agreement, Isodiol will commit funding of US$400,000 in cash to RMT for working capital and general obligations and issue US$250,000 in Isodiol stock based on the May 22, 2018 closing price, subject to 36-month lock-up/leak-out guidelines, in exchange for the 51% RMT ownership interest.
“This transaction is another significant milestone in Isodiol’s storied path to success,” said Marcos Agramont, CEO of Isodiol. Mr. Agramont continued, stating, “We are pleased to be working with RMT and increasing our US organic hemp biomass supply for CBD production.”
Isodiol has successfully pursued its strategy of establishing a globally dominant position in the cultivation of jurisdictionally compliant industrial hemp and manufacturing of jurisdictionally compliant CBD consumer products. To date, Isodiol has the ability to legally source, cultivate, and/or manufacture industrial hemp on three continents, North America, Europe, and Asia. Additionally, Isodiol’s UK Subsidiary, BSPG Laboratories Ltd. produces CBD that has been approved as an Active Pharmaceutical Ingredient (API) by the United Kingdom Medicines and Healthcare Products Regulatory Agency (MHRA) for use in Finished Pharmaceutical Products (FPPs).
“We believe we produce the purest, natural CBD in the industry. The API is recognition of that achievement. Isodiol will continue to pursue global recognition and approval of the API grade CBD and expand our distribution of CBD consumer products in new jurisdictions while continuing to expand our manufacturing capabilities throughout the world,” said Agramont.
“Isodiol has come to embrace the positive legal developments in legislation, regulations, and agency interpretations in jurisdictions throughout the world that have paved a legal pathway for Isodiol to legally and commercially produce pure, natural CBD from industrial hemp,” said Agramont. Agramont went further to say, “Isodiol’s previous efforts to seek alternative sources of CBD, such as through novel hop strains, are still of interest to Isodiol, but due to favorable legislative and regulatory outcomes, Isodiol is focusing on cannabinoids produced from hemp. Presently, sources for Cannabinoids other than hemp would take longer and cost substantially more to develop.”
For more information on Isodiol, please visit www.isodiol.com
About Isodiol International Inc.
Isodiol International Inc. is the market leader in pharmaceutical grade pure, natural CBD and the industry leader in the manufacturing and development of CBD consumer products.
Isodiol is the pioneer of many firsts in the CBD industry, including the commercialization of 99%+ pure, natural isolated CBD, micro-encapsulations, and nano-technology for the highest quality consumable and topical skin care products. Most recently, the company received approval for its CBD designated as an Active Pharmaceutical Ingredient for use in Finished Pharmaceutical Products as was announced April 26, 2018 .
Isodiol’s growth strategy includes the development of over-the-counter and pharmaceutical drugs, expanding its consumer products portfolio and aggressively continue international expansion into Latin America, Asia, and Europe.
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ON BEHALF OF THE BOARD Marcos Agramont, CEO & Director
INVESTOR RELATIONS: Ir@isodiol.com www.isodiol.com
Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable securities laws relating to statements regarding the Company's business, products and future the Company’s business, its product offerings and plans for sales and marketing. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Company's products and plan will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation and does not intend, to update any forward-looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct and makes no reference to profitability based on sales reported. The statements in this news release are made as of the date of this release.
The CSE has not reviewed, approved or disapproved the content of this press release.
