VANCOUVER, British Columbia, July 18, 2019 (GLOBE NEWSWIRE) -- Isodiol International Inc. (CSE: ISOL) (OTCQB:ISOLF) (FSE: LB6B.F) (the “Company” or “Isodiol”), announces that the asset purchase agreement among the Company, Iso International LLC and Carlsbad Naturals LLC, a New Mexico limited liability company (“Carlsbad New Mexico”), and the asset purchase agreement among the Company, Iso International LLC and Carlsbad Naturals LLC, a Wyoming limited liability company (“Carlsbad Wyoming”) have been terminated as a result of Carlsbad New Mexico and Carlsbad Wyoming’s failure to perform their respective obligations under the agreements, including the obligation to transfer to the Company the intellectual properties, brands and other assets that formed the subject matter of the transactions.
The transactions relating to these asset purchase agreements (“Transactions”) were announced and described in the Company’s news release dated February 14, 2019.
The Company is working with its professional advisors to unwind the Transactions.
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About Isodiol International Inc.
Isodiol International Inc. is focused on the nutritional health benefits that are derived from hemp and is a product development, sales, marketing and distribution company of hemp-based Consumer Packaged Goods (CPG) and solutions. Isodiol has commercialized a 99%+ pure, naturally isolated CBD, including micro-encapsulations, and nano-technology for quality consumable and topical skin care products. The Company received approval for its CBD as an Active Pharmaceutical Ingredient (API) for use in Finished Pharmaceutical Products (FPPs), as was announced on April 26, 2018. Isodiol’s growth strategy includes the development of over-the-counter and pharmaceutical drugs and continued international expansion into Latin America, Asia, and Europe.
ON BEHALF OF THE BOARD
Marcos Agramont, CEO & Director
INVESTOR RELATIONS:
Ir@isodiol.com
604-409-4409
MEDIA CONTACT:
Christopher Hussey
media@isodiol.com
The CSE has not reviewed, approved or disapproved the content of this press release.
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, proposed arrangement with creditors, 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.