VANCOUVER, British Columbia, Dec. 06, 2017 (GLOBE NEWSWIRE) -- Isodiol International Inc. (CSE:ISOL) (OTC:ISOLF) (FSE:LB6A.F) (the “Company” or “Isodiol”), a global Bioactive Phytoceutical innovator specializing in the development of pharmaceutical and wellness products, is pleased to announce that it has entered into a Binding Agreement to acquire 25% of Canadian National Pharma Group Inc., a pharmaceutical manufacturing company which is currently in the final stages of receiving its Licensed Dealer (“LD”) status under the provisions of the Canadian Controlled Drugs and Substances Act, in order to commence production of cannabis and hemp extracts or isolate. The agreement, which entails complete exclusivity to Isodiol for use of the license and facility, includes an option which provides Isodiol with rights of first refusal in future offerings, and to expand its ownership in CN Pharma to an overall controlling interest.
CN Pharma has completed the build of a Health Canada compliant facility according to the highest standards for Health Canada’s final inspection, with more than 9,750 sq.ft of usable space, located in the city of Abbotsford, BC. Within this facility, the company will be able to process and manufacture controlled substances, including cannabis and hemp, with the ability to expand the footprint if necessary.
Licensed Dealers approved by Health Canada have the right to handle all cannabis derivatives, import and export oils and isolates, prepare various formulation and mixtures, participate in research or testing activities, and conduct new product and drug development.
“As a supplier of raw materials and active pharmaceutical ingredients, our company prides itself on its quality and standards, supplier selection process, audits, and inspections,” said Marcus Dahl, President and CEO of CN Pharma. “We strongly believe this partnership will help elevate CN Pharma to new levels through additional capital investments into our infrastructure growth and expansion of facilities, equipment, and services.”
Marcos Agramont, CEO of Isodiol, said, “With this acquisition, we will continue to position Isodiol as a global provider of pharmaceutical grade phytoceuticals, by developing high quality bioactive products within many different verticals such as personal care products, beverages and edibles, topicals, nutraceutical supplements, and capsules. Our roadmap in Canada includes further vertical integration from growth to extraction, as well as the processing and manufacturing of goods.”
As a part of this initial transaction and upon successful completion of obtaining the LD license, the company will pay $500,000 Canadian and $1,000,000 in equity subject to CSE escrow rules.
For more information on Isodiol, please visit www.isodiol.com.
For more information on CN Pharma, please visit www.canadiannationalpharmagroup.com.
About Isodiol International Inc.
Isodiol International Inc. is the market leader in pharmaceutical grade phytochemical compounds and the industry leader in the manufacturing and development of phytoceutical consumer products.
Isodiol is the pioneer of many firsts for the cannabis industry including commercialization of 99%+ pure, bioactive pharmaceutical grade cannabinoids, micro-encapsulations, and nanotechnology for the highest quality consumable and topical skin care products.
Isodiol's growth strategy includes the development of over-the-counter and pharmaceutical drugs, expanding its phytoceutical portfolio and will aggressively continue international expansion into Latin America, Asia and Europe.
Join Us On Facebook: https://www.facebook.com/isodiol/
Twitter: @isodiol
ON BEHALF OF THE BOARD
Marcos Agramont, CEO & Director
604-409-4409
marcos@isodiol.com
INVESTOR RELATIONS:
Ir@isodiol.com
www.isodiol.com
MEDIA CONTACT:
Carrie Booze
North 6th Agency
212-334-9753 ext.142
Isodiol@n6a.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 of 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 to not 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.