$ISOLF News out!
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.”
