VANCOUVER, British Columbia, Jan. 11, 2018 (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 signed a letter of intent (LOI) with Nuuvera Holdings Limited (TSXV:NUU), a global cannabis company founded on Canadian principles, and built with the whole world in mind.
Isodiol and Nuuvera have agreed to import 99%+ pure, bioactive pharma-grade cannabidiol ('CBD') isolate into Canada from Isodiol’s GMP-certified production facility in the United Kingdom. The product, certified as a pharmaceutical-grade, will be imported into Canada through Nuuvera’s subsidiary, ARA - Avanti Rx Analytics Inc. ("Avanti"), a Health Canada GMP-certified laboratory holding a dealer license under the Narcotic Control Regulations and Office of Controlled Substances.
“Since establishing Isodiol, we have focused on developing and marketing the highest quality, raw material for use in a range of proprietary, pharma grade nutritional and health related remedies,” said CEO of Isodiol, Marcos Agramont. “We are very pleased that our new partner, Nuuvera, which brings to the table extensive knowledge and expertise in the fields of quality control, cannabis extraction, purification, product development and R&D, shares Isodiol’s vision for an industry built upon quality, consistency, safety, and ultimately, efficacy. Isodiol and Nuuvera are at the global forefront of innovation in the cannabis industry, and the ability to import to Canada is truly ground-breaking for both companies.”
“This agreement marks a meaningful step in Nuuvera executing its strategy to utilize its extensive international operational and production base, built upon a network of GMP-certified analytical testing, extraction, cannabinoid purification, and product formulation facilities, to enhance Canada’s standing as a global leader in this important, emerging sector,” said Lorne Abony, Chief Executive Officer of Nuuvera. “This agreement is prescient and truly ground-breaking in leading the way to providing the best quality and variety of cannabis products to Canadians and in demonstrating Canadian foresight and leadership in setting the standard for cannabis-related health remedies globally.”
Under the LOI terms, Nuuvera will import to Canada a Isodiol’s CBD isolate and conduct analytical testing in its Toronto-area laboratory to ensure that the product conforms to Isodiol’s rigorous product specifications. Nuuvera intends, ultimately, to import up to 30,000 kg of CBD isolate per month for the purposes of R&D, product formulation and production of pharma-grade derivative products. Through its licensed subsidiaries, Nuuvera intends to then sell such products in Canada and via export to appropriately licensed international medical cannabis jurisdictions.
Upon successful initial import and product testing, Nuuvera and Isodiol intend to execute a Definitive Supply Agreement, the terms of which are already substantively agreed upon. The activities contemplated by the LOI remain subject to applicable regulatory approvals, including those from Health Canada and the TSX Venture Exchange.