Isodiol International Inc. Announces Letter of Intent https://globenewswire.com/news-release/2018/01/11/1287285/0/en/Isodiol-International-Inc-Announces-Letter-of-Intent-to-Import-99-Pure-Pharma-Grade-Cannabidiol-to-Canada-From-U-K-With-Nuuvera.html
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.
For more information on Isodiol, please visit www.isodiol.com
For more information on Nuuvera, please visit www.nuuvera.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.
About Nuuvera Holdings Limited
Nuuvera Holdings Limited is a global cannabis company founded on Canadian principles, and built with the whole world in mind. Nuuvera is currently working with partners in Germany, Israel and Italy, and is exploring opportunities in several other countries, to develop commercial production and global distribution of medical grade cannabis in legalized markets. Through its subsidiaries, ARA – Avanti Rx Analytics Inc. and Avalon Pharmaceutical Inc., Nuuvera holds a Dealer License (GMP) under the Narcotic Control Regulations and Office of Controlled Substances. Nuuvera is currently in the final stages of the Health Canada review process to become a Licensed Producer of medical marijuana under the ACMPR, and has recently received its “letter to build” approval.
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ON BEHALF OF THE BOARD
Marcos Agramont, CEO & Director
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 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.
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