ISODIOL INTERNATIONAL INC. ANNOUNCES LETTER OF INTENT TO IMPORT 99%+ PURE PHARMA-GRADE CANNABIDIOL TO CANADA FROM U.K. WITH NUUVERA
Isodiol International Inc. has signed a letter of intent with Nuuvera Holdings Ltd.
Isodiol and Nuuvera have agreed to import plus-99-per-cent-pure, bioactive pharma-grade cannabidiol 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., a Health Canada GMP-certified laboratory holding a dealer licence 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 Isodiol chief executive officer 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 groundbreaking 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 groundbreaking 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 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 kilograms of CBD isolate per month for the purposes of research and development, 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.
About Isodiol International Inc.
Isodiol International 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 plus-99-per-cent-pure, bioactive pharmaceutical-grade cannabinoids, microencapsulations and nanotechnology for the highest-quality consumable and topical skin care products.
About Nuuvera Holdings Ltd.
Nuuvera Holdings 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 licence (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 (Access to Cannabis for Medical Purposes Regulations) and has recently received its letter to build approval.
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