ISODIOL INTERNATIONAL INC. SIGNS DEFINITIVE AGREEMENT TO ACQUIRE 100% OF CANADIAN NATIONAL PHARMA GROUP INC.
Isodiol International Inc. has entered into a definitive agreement to acquire 100 per cent of Canadian National Pharma Group Inc. (CN Pharma), a pharmaceutical manufacturing company. Isodiol previously announced on Dec. 6, 2017, the agreement to acquire an initial stake representing 25-per-cent equity of CN Pharma. The company is now pleased to purchase the remaining 75-per-cent equity and is excited to establish CN Pharma as a wholly owned subsidiary.
Once approved by Health Canada, CN Pharma will be licensed to process and manufacture controlled substances, handle all cannabis and hemp 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.
"This is a strategic acquisition for Isodiol, and we intend to expand our capacity in Canada in a significant way," said Marcos Agramont, chief executive officer of Isodiol. "With this new and up-and-coming facility, Isodiol will be able to refine and isolate the CBD molecule to a pharmaceutical-grade purity of 99.5 per cent plus as well other cannabinoid derivatives. As a certified licensed dealer, Isodiol will continue to establish strategic partnerships and product licensing agreements with licensed producers, and expand our product sales into major retailers across Canada that are looking to enter the fast-emerging CBD market."
Being uniquely positioned with a global footprint and strategy, Isodiol is actively establishing the required infrastructure and partnerships to commercialize its cannabinoid therapeutics, innovating drug formulas and delivery technologies, as well as establishing the best manufacturing practices.
"The CN Pharma structure will provide Isodiol with a unique opportunity to import optimal cannabis and hemp ingredients from various global centres in to Canada and then process and manufacture to the highest quality pharmaceutical standards. The licence will also position Isodiol to export its pharmaceutical products globally from Canada," said Marcus Dahl, president of CN Pharma.
Per the agreement, Isodiol will issue a total of $6-million in stock for 100 per cent of the acquisition, based on the closing price of Feb. 14, 2018, subject to escrow guidelines, per the CSE.
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 CBD consumer products.
Isodiol is the pioneer of many firsts for the cannabis industry including commercialization of over 99-per-cent-pure, bioactive pharmaceutical grade cannabinoids, microencapsulations, 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.
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