Isodiol International Inc. (CSE:ISOL) (OTC:ISOLF) (FSE:LB6A.F) (the “Company” or “Isodiol”), a global CBD innovator specializing in hemp based health and wellness products, the development of pharmaceutical CBD delivery methods and the manufacturing of a pure, natural CBD as an Active Pharmaceutical Ingredient (API) for use in finished pharmaceutical products (FPPs), is pleased to announce that it has entered into a binding agreement to acquire 51% of Round Mountain Technologies, LLC (“RMT”), a cultivator of organic hemp with operations in Nevada.
RMT holds a license from the State of Nevada to cultivate organic hemp in Nye County. The property consists of approximately 155 acres, of which RMT and Isodiol intend to plant 70 acres within the coming weeks, initially. RMT and Isodiol will contribute to Nevada’s local economy by ensuring that all hemp harvested by RMT will be processed within the State of Nevada.
Under the terms of the agreement, Isodiol will commit funding of US$400,000 in cash to RMT for working capital and general obligations and issue US$250,000 in Isodiol stock based on the May 22, 2018 closing price, subject to 36-month lock-up/leak-out guidelines, in exchange for the 51% RMT ownership interest.
“This transaction is another significant milestone in Isodiol’s storied path to success,” said Marcos Agramont, CEO of Isodiol. Mr. Agramont continued, stating, “We are pleased to be working with RMT and increasing our US organic hemp biomass supply for CBD production.”
Isodiol has successfully pursued its strategy of establishing a globally dominant position in the cultivation of jurisdictionally compliant industrial hemp and manufacturing of jurisdictionally compliant CBD consumer products. To date, Isodiol has the ability to legally source, cultivate, and/or manufacture industrial hemp on three continents, North America, Continue Reading