VANCOUVER, British Columbia, April 19, 2018 (GLOBE NEWSWIRE) -- Isodiol International Inc. (CSE: ISOL) (OTC: ISOLF) (FSE: LB6A.F) (the “Company” or “Isodiol”), a global Bioactive CBD innovator specializing in the development of pharmaceutical and wellness products, is pleased to announce that the Company has signed a definitive agreement to acquire 19.9% of Compass Cannabis Clinic (“Compass”), a leading Canadian clinic and retailer headquartered in Kelowna, British-Columbia.
Under the terms of this acquisition, Isodiol will have exclusive CBD distribution rights for its family of brands through the Compass distribution network.
Compass has quickly established itself as one of Canada’s largest medicinal marijuana networks, with existing operations in the medical business and a proposed retail expansion, pending regulation. With 39 locations already secured or in development across Western Canada and with additional expansion expected in the near future.
Post legalization, many current Compass locations will evolve into a retail business model, where provincial and municipal licensing allows, thus running both business models simultaneously. The Compass medical operation will also begin exploring opportunities in international markets, including expanding into Australia in the third quarter of 2018, through existing operational partnerships.
“Compass has put together an excellent business plan to capitalize on the upcoming medical and retail opportunities in select provinces and to establish itself as one of Canada's largest and most trusted cannabis clinic operations,” said CEO of Isodiol, Marcos Agramont. “Compass differentiates itself in the marketplace by offering prime locations, free appointments and most importantly exceptional patient education, care and support, which align well with our values.”
Furthermore, through Compass clinics and stores, Isodiol will set up a distribution channel for its family of THC-free Cannabidiol brands and products, pending regulation in Canada. Isodiol will also provide Compass with a private label line of additional Cannabidiol products for its fast growing patient base.
“We are pleased to be forming a strategic relationship with Isodiol, the leading CBD provider in the marketplace, and to secure our patients with excellent access to a full line of the highest quality Cannabidiol products,” said Dave Martyn, President of Compass Cannabis Clinic. “In addition to our supply agreement, Isodiol’s equity participation will help strengthen our profile and support the continued expansion of our footprint and operation. We have already established Compass as a leading private cannabis retailer in Western Canada and we are actively going to pursue additional retail licensing opportunities across the country."
Per the agreement, Isodiol will issue a total of $4,000,000 CDN, with $2,000,000 paid in cash and $2,000,000 paid in stock for the 19.9% of equity acquisition, subject to 36-month escrow.
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 CBD 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.
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ON BEHALF OF THE BOARD
Marcos Agramont, CEO & Director
INVESTOR RELATIONS:
Ir@isodiol.com
www.isodiol.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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