VANCOUVER, British Columbia, Dec. 17, 2017 (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 the Company has entered into a binding agreement to acquire the Biosynthesis Pharma Group (BSPG), an industry leading producer of industrial hemp, it’s derivatives and pharmaceutical compounds for use in the medicinal, nutraceutical, food and cosmetic industries.
Through BSPG’s industrial-sized, proprietary extraction methodologies, BSPG produces high-purity, bioactive cannabinoids that are used in pharmaceutical applications to benefit those suffering from a range of life-threatening and non-life-threatening illnesses. BSPG is currently conducting clinical trials involving its product through strategic partnerships around the globe.
“It has been a part of Isodiol’s growth strategy to aggressively pursue international expansion. Through this acquisition, the company is aligned to penetrate foreign markets particularly in the United Kingdom, Europe, Asia, South and Central America. We will broaden our product availability and make the most bioactive cannabinoid products available on a global scale. This acquisition puts us at the forefront of global cannabinoid clinical research and studies which will compliment our current efforts in Brazil and other markets we are presently developing,” said Marcos Agramont, CEO of Isodiol.
The BSPG acquisition includes multiple entities that are strategic to the future of Isodiol. Each of these entities are intended to have a distinct purpose within the Isodiol organization, whether it be defined by geography, applicable laws, or line of business. The entities include:
- Biosynthesis Pharma Group Limited (BSPG-HK): organized in Hong Kong and maintains a correspondent office in the United Kingdom. Isodiol is acquiring 100% of BSPG-HK.
- Trigal Pharma GmbH (TP-Austria): organized in Austria, TP-Austria’s business includes, but is not limited to, the handling of regulatory and governmental policies and supply of pharmaceutical-grade CBD to pharmacies in Europe. Isodiol is acquiring 100% of TP-Austria.
- Hankang (Yunnan) Biotech Co., Ltd. (HBTC-China): organized in The People’s Republic of China, HBTC-China’s business includes, but is not limited to, operating a facility approved by the Chinese government to grow hemp as well as extract and export CBD globally. China is the world’s largest producer of hemp and is the largest supplier of raw hemp and fiber to the United States. Isodiol is acquiring 70% of HBTC-China.
- BSPG Laboratories Limited (BSPGL-UK): organized in the United Kingdom, BSPGL-UK’s business includes, but is not limited to, operating a facility that refines the CBD molecule to a purity of 99.5% + that is pharmaceutical-grade, THC-Free and highly bioactive. Isodiol is acquiring 100% of BSPGL-UK.
- Pure CBD Limited (PURE-UK): organized in the United Kingdom, PURE-UK supplies pharmaceutical products under the specials category with the approval of the National Health Service. Isodiol is acquiring 100% of PURE-UK.
- Purodiol Limited (PUR-UK): organized in the United Kingdom, PUR-UK manufactures pharmaceutical products under the brand name Purodiol. Isodiol is acquiring 100% of PUR-UK.
- Purodiol Do Brasil Ltda (PUR-Brazil): organized in Brazil, PUR-Brazil supplies Purodiol pharmaceutical products under ANVISA regulations to patients in Brazil and is currently involved in multiple clinical studies and trials. Isodiol is acquiring 99% of PUR-Brazil.
The company will acquire BSPG for $12,500,000 USD to be paid out over 12 months and stock compensation in the amount of $37,000,000 USD based on the closing price on December 15, 2017. The stock issuance will be subject to a 36-month escrow leak out period. Additional milestone payments are anticipated to be paid and shall be disclosed upon the closing of this transaction. The milestones have been withheld to protect proprietary and intellectual property that are in final stages of development and implementation. The Company will not be assuming any debt as a part of this transaction. The closing of this transaction will happen on or before April 1, 2018 and is subject to further due-diligence by the Company.
All web properties of BSPG have been put on hiatus for the moment and will be released in the very near future. For more information on Isodiol, please visit www.isodiol.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.
ON BEHALF OF THE BOARD
Marcos Agramont, CEO & Director
North 6th Agency
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 of 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.
The CSE has not reviewed, approved or disapproved the content of this press release.