Vancouver, BC-based Isodiol International (CSE: ISOL) (OTC: ISOLD), a global marketer of hemp-based branded and bulk products and delivery systems, agreed to buy 51% of Round Mountain Technologies, LLC (RMT), a cultivator of organic hemp with operations in Nevada.
CEO Marcos Agramont said that due to favorable legislative and regulatory outcomes, Isodiol is focusing on cannabinoids (such as CBD) produced from hemp versus other sources.
RMT holds a license to cultivate organic hemp in Nye County, Nevada. The property is 155 acres, of which they intend to plant 70 acres within the coming weeks, initially. All hemp harvested by RMT will be processed within the State of Nevada, contributing to the local economy
Isodiol will pay US$400,000 cash to RMT and issue US$250,000 in Isodiol stock, subject to 36-month lock-up, in exchange for the 51% RMT ownership interest
“We are pleased to be … increasing our US organic hemp biomass supply for CBD production.” said Marcos Agramont, CEO of Isodiol.
Isodiol’s strategy is to become a globally dominant cultivator of industrial hemp and manufacturer of CBD consumer products.
Isodiol can now legally source, cultivate, and/or manufacture industrial hemp on three continents—North America, Europe, and Asia. Its UK Subsidiary, BSPG Laboratories Ltd. produces CBD that has been approved as an active pharmaceutical ingredient (API) by the UK regulatory authorities for use in finished pharmaceutical products (FPPs).
“We believe we produce the purest, natural CBD in the industry. … Isodiol will continue to pursue global recognition and approval of API grade CBD and expand our distribution of CBD consumer products … while continuing to expand our manufacturing capabilities throughout the world,” said Agramont
“Isodiol’s previous efforts to seek alternative sources of CBD, such as through novel hop strains, are still of interest to Isodiol, but due to favorable legislative and regulatory outcomes, Isodiol is focusing on cannabinoids produced from hemp. Presently, sources for Cannabinoids other than hemp would take longer and cost substantially more to develop,” said Agramont.
Isodiol is the market leader in pharmaceutical grade phytochemical compounds and the industry leader in the manufacturing and development of CBD consumer products.
It has pioneered many firsts for the cannabis industry including commercialization of 99%+ pure, pharmaceutical grade cannabinoids, micro-encapsulations, and nanotechnology for the highest quality consumable and topical skin care products. It received approval from the UK for the first CBD designated as an Active Pharmaceutical Ingredient, announced in April 2018.
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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Source Isodiol press release