Isodiol International Inc. signed a binding agreement to acquire 51% of Round Mountain Technologies.
Round Mountain is an organic hemp cultivator in Nevada. It has a license to grow organic hemp in Nevada.
Isodiol and Round Mountain will plant 70 acres of hemp in the coming weeks to kick off the project.
The cultivation will boost Nevada’s economy as all the hemp harvested by the two companies will be processed in the state.
Isodiol CEO Marcos Agramont says the partnership is “another significant milestone in Isodiol’s storied path to success.”
The CBD innovator is pleased to work with Round Mountain to increase its organic hemp supply for CBD production.
Isodiol is proud of its ability to legally source, cultivate, and manufacture industrial hemp in North America, Europe, and Asia.
Moreover, Isodiol’s UK subsidiary, BSPG Laboratories Ltd. produces CBD that the United Kingdom Medicines and Healthcare Products Regulatory Agency (MHRA) approved as an active pharmaceutical ingredient (API) to use in finished pharmaceutical products (FPPs).
Isodiol plans to expand into more countries. Mr. Agramont said: “We believe we produce the purest, natural CBD in the industry. The API is recognition of that achievement. Isodiol will continue to pursue global recognition and approval of the API grade CBD and expand our distribution of CBD consumer products in new jurisdictions while continuing to expand our manufacturing capabilities throughout the world.”
Isodiol will pay $400,000 in cash to Round Mountain to use as working capital. The company will also issue $250,000 in Isodiol stock based on the closing price on May 22, 2018, subject to 36-month lock-up/leak-out guidelines.
About Isodiol International Inc.
Isodiol is a market leader in pharmaceutical-grade phytochemical compounds and an industry leader in the development of CBD consumer products. It is one of the pioneers in the commercialization of 99%+ pure cannabinoids, microencapsulation, and nanotechnology.
The company manufactures the highest-quality consumable and topical products for skin care and pain management. Isodiol’s growth strategy includes the development of over-the-counter and pharmaceutical drugs and the expansion of its phytoceutical portfolio.