Isodiol International Inc. just entered a binding agreement to acquire 51% of California-based Farmtiva LLC. Farmtiva provides hemp farming and distribution support to farmers and other industry interests.
Farmtiva plans to cultivate the first legal hemp crop in California in partnership with the Imperial Valley Conservation Research Center (IVCRC) within the next three weeks. This will be the first legal hemp cultivation in California under the 2014 Farm Bill.
The 2014 Farm Bill legalized the cultivation of hemp in accordance with state laws. Hemp cultivation in California is regulated by the California Department of Food and Agriculture (CDFA). California permits cultivating hemp for the legal sale of seed, oil, and fiber on a minimum of one acre.
Farmtiva believes that California is a premier location to grow hemp because it has one of the largest agricultural infrastructures in the United States.
Chris Boucher, hemp pioneer and Farmtiva CEO, is confident that the partnership with
Isodiol and IVCRC will boost the economy. He said: “This partnership enables us to operate an industrial hemp research and grow operation on the grounds of the former US Department of Agriculture research facility, creating new jobs and investments in the community.”
Isodiol will issue Farmtiva $1,050,000 in stock, subject to a 36-month escrow, based on the closing price on April 30. The agreement is dependent on Farmtiva implementing the contract rights set in the outstanding Memorandum of Understanding (MOU) with IVCRC.
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. Besides this, the company plans to aggressively expand into international markets like Latin America, Asia, and Europe.