VANCOUVER, British Columbia--(BUSINESS WIRE)--Isodiol International Inc. (CSE:ISOL) (OTC:ISOLF) (FSE:LB6A.F) (the “Company” or “Isodiol”), a global innovator specializing in the development of pharmaceutical and wellness products, is pleased to announce that it has signed a Letter of Intent (“LOI”) with Zenabis Ltd. (“Zenabis ”), one of Canada’s largest Licensed Producers, to import CBD isolate as an Active Pharmaceutical Ingredient, into Canada from Isodiol’s GMP-certified production facility in the United Kingdom.
Zenabis is a Canadian biopharmaceutical company positioned to become one of the largest cannabis producers in Canada, with facilities totalling more than 400,000 square feet of cannabis production space. Zenabis intends to import a minimum of 3,000 g of such CBD isolate per month for the purposes of R&D and new product formulation.
Marcos Agramont, CEO of Isodiol, stated: “Isodiol is pleased to announce another supply agreement for its highest quality, pharma grade CBD isolate. Zenabis’s team is working on various R&D projects focused on developing new products and applications, and we are pleased to be a key partner in enabling this R&D process.”
“We are excited to move forward with this partnership,” explained Kevin Coft, CEO of Zenabis. “To have a CBD isolate accompanied by an API status sets it apart from every other global source, and we look forward to be working with Isodiol in Canada on new drug development, approved pharmaceutical applications, research, clinical studies and trials.”
Having met all requirements, Isodiol recently announced that the Company’s wholly owned subsidiary BSPG Laboratories LTD. has received government approval from United Kingdom’s Medicines and Healthcare Products Regulatory Agency (MHRA), in accordance with The Human Medicines Regulations 2012 (SI 2012/1916), for the manufacturing of the active substance Cannabidiol (CBD) under certificate number: UK API 48727.
Active ingredients are the substances in drugs that are responsible for the beneficial health effects experienced by consumers. Regulating active ingredients helps to increase the quality and safety of drugs for consumers and Isodiol believes it is the first company in the industry to receive this approval for a CBD related product. To manufacture, import or distribute an active substance, organizations must comply with good manufacturing and distribution practice, where products must be of consistent high quality, appropriate to their intended use, and meet the requirements of the marketing authorisation (MA) or product specification.
Upon successful initial import and product testing, Zenabis and Isodiol intend to execute a Definitive Supply Agreement, which expects to expand the scope of the collaboration, in addition to the supply of raw isolate.
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 consumer products.
Isodiol is the pioneer of 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 and most recently received approval as having the first CBD designated as an Active Pharmaceutical Ingredient as was announced April 26, 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.
ON BEHALF OF THE BOARD
Marcos Agramont, CEO & Director
About Zenabis Ltd.
Zenabis is a privately-held, cannabis company with one of the largest, federally licensed indoor medical cultivation footprints in Canada. Zenabis currently operates two licensed production facilities with more than 400,000 square feet of fully certified growing space in British Columbia and New Brunswick. Zenabis’s operations are strategically positioned on Canada’s coasts facilitating national distribution and access to international markets. Zenabis is currently working towards globally recognized GMP certifications.
Zenabis has one of the most experienced management teams in the industry, with an extensive background in retail consumer packaged goods, global pharmaceutical sales, and commercialized cultivation. Our growing team has more than two decades of experience in organic cultivation and distribution of herbs and nutraceutical products throughout the Americas, North Africa, and the Middle East. Our sales team has more than two decades in product development, commercialization, and retail and pharmaceutical sales including international distribution.
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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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