Isodiol International Inc. (CSE:ISOL) (OTC: LAGBF) (FSE: LB6A.F) (the “Company” or “Isodiol”) a global cannabis innovator, specializing in the development of pharmaceutical and consumer products announces it has signed a convertible debenture financing for $25,000,000 CDN with Alumina Partners.
Marcos Agramont, CEO of Isodiol stated, “Our focus remains to grow revenues by developing the Isodiol brand domestically and in international markets. This funding support allows us to further enhance our global expansion and move forward on strategic acquisitions. Innovation and development of IP is what separates us from our competitors and we will continue to make this a priority.”
“We’re pleased to help support Isodiol’s plans to realize one of the industry’s longstanding aspirations of truly normalizing and bringing regulated cannabis into the mainstream,” added Adi Nahmani, Managing Member of Alumina Partners. “As demonstrated by their growth, Isodiol’s talented team is working diligently on many fronts to make tomorrow’s idealistic dream a commercial reality today.”
Pursuant to the terms of the offering, the debenture has no minimum draw down requirement and is a 24 month term at an annual interest rate of 8% with no upfront fees or associated costs. Alumina Partners will commit up to $25,000,0000 CDN with conversion terms consisting of one common share (the “Shares”) and one half of one common share purchase warrant (the “Warrants”), at discounts ranging from 15% to 25% of the market price of the shares. The exercise price of the Warrants will be at a 50% premium over the market price of the Shares.
About Isodiol International Inc.
Isodiol International, Inc. is the market leader in pharmaceutical and nutraceutical grade cannabis compounds and the industry leader in the manufacturing and development of cannabis consumer products.
Isodiol’s nutraceutical division is the pioneer of many firsts for Hemp-derived products, including 99% pure crystalline isolate, micro-encapsulation, 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, seeking joint ventures and acquisitions to expand its portfolio of brands and subsidiaries and will aggressively continue international expansion into Latin America, Asia and Europe.
ON BEHALF OF THE BOARD
“Marcos Agramont” CEO & Director
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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.
The CSE has not reviewed, approved or disapproved the content of this press release.
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