Isodiol International Inc. over subscribes private placement and closes second tranche for total proceeds of $4,142,070 CDN
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 is pleased to announce the closing of the second tranche of its non-brokered private placement (the “Private Placement”). The second tranche consisted of the issuance of 15,807,947 units at a price of $0.12 per unit for gross proceeds of $1,896,954 CDN.
The Company over subscribed the private placement for a total of $4,142,070 CDN. Each Unit consists of one common share in the capital of the Company (a “Share”) and one common share purchase warrant (a “Warrant”) exercisable at $0.25 for a period of two years. All securities issued are subject to a hold period expiring four months and one day from the date of issuance. The Company will use the proceeds of the Private Placement primarily for working capital and general corporate purposes, which may include expansion of growth, research and development.
“We are very excited to complete this financing, with very strong interest from institutional, accredited, existing and new investors,” said Marcos Agramont, Chief Executive Officer of Isodiol Inc. “With this financing now closed, we move forward with a healthy balance sheet and the ability to execute our vision with a strong financial support “ said Agramont.
About Isodiol International Inc.
Isodiol International, Inc. is the market leader in pharmaceutical grade cannabis compounds and the industry leader in manufacturing and development of consumer products. Isodiol’s nutraceutical division is the pioneer of many firsts for Hemp-derived cannabidiol (CBD), including 99% pure crystalline isolate, micro-encapsulation, and nano technology 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.
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