Isodiol International Inc said it is finalizing a private placement deal of up to $30 million. It will be led by existing backer Serruya Private Equity, which invests on behalf of Canada’s Serruya family, and another institutional investor. Based in Vancouver, Isodiol is a developer and maker of raw ingredients and consumer products derived from cannabis. The funds raised will support the company’s global growth and strategic initiatives. Isodiol, which this week announced an agreement to acquire Biosynthesis Pharma Group, a producer of industrial hemp, raised a $25 million financing from Alumnia Partners in August.
Isodiol International Inc. Announces Strategic $30,000,000 CAD Financing
VANCOUVER, British Columbia, Dec. 19, 2017 (GLOBE NEWSWIRE) — Isodiol International Inc. (CSE:ISOL) (OTC:ISOLF) (FSE:LB6A.F) (the “Company” or “Isodiol”), a global Bioactive Phytoceutical innovator specializing in the development of pharmaceutical and wellness products, is pleased to announce it is in the process of closing a non-brokered private placement (the “Offering”) of up to $30,000,000 CAD and 24,000,000 units (“Units”) at a price of $1.25 per Unit led by Serruya Private Equity and another institutional investor. The capital will be utilized to continue international expansion and to fund strategic initiatives as it expands its global reach.
Aaron Nathaniel Serruya of Serruya Equity stated, “We are pleased to participate in yet another round of funding for Isodiol. Isodiol continues to impress us with innovation and global reach. We expect great things from the Company, including their recent successful launch of a non-cannabis based CBD derived from two specific strains of hops and their pending acquisition of Biosynthesis Pharma Group.”
“We have enjoyed a tremendous response to our phytoceutical products that we have launched in international markets, including our flagship IsoDerm cream, which has been largely adapted in Latin America and embraced by their healthcare providers,” stated Marcos Agramont, CEO of Isodiol. “In addition, we are proud to have gained the trust and support of companies such as Serruya Private Equity as we continue to expand our reach and deliver our pharmaceutical and plant based wellness products around the globe.”
With respect to the Offering, each Unit will comprise one common share of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Common Share at a price of $2.00 for a period of twenty-four (24) months from the closing of the Offering.
The securities issued in connection with the Offering will be subject to a hold period of four months plus a day from the date of issuance pursuant to applicable securities laws.
The Offering is subject to the approval of the Canadian Securities Exchange and will be closed on or before December 22, 2017.
For more information on Isodiol, please visit www.isodiol.com
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 phytoceutical consumer products.
Isodiol is the pioneer of many firsts for the cannabis industry including commercialization of 99%+ pure, bioactive pharmaceutical grade cannabinoids, micro-encapsulations, 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, expanding its phytoceutical portfolio and will aggressively continue international expansion into Latin America, Asia and Europe.
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ON BEHALF OF THE BOARD
Marcos Agramont, CEO & Director
North 6th Agency
Photo courtesy of Reuters/Anthony Bolante