VANCOUVER, June 12, 2017 /PRNewswire/ - Isodiol International Inc. (CSE: ISOL) (OTC: LAGBF) (Frankfurt: LB6A.F) (the "Company" or "Isodiol International") a global cannabis innovator specializing in the development of pharmaceutical and consumer products, today announced that it has completed the transaction of a definitive agreement to acquire the assets of a cannabis-based beverage company including the predominant brands Pot-O-Coffee, Pot-O-Tea, and Pot-O-Coco. This line of cannabis-infused single-serve coffee, tea and cocoa drinks aligns perfectly with the ever-expanding product offerings of the Company and positions it well within the explosive cannabis beverage market.
The Pot-O-Coffee product line consists of two variants for cannabis infusion; one infused with cannabis plant-extracted tetrahydrocannabinol (THC) oil, while the other is infused with non-psychotropic cannabidiol (CBD) derived from agricultural based Hemp Oil.
"This is another very exciting step in our ongoing efforts to add significant value to our portfolio of premium cannabis brands," said Isodiol International CEO, Marcos Agramont. "These on-trend brands extend our international consumer base across a wide-channel of both traditional and non-traditional retail businesses, creating great value for our shareholders into the ever-expanding cannabis market space".
Cass Riese, Pot-O-Coffee's founder and chief executive officer, said, "What started as a simple passion for a premium infused cannabis beverage, has grown into a line of amazing products that are beginning to be recognized across the U.S. and now internationally. This is an incredibly exciting time for all of us involved', said Riese, "The Isodiol International company values our brand beliefs and is committed to continuing to use the highest quality ingredients and superior craft methods that deliver the creativity and flavor our consumers and fans love today."
Under the terms of the agreement, the company will issue a total of 20,937,500 common shares at a deemed price of $0.12 per share and a one-time cash payment of $250,000 due upon the definitive agreement.
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.
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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.
SOURCE Isodiol International Inc.