Isodiol International Announces Binding Agreement to Acquire 51% of Round Mountain Technologies and Commences Certified Organic Hemp Farming in Nevada
12 June 2018
RMT holds a license from the State of Nevada to cultivate organic hemp in Nye County. The property consists of approximately 155 acres, of which RMT and Isodiol intend to plant 70 acres within the coming weeks, initially. RMT and Isodiol will contribute to Nevada’s local economy by ensuring that all hemp harvested by RMT will be processed within the State of Nevada.
Under the terms of the agreement, Isodiol will commit funding of US$400,000 in cash to RMT for working capital and general obligations and issue US$250,000 in Isodiol stock based on the May 22, 2018 closing price, subject to 36-month lock-up/leak-out guidelines, in exchange for the 51% RMT ownership interest.
“This transaction is another significant milestone in Isodiol’s storied path to success,” said Marcos Agramont, CEO of Isodiol. Mr. Agramont continued, stating, “We are pleased to be working with RMT and increasing our US organic hemp biomass supply for CBD production.”
Isodiol has successfully pursued its strategy of establishing a globally dominant position in the cultivation of jurisdictionally compliant industrial hemp and manufacturing of jurisdictionally compliant CBD consumer products. To date, Isodiol has the ability to legally source, cultivate, and/or manufacture industrial hemp on three continents, North America, Europe, and Asia. Additionally, Isodiol’s UK Subsidiary, BSPG Laboratories Ltd. produces CBD that has been approved as an Active Pharmaceutical Ingredient (API) by the United Kingdom Medicines and Healthcare Products Regulatory Agency (MHRA) for use in Finished Pharmaceutical Products (FPPs).
“We believe we produce the purest, natural CBD in the industry. The API is recognition of that achievement. Isodiol will continue to pursue global recognition and approval of the API grade CBD and expand our distribution of CBD consumer products in new jurisdictions while continuing to expand our manufacturing capabilities throughout the world,” said Agramont.
“Isodiol has come to embrace the positive legal developments in legislation, regulations, and agency interpretations in jurisdictions throughout the world that have paved a legal pathway for Isodiol to legally and commercially produce pure, natural CBD from industrial hemp,” said Agramont. Agramont went further to say, “Isodiol’s previous efforts to seek alternative sources of CBD, such as through novel hop strains, are still of interest to Isodiol, but due to favorable legislative and regulatory outcomes, Isodiol is focusing on cannabinoids produced from hemp. Presently, sources for Cannabinoids other than hemp would take longer and cost substantially more to develop.”
