VANCOUVER, British Columbia, Nov. 30, 2018 (GLOBE NEWSWIRE) — Isodiol International Inc. (CSE: ISOL) (OTCQB: ISOLF) (FSE: LB6B.F) (the “Company” or “Isodiol”) announces its financial and operational results for the second quarter of fiscal 2019, ended September 30, 2018.
Second Quarter Highlights include:
- Total Revenue of $8,030,825 with gross profit of $4,317,612.
- The Company was included as a show segment on the national PBS series “American Health Journal – Innovations in Medicine.”
- Iso-Sport (subsidiary of the Company) entered into an agreement with Altis LLC to create the “Iso-Sport Living Lab.”
- The Company announced the appointment of Marvin Washington to its Board of Directors.
- The Company entered into an agreement with Powerhouse Gym to be the preferred vendor of CBD performance products offered to its gym members.
Subsequent Events:
- Iso-Sport (subsidiary of the Company) reached deals with London Fight Store, and Grapplestore, two UK based mixed martial arts retailers, to sell the CBD Performance Products.
- The Company executed an agreement with Brew Hub, LLC for the exclusive development and manufacturing of its hemp, cannabis, hemp-derived, and cannabis-derived beverages.
- The Company entered into an agreement with Record Street Brewing Co for R&D of hemp-based beers and functional beverages.
- On November 21, 2018 the Company announced the appointment of Leonardo Matesanz to it’s Board of Directors.
“In anticipation of the US Farm bill being finalized,1 and with the possibility of an increase in demand for consumer packaged goods (CPG), the Company scaled back bulk raw ingredient CBD sales in an effort to increase production and inventory of CPG for 2019,” said CEO of Isodiol, Marcos Agramont. “While this has impacted our Q2 revenues, the Company believes this move was necessary for long-term, sustainable growth.”
The unaudited condensed consolidated interim financial Statements and MD&A for the three months ended September 30, 2018 will be filed on SEDAR and available at www.sedar.com.
______________________________
1https://www.reuters.com/article/us-usa-farmbill/farm-bill-deal-very-close-senators-say-idUSKCN1NX2ON
About Isodiol International Inc.
Isodiol International Inc. is focused on the nutritional health benefits that are derived from hemp and is a product development, sales, marketing and distribution company of hemp-based consumer products and solutions.
Isodiol has commercialized a 99%+ pure, naturally isolated CBD, including micro-encapsulations, and nano-technology for quality consumable and topical skin care products. Most recently, the Company received approval for its CBD designated as an Active Pharmaceutical Ingredient for use in Finished Pharmaceutical Products, as was announced on April 26, 2018.
Isodiol’s growth strategy includes the development of over-the-counter and pharmaceutical drugs and continued international expansion into Latin America, Asia, and Europe.
Join Us On Facebook: https://www.facebook.com/IsodiolInternationalInc/
Twitter: @Isodiolintlinc
ON BEHALF OF THE BOARD
Marcos Agramont, CEO & Director
INVESTOR RELATIONS:
Ir@isodiol.com
604-409-4409
MEDIA CONTACT:
Christopher Hussey
media@isodiol.com
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 of 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 not to 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.