Decenber 10th, 2017 – A CBD manufacturer with offices in Canada and California is moving further into the Canadian cannabis market, acquiring a 25% stake in a company in the final stages of licensing to make hemp and marijuana pharmaceutical products.
Isodiol International said it’s acquiring 25% of Canadian National Pharma Group, a pharmaceutical manufacturing company which is currently in the final stages of receiving its Licensed Dealer (“LD”) status under the provisions of the Canadian Controlled Drugs and Substances Act, in order to commence production of cannabis and hemp extracts or isolate. Isodiol also has the option to acquire a controlling stake in the company.
The deal is subject to the Canadian National Pharma Group, called CN Pharma, receiving the dealer license, after which Isodiol will pay $500,000 Canadian dollars ($391,000) cash and CA$1,000,000 ($781,000) in equity.
The deal would give Isodiol its first stake in a Canadian manufacturer.
CN Pharma has completed the build of a Health Canada compliant facility according to the highest standards for Health Canada’s final inspection, with more than 9,750 sq.ft of usable space, located in the city of Abbotsford, BC. Within this facility, the company will be able to process and manufacture controlled substances, including cannabis and hemp, with the ability to expand the footprint if necessary.
Licensed Dealers approved by Health Canada have the right to handle all cannabis derivatives, import and export oils and isolates, prepare various formulation and mixtures, participate in research or testing activities, and conduct new product and drug development.
“As a supplier of raw materials and active pharmaceutical ingredients, our company prides itself on its quality and standards, supplier selection process, audits, and inspections,” said Marcus Dahl, President and CEO of CN Pharma. “We strongly believe this partnership will help elevate CN Pharma to new levels through additional capital investments into our infrastructure growth and expansion of facilities, equipment, and services.”
Marcos Agramont, CEO of Isodiol, said, “With this acquisition, we will continue to position Isodiol as a global provider of pharmaceutical grade phytoceuticals, by developing high quality bioactive products within many different verticals such as personal care products, beverages and edibles, topicals, nutraceutical supplements, and capsules. Our roadmap in Canada includes further vertical integration from growth to extraction, as well as the processing and manufacturing of goods.”