VANCOUVER, British Columbia, Sept. 11, 2018 (GLOBE NEWSWIRE) -- Isodiol International Inc. (CSE: ISOL) (OTCQB: ISOLF) (FSE: LB6A.F) (the "Company" or "Isodiol"), is proud to announce total first quarter revenue of $9.2 million, representing an approximate 240% increase over the quarter ended June 30, 2017 and an approximate 70% increase over revenues of $5.4 million in the fourth quarter of fiscal 2018.
FIRST QUARTER HIGHLIGHTS INCLUDE:
- Total Revenue of $9.2 Million with gross profit of $4.6 million
- Cash Position of $11.5 million
- Government Approval from United Kingdom's Medicines and Healthcare Products Regulatory Agency (MHRA) for Pure, Natural CBD as an Active Pharmaceutical Ingredient (API)
- Completed Acquisition of KURE Corp and also announced KURE expansion plans
- Binding Agreement to Acquire 51% of Farmtiva, a cultivator of hemp with operations in California
- Binding Agreement to Acquire 51% of Round Mountain Technologies, a cultivator of hemp with operations in Nevada
- Introduced Isoderm Direct Effects Technology VIA PBS Television (https://isodiol.com/direct-effects-technology/)
- Signed LOI with Pure Global Cannabis, for supply of pharmaceutical and nutraceutical CBD isolates
- Partnership between ISO-Sport and ALTIS
- Expansion of Kure Retail Stores in Arizona, with the opening of seven locations in the Greater Phoenix market
- Announced the launch of ISOCare, a secure platform for the cannabis treatment industry
- Announced plans to develop new hemp-based beers and functional beverages
- Appointed new Chief Financial Officer, Eli Dusenbury
- Appointed Marvin Washington to Board of Directors
"The Company is proud to report another significant increase in its revenues," said CEO of Isodiol, Marcos Agramont. "With regulation in the United States seemingly trending towards a favourable position, the Company believes it is well positioned to capitalize on upcoming opportunities with a variety of distribution channels1. As we head towards the end of fiscal quarter two and beyond, the Company will continue to focus on building its three core business strategies: Nutraceutical, Pharmaceutical, and Clinical Supply of CBD Ingredients, Contract Manufacturing of Consumer Products Containing CBD ingredients, and Total Vertical Integration of Key Revenue Streams."
The unaudited condensed consolidated interim financial Statements and MD&A for the three months ended June 30, 2018 will be filed on SEDAR and available at www.sedar.com.
For more information on Isodiol, please visit www.isodiol.com
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.
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ON BEHALF OF THE BOARD
Marcos Agramont, CEO & Director
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 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.
This article was written by cool news network.