Isodiol International Inc OTCMKTS: ISOLF 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 Packaged Goods (CPG) 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. Isodiol’s growth strategy includes the development of over-the-counter and pharmaceutical drugs and continued international expansion into Latin America, Asia, and Europe through the proliferation of its various brands, including the recently acquired CBD Naturals® portfolio of brands and proprietary technologies.
Isodiol International Inc OTCMKTS: ISOLF On May 16, 2019 announces that it will hold its annual general meeting of the Company’s shareholders (the “Meeting”) at 10:00 a.m. (Central Time) on June 6, 2019, at the Westin Santa Fe Hotel (Ballroom A) in Mexico City, Mexico.
“It is a pleasure to host Isodiol and its directors and shareholders in my home city and demonstrate the Company’s commitment to Mexico and Latin America,” said Leonardo Matesanz, a Director of Isodiol. “Isodiol has been involved in various efforts in recent years to position itself as a market leader in Mexico once appropriate regulations are in place. We are now confident that the Mexican authorities are developing a path to legalization of our products and look forward to bringing them to consumers throughout the country soon.”
Mexico’s Federal Commission for the Protection against Sanitary Risk (COFEPRIS) initially published regulations for CBD products on October 30, 2018, which indicated that products made from hemp were industrial products that could be traded as cosmetics, supplement foods, and herbal products. CBD medicines also were included in the regulations, subject to clinical trials and proper protocols. However, those regulations and the licenses initially awarded by COFEPRIS were revoked on March 27, 2019, leaving the industry’s future in question. Nevertheless, the Mexican Senate stated in March 2019 that “legalization is imminent,” with medical and scientific regulations expected to be issued by October 2019.
Isodiol established operations in Mexico in 2017 with the intent to take advantage of the initial regulations that ultimately were released by COFEPRIS on October 30, 2018. However, based upon concerns about the validity of those regulations and the licenses issued to Isodiol’s competitors, Isodiol strategically safeguarded its opportunities and withheld application for licensure under the initial regulations.
“As with regulatory matters in other jurisdictions around the world, we try to put our best foot forward in anticipation of what we hope laws will be,” said Marcos Agramont, CEO of Isodiol. “Sometimes we get it right, and sometimes we don’t. In Mexico, we believed we were on the right track only to see some of our competitors obtain licensure in ways that did not make sense for us to pursue. Our suspicions proved out, and we look forward to being on a level playing field when the new regulatory regime is in place. Mexico and other Latin American markets are very important to Isodiol, and our management team is uniquely qualified to pursue these opportunities.”
Isodiol intends to apply for CPG and medical product licenses in Mexico following issuance of the new regulations and acceptance of license applications by COFEPRIS in Fall 2019.
In an effort to reduce cash obligations and liabilities in the amount of CAN$680,587, the Company issued 523,851 shares at a weighted average price of CAN$1.30 per share on May 16, 2019.