TORONTO, Jan. 11, 2018 /CNW/ - Nuuvera Inc. ("Nuuvera") (TSXV:NUU) is pleased to announce that it has signed a Letter of Intent ("LOI") with Isodiol International Inc. ("Isodiol") (CSE:ISOL) (OTC:ISOLF) (FSE:LB6A.F), to import 99%+ pure, bioactive pharma-grade cannabidiol ('CBD') isolate into Canada from Isodiol's GMP-certified production facility in the United Kingdom.
The product, certified as a pharmaceutical-grade, will be imported into Canada through Nuuvera's subsidiary, ARA - Avanti Rx Analytics Inc. ("Avanti"), a Health Canada GMP-certified laboratory holding a dealer license under the Narcotic Control Regulations and Office of Controlled Substances.
"As one of the first imports into Canada of any cannabis-related product, this signifies a tremendously exciting breakthrough," explained Lorne Abony, Chief Executive Officer of Nuuvera. "This agreement marks a meaningful step in Nuuvera's strategy to utilize its extensive international operational and production base to develop the highest quality products in the world, and serve emerging markets in the cannabis industry," said Abony.
Nuuvera intends to import up to 30,000 kg of CBD isolate per month for the purposes of R&D, product formulation and production of pharma-grade derivative products. Through its licensed subsidiaries, Nuuvera aims to sell these products in Canada and export to licensed international medical cannabis jurisdictions.
Marcos Agramont, CEO of ISO International Inc., stated, "Since establishing Isodiol we have focused on developing and marketing the highest quality, raw material for use in a range of proprietary, pharma grade nutritional and health related remedies. I am pleased that our new partner, Nuuvera, which brings to the table extensive knowledge and expertise in the fields of quality control, R&D, and product development shares Isodiol's vision for an industry built upon quality, consistency, safety, and ultimately, efficacy."
Upon successful initial import and product testing, Nuuvera and Isodiol intend to execute a Definitive Supply Agreement, the terms of which are already substantively agreed upon. The activities contemplated by the LOI remain subject to applicable regulatory approvals, including those from Health Canada, and the TSX Venture Exchange.
For more information on Nuuvera, please visit: www.nuuvera.com
Nuuvera is a global cannabis company founded on Canadian principles, and built with the whole world in mind. Nuuvera is currently working with partners in Germany, Israel and Italy, and is exploring opportunities in several other countries, to develop commercial production and global distribution of medical grade cannabis in legalized markets. Through its subsidiaries, ARA – Avanti Rx Analytics Inc. and Avalon Pharmaceutical Inc., Nuuvera holds a Dealer License (GMP) under the Narcotic Control Regulations and Office of Controlled Substances. Nuuvera is currently in the final stages of the Health Canada review process to become a Licensed Producer of medical marijuana under the ACMPR, and has recently received its "letter to build" approval.
About Isodiol International Inc.
Isodial International Inc. is the market leader in pharmaceutical grade phytochemical compounds and the industry leader in the manufacturing and development of phytoceutical consumer products.
Isodiol is the pioneer of many firsts for the cannabis industry including commercialization of 99%+ pure, bioactive pharmaceutical grade cannabinoids, micro-encapsulations, and nanotechnology for the highest quality consumable and topical skin care products.
Isodiol's growth strategy includes the development of over-the-counter and pharmaceutical drugs, expanding its phytoceutical portfolio and will aggressively continue international expansion into Latin America, Asia and Europe.
Notice regarding forward-looking statements:
This release includes forward-looking statements regarding Nuuvera and its business. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of Nuuvera. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting Nuuvera, including risks regarding the cannabis industry, failure to obtain regulatory approvals, economic factors, the equity markets generally and risks associated with growth and competition. Although Nuuvera has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made Nuuvera undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
The TSX Venture Exchange has in no way passed upon the merits of the transaction and has neither approved nor disapproved the content of this press release.
SOURCE Nuuvera Inc.
Renseignements: For media inquiries only please contact: Justin Burrows, Venture Communications, Justin@venturecommunications.ca, 1-416-276-7699