MD Rocky View, AB, May 24, 2018 /CNW/ - Sundial Growers Inc. ("Sundial") (the "Company") has signed a letter of intent for the supply of 99.5% CBD isolate from Isodiol International Inc. (CSE: ISOL) (OTC: ISOLF) (FSE: LB6A.F) ("Isodiol"). The supply agreement gives Sundial access to quality pharmaceutical and nutraceutical grade CBD isolate.
"We continue to see a strong demand in Canada for CBD products and we are pleased to add another key supply agreement with a leading pharmaceutical grade consumer product manufacturer" said Sundial CEO, Torsten Kuenzlen. "We look forward to formulating additional products with both pharmaceutical and nutraceutical grade CBD isolate provided by Isodiol."
Isodiol is a global innovator that specializes in the development of pharmaceutical and wellness products, which recently announced that its wholly owned subsidiary BSPG Laboratories Ltd. has received government approval for the manufacturing of the active substance cannabidiol (CBD) in the United Kingdom.
"Isodiol continues to position itself as a go-to partner in the global supply for the highest quality, pharmaceutical grade CBD isolate," said Isodiol CEO, Marcos Agramont. "We are pleased to begin this new relationship with Sundial and to assist them in producing products their customers can trust."
Under the terms of the agreement, CBD will be imported into Canada through a Health Canada approved Licensed Dealer. All imported products will be tested by Sundial in accordance with Canadian standards. Sundial and Isodiol intend to execute a Definitive Supply Agreement which will be subject to required regulatory approvals, including those from applicable exchanges and government authorities in the United Kingdom and Canada and receipt of all related permits.
About Sundial Growers Inc. Sundial Growers Inc. ("Sundial") is a privately held, Alberta-based Health Canada ACMPR-approved licensed producer of medical cannabis. Sundial combines tried and true heartland farming practices with innovative horticultural techniques to grow a select range of cannabis strains. Our focus is on producing consistent cannabis that our customers can trust.
Sundial currently operates a 31,000 square foot production facility in Rocky View, Alberta, and has two separate production facilities in various stages of completion and licensing. By 2020, we expect to be one of the leading cannabis companies in the country with a projected production of over 100 million grams of dry cannabis and the ability to process over 32 million grams of cannabis extracts.
About Isodiol International Inc. Isodiol International Inc. is the market leader in pharmaceutical grade phytochemical compounds and the industry leader in the manufacturing and development of consumer products.
Isodiol is the pioneer of many firsts for the cannabis industry including commercialization of 99%+ pure, pharmaceutical grade cannabinoids, micro-encapsulations, and nanotechnology for the highest quality topical skin care products and most recently received approval as having the first CBD designated as an Active Pharmaceutical Ingredient as was announced on April 26, 2018.
Isodiol's growth strategy includes the development of the over-the-counter and pharmaceutical drugs, expanding its phytoceutical portfolio and will aggressively continue international expansion into Latin America, Asia and Europe.