Isodiol International Inc. (CSE: ISOL) (OTC: LAGBF) (FSE: LB6A.F) has closed it’s previously announced private placement, issuing 15,807,947 units at $0.12 per unit for gross precede of $1,896,954.
The proceeds of the private placement will be used for working capital and R&D purposes.
VANCOUVER, June 16, 2017 /CNW/ – Isodiol International Inc. (CSE: ISOL) (OTC: LAGBF) (Frankfurt: LB6A.F) (the “Company” or “Isodiol International”) a global cannabis innovator specializing in the development of pharmaceutical and consumer products is pleased to announce the closing of the second tranche of its non-brokered private placement (the “Private Placement”). The second tranche consisted of the issuance of 15,807,947 units at a price of $0.12 per unit for gross proceeds of $1,896,954 CDN. The Company over subscribed the private placement for a total of $4,142,070 CDN. Each Unit consists of one common share in the capital of the Company (a “Share”) and one common share purchase warrant (a “Warrant”) exercisable at $0.25 for a period of two years. All securities issued are subject to a hold period expiring four months and one day from the date of issuance.
The Company will use the proceeds of the Private Placement primarily for working capital and general corporate purposes, which may include expansion of growth, research and development.
“We are very excited to complete this financing, with very strong interest from institutional, accredited, existing and new investors,” said Marcos Agramont, Chief Executive Officer of Isodiol Inc. “With this financing now closed, we move forward with a healthy balance sheet and the ability to execute our vision with a strong financial support ” said Agramont.
About Isodiol International Inc.
Isodiol International, Inc. is the market leader in pharmaceutical grade cannabis compounds and the industry leader in manufacturing and development of consumer products. Isodiol’s nutraceutical division is the pioneer of many firsts for Hemp-derived cannabidiol (CBD), including 99% pure crystalline isolate, micro-encapsulation, and nano technology for the highest quality consumable and topical skin care products.
Isodiol’s growth strategy includes the development of over-the-counter and pharmaceutical drugs, seeking joint ventures and acquisitions to expand its portfolio of brands and subsidiaries and will aggressively continue International expansion into Latin America, Asia and Europe.
ON BEHALF OF THE BOARD
CEO & Director