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) (ISOLF) (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.