May 23, 2017 – Vancouver, Canada – Laguna Blends Inc. (CSE: ISOL) (OTC: LAGBF) (FSE: LB6A.F) (the “Company” or “Laguna”) is pleased to announce the closing of the first tranche of its private placement announced on May 17, 2017 for proceeds of $2,245,116.
The Company has issued 18,709,300 Units at $0.12 per Unit. Each Unit consists of one common share and one share purchase warrant, exercisable to acquire an additional share at $0.25 per share until May 19, 2019. The shares, and any shares issued on exercise of the warrants, are subject to a hold period expiring September 19, 2017.
Proceeds from the private placement will be used to fund the recent transaction with ISO International, LLC (see news release dated May 18, 2017) and for general working capital purposes.
The Company is also pleased to announce that a second tranche of the private placement is currently oversubscribed and is expected to close shortly.
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
“Marcos Agramont” CEO & Director
Forward-Looking Information: This news release contains “forward-looking information” within the meaning of applicable securities laws relating to statements regarding the Company’s business, products and future the Company’s business, its product offerings and plans for sales and marketing. Although the Company believes that the expectations reflected in the forward looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Such forward looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Company’s products and plan will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation, and does not intend, to update any forward looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward looking information are reasonable, there can be no assurance that such expectations will prove to be correct and makes no reference to profitability based on sales reported. The statements in this news release are made as of the date of this release.
The CSE has not reviewed, approved or disapproved the content of this press release.