The COVID-19 virus represents a new challenge for us all, and I want to formally update you on the situation as it pertains to Isodiol. We are taking this global threat very seriously and are closely monitoring developments. To this end, we have implemented numerous precautions and protective measures to safeguard our employees in order for us to continue to provide support to our customers to “Live Healthier, Naturally”.
On a more positive note, we would like to provide an update on significant achievements made over the last quarter.
We recently reached a restructuring agreement with the holders on the outstanding $6,000,000 CAD aggregate principal convertible debentures scheduled to mature November 2020. Key highlights from this debt restructuring:
- Reduced outstanding principal by $1,000,000 to $5,000,000 CAD
- Extended maturity date by one year to November 29th, 2021
- Interest rate reduced from 8% to 4%
- Accrued interest of $240,000 CAD satisfied by issuance of common shares
At the leadership level, we have made several decisions to completely distance the company from several legacy leaders, partners and influencers both internally and externally. While this was a difficult decision on several fronts, it was absolutely necessary in order for Isodiol to continue to rebuild the trust across the community. “Over the past couple of years, Isodiol has experienced a significant learning curve as an initial leader of a new and emerging market that is constantly evolving. As a result, we will continue to build and add members that bring value, who recognize that Isodiol Int’l Inc. has greater potential than others in this industry” Agramont continues with “The ongoing expansion into Latin America and Europe are pivotal as these emerging markets recognize the great brand and product reputation that Isodiol has established.”
While we continue to explore ways to streamline and synergize Isodiol’s global holdings and operations to be more effective and profitable, we have engaged several professional key partners, each of whom brings needed expertise, services, resources and value to the organization. To that end I would like to introduce Mr. Fletcher Robbe. Mr. Robbe, the managing partner of Fletcher Robbe International Attorneys at Law and his firm bring 45 years of experience in a number of industries and verticals with particular emphasis on: mergers and acquisitions, domestic and global securities and exchanges as well as corporate structuring. Mr. Robbe is reviewing all of Isodiol’s current operations, 3rd party relationships and infrastructure, while providing direction on restructuring both our domestic and global footprints. Through these efforts, it is management’s goal to present Isodiol in the msot efficient and attractive manner. “We at Fletcher Robbe International, are very pleased to be working with the Isodiol management team. Together we are focused on creating a plan for moving forward which inculcates the highest probabilities for company success, stated Robbe”
In addition to Mr. Robbe, we have introduced several other key partners to the organization to assist with sales & digital marketing strategies, SOP process design, reporting & analytics along with finance, accounting & audit support. We are confident with each key partners’ expertise, Isodiol will be repositioned well for long term growth and success.
Lastly, as we embark on our new fiscal year, we are excited to announce the upcoming launch of our new website and e-commerce platform. Currently scheduled for Monday, April 6th, this new responsive web design will allow customers to have a consistent user experience across all devices. We are confident the improvements will allow for more efficient backend updates, while simultaneously providing an intuitive shopping experience. Along with the new “look and feel” of the website, we have also updated our motto to “Live Healthier, Naturally”. We feel this motto fully embodies how we support our customer needs; through the products we deliver.
As we move forward, we will continue to keep you updated on all of the positive momentum we are building here at Isodiol.
As always, thank you for being a shareholder; and most importantly, for your continued trust and support as we manage through this time together.
Andrew S. Alvis Marcos Agramont
President, Isodiol International, Inc. CEO and Director, Isodiol International, Inc.
About Isodiol International Inc.
Isodiol International Inc. is focused on the nutritional health benefits that are derived from hemp and is a product development, sales, marketing and distribution company of hemp-based Consumer Packaged Goods (CPG) and solutions. Isodiol has commercialized a 99%+ pure, naturally isolated CBD, including micro-encapsulations, and nano-technology for quality consumable and topical skin care products. Isodiol’s growth strategy includes the development of over-the-counter and pharmaceutical drugs and continued 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, its ability to repay the Debentures, and the future of the Company’s business. 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 not to 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, that the Company may not be able to repay the Debentures in whole or in part, and that the Company may not otherwise 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.