A CBD manufacturer with offices in Canada and California is moving further into the Canadian cannabis market, acquiring a 25% stake in a company in the final stages of licensing to make hemp and marijuana pharmaceutical products.
Isodiol International said it’s acquiring 25% of Canadian National Pharma Group, a pharmaceutical manufacturing company. Isodiol also has the option to acquire a controlling stake in the company.
The deal is subject to the Canadian National Pharma Group, called CN Pharma, receiving the marijuana license, after which Isodiol will pay $500,000 Canadian dollars ($391,000) cash and CA$1,000,000 ($781,000) in equity.
The deal would give Isodiol its first stake in a Canadian manufacturer.
Isodiol has headquarters in Vancouver, British Columbia, and in San Marcos, California.
Isodiol doesn’t currently grow cannabis in Canada, though it sells CBD products there.
CN Pharma has built a 9,750-square-foot grow facility in Abbotsford, British Columbia.
The company plans to grow and process both hemp and marijuana there in order to make cannabis and hemp extracts or isolate.