Isodiol International Inc. Completes Acquisition of KURE™ Corp
May 02 2018 - 8:57AM
Kure has Established High End Stores Throughout
the United StatesKure annualized unaudited fiscal 2018 revenues of
$10.7m CDN
Isodiol International Inc. (
CSE:
ISOL)
(
OTC:
ISOLF)
(
FSE: LB6A.F)
(the “Company” or “Isodiol”), a global CBD innovator
specializing in the development of pharmaceutical and wellness
products, is pleased to announce that the Company has completed the
merger acquisition of 100% of KURE™ Corp. a leading specialty vape
retailer headquartered in Charlotte, North Carolina, with retail
locations throughout the United States.
KURE specializes in the retailing of vaporizers
and e-cigarettes, e-juices, and related accessories (kurevapes.com,
kuresociety.com). The KURE Vaporium & Lounge™ is a modern and
sophisticated retail environment and lounge catering to the vaping
community. By elevating the environment and customer experience,
KURE has paved a completely new path to the rapidly growing vaping
and e-cigarette industry and operates e-juice bars and lounges with
plans for rapid domestic and international expansion. Both Isodiol
International Inc. and KURE are clients of Level
Brands, Inc. (NYSE American: LEVB), an
innovative marketing and licensing company that provides bold,
unconventional, and socially responsible branding for leading
businesses.
KURE CEO Craig Brewer said, “This is a great day
for all the shareholders of KURE and Isodiol. The KURE brand has
been carefully built thanks to our incredibly loyal customer
following. The KURE philosophy is to serve our customers the best
selection of vape juices and hardware by the most knowledgeable
customer service professionals, our own Kurators™. With over
200,000 customer transactions per year and growing, KURE’s
knowledge base in the vape industry is exceptional. Our customers
have been requesting CBD products for some time. We have been very
diligent in making sure our products are safe and meet all
applicable standards. In joining the Isodiol family, we will now be
able to provide our devout customers the very best CBD products on
the market.”
Marcos Agramont, CEO of Isodiol International
said, “KURE adds a vertical dimension to our business plan that no
other CBD company can claim. We now take CBD from the plant and
deliver it to the end customer through our own retail platform. Our
new brand of kathy ireland® Health & Wellness products will
debut in all KURE stores shortly. We share KURE’s philosophy of
‘customer-first’ and we know our customers are very excited about
the new choices in the KURE stores. Craig and his management team
will continue to consolidate the retail vape industry throughout
North America under the Kure platform and we expect our store count
to increase over the next 18-24 months.”
Kathy Ireland®, Chairman Emeritus and Chief
Brand Strategist of Level Brands says, “This merger is a tremendous
opportunity for everyone involved. The Isodiol team is unlike
anyone else in their category. Craig Brewer and the management team
of KURE have implemented best in class branding strategies. The
commitment of KURE™ and Isodiol to our I’M1 brand, Chef Andre
Carthen and kathy ireland® Health & Wellness will serve our
stakeholders, shareholders and customers in a powerful way. On
behalf of Level Brands, it is exciting to say ‘something wonderful
is about to happen’.”
Martin Sumichrast, Chairman & CEO of Level
Brands, Inc. said, “This merger was a triumph for all parties and
shows Level Brands’ commitment to our clients. Isodiol and KURE are
long-term clients of Level Brands and helping bring them together
in such a powerful way is an extraordinary achievement.”
KURE shareholders will receive 23,809,523
Isodiol shares in exchange for this KURE shares based on the
closing of April 30th, 2018. Share based milestone payments are
forthcoming if KURE achieves certain milestones for the fiscal
years of 2018 and 2019. Isodiol has agreed to fund acquisition and
development for the expansion of the KURE retail network. All
Isodiol share payments are subject to a thirty-six month escrow
release. All KURE shareholders of record as of April 27, 2018 will
be mailed by May 7, 2018, a Letter of Transmittal detailing the
terms and conditions of the transaction.
About Isodiol International Inc.
Isodiol International Inc. is
the market leader in pharmaceutical grade phytochemical compounds
and the industry leader in the manufacturing and development of CBD
consumer products. Isodiol is the pioneer of many firsts for the
cannabis industry including commercialization of 99%+ pure,
pharmaceutical grade cannabinoids, micro-encapsulations, and
nanotechnology for the highest quality consumable and topical skin
care products and most recently received approval as having the
first CBD designated as an Active Pharmaceutical Ingredient as was
announced April 26, 2018. Isodiol’s growth strategy includes the
development of over-the-counter and pharmaceutical drugs, expanding
its phytoceutical portfolio and will aggressively continue
international expansion into Latin America, Asia and Europe.
About KURE™ Corp
KURE Corp. is a private company based
in Charlotte, North Carolina that specializes in the
distribution of vaporizing pens, e-Juices, and related accessories
through its 12 specialty retail stores and online distribution
sites. KURE’s primary products are its distinct line of custom
blended high-end flavored e-Juices, premium KURE brand vaporizers,
as well as popular third party brands of advanced hardware and
select eLiquids. All KURE products are available online and
throughout its many store locations across the United States.
KURE Vaporium™, KURE Society™, Kuriousity™, Kurators™ are all
respective trademarks of KURE Corp. KURE's executives and
principals are seasoned business entrepreneurs with decades
individual expertise in taking start-ups from initial incubation to
profitability. KURE's support staff has extensive product
distribution and related industry experience. Its e-Juices can be
purchased pre-bottled or freshly mixed by its staff of “Kurators”,
well-trained and experienced mixologists who can “blend” over
500,000 unique flavors from the KURE Juice On Tap™ bar. These KURE
e-Juices are skillfully blended and served while customers shop,
lounge and enjoy a selection of coffees, beverages, and snacks or
simply vape and mingle with other like-minded enthusiasts. Visit
kurevapes.com or kuresociety.com.
Join Us On Facebook:
https://www.facebook.com/isodiol/Twitter:
@isodiol
ON BEHALF OF THE BOARDMarcos Agramont, CEO
& Director
INVESTOR
RELATIONS:Ir@isodiol.comwww.isodiol.com604-409-4409
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.