Isodiol Announces Conversion of Debentures
November 5, 2020 - TheNewswire - Vancouver, BC - Isodiol International Inc. (CSE:ISOL) (CNSX:ISOL.CN) (OTC:ISOLF) (FSE:LB6B.F) (the “Company” or “Isodiol”) announces the issuance of 10,000,000 common shares in the capital of the Company (the “Common Shares”) in payment of an aggregate of $500,000 in principal outstanding, in accordance with the terms and conditions of its Amended and Restated 4.00% Senior Unsecured Convertible Debentures (the “Debentures”).
The Common Shares in payment of the principal of the Debentures have been issued pursuant to exemptions from the prospectus requirements of applicable securities laws.
Isodiol believes that the conversion of the Debentures will provide balance sheet flexibility and will reduce annual debt servicing costs for the Company.
As of the date hereof, Debentures in the principal amount of $1,740,000 remain outstanding and due to mature on November 29, 2021. For additional details of the Debentures, please refer to the Company’s news releases dated November 30, 2018, and April 1, 2020.
ON BEHALF OF THE BOARD OF DIRECTORS
Andrew S. Alvis Marcos Agramont
President and Director, CEO and Director
Isodiol International, Inc. Isodiol International, Inc.
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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.
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 Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.