Isodiol International Inc. (CSE: ISOL) (OTC: ISOLF) announced this week that the company has entered into a binding agreement to acquire 51% of Farmtiva LLC., which is a cultivator of industrial hemp California. Farmtiva will be providing expertise in industrial hemp farming, as well as, distribution support to other farmers associated with Isodiol International.
Farmtiva and non- profit group, Imperial Valley Conservation Research Center are planning the first California hemp crop within the next three weeks. This project will be a first in California for hemp legally grown under the Agricultural Act of 2014 § 7606 in California. As an “established agricultural research institution,” under Food and Agricultural Code Section
81000, the project is exempt from registration
and may currently grow industrial hemp in California.
Under the agreement, Isodiol will issue Farmtiva $1,050,000 in stock based on the closing price April 30th, 2018, subject to 36-month escrow guidelines. Isodiol International is a global producer and distributor of CBD based products and raw materials. The company hopes to be able to become the first producer and extractor of CBD oil in California.
Hemp Pioneer and Farmtiva CEO, Chris Boucher said, “This partnership enables us to operate an industrial hemp research and grow operation on the grounds of the former U.S. Department of Agriculture research facility, creating new jobs and investments in the community.” The facility consists of 160 acres, with 140 acres divided into small research
plots that are leased to clients including Farmtiva. In
addition to the research plots, the center houses five
greenhouses and a soil testing laboratory.