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Isodiol International Inc. Completes Acquisition of Farmtiva Inc. for 51% Ownership and Completes First Planting of Farm Bill Compliant Hemp in California
Isodiol International Inc. Completes Acquisition of Farmtiva Inc. for 51% Ownership and Completes First Planting of Farm Bill Compliant Hemp in California.
About this update from Isodiol International Inc
[{"type":"text","content":"\nIsodiol believes the partnership between the Imperial Valley Conservation Research Center and Farmtiva will harvest the first legally grown hemp in California in 24 years with authorization pursuant to the Agricultural Act of 2014 § 7606 (“2014 Farm Bill”).\n VANCOUVER, British Columbia, June 04, 2018 (GLOBE NEWSWIRE) -- 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 health and wellness products and now supporting the pharmaceutical industry at large with its recently approved CBD as an Active Pharmaceutical Ingredient, announces that it has closed its acquisition of a 51% equity stake in Farmtiva Inc. (“Farmtiva”), a cultivator of hemp that also provides hemp farming and distribution support for farmers and other industry participants. Farmtiva has a partnership agreement with the not-for-profit group, Imperial Valley Conservation Research Center (“IVCRC”), and together they completed the first commercial planting of an approximately sixty (60) acre hemp crop as of June 1, 2018. Both California and Federal rules define the manner in which hemp may be grown. However, California has yet to establish a mechanism by which a farmer may grow industrial hemp pursuant to local registrations that have not yet been established. Therefore, Farmtiva and Isodiol, together with the IVCRC, believe they are the first group to legally cultivate hemp in the State of California for more than only fiber and oilseeds. This project is the first of its type in California for hemp legally grown as an \"established agricultural research institution,\" under Food and Agricultural Code (FAC) Section 81000, the project is exempt from registration and is authorized to grow industrial hemp in Imperial County, California and the Agricultural Act of 2014 § 7606 (“2014 Farm Bill”).  This partnership enables Farmtiva 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...