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EX-10.67 - LICENSE AGREEMENT - cbdMD, Inc. | levb_ex10-67.htm |
8-K - CURRENT REPORT - cbdMD, Inc. | levb_8k.htm |
Exhibit 99.1
kathy ireland Heath & Wellness, a Level Brands Business Unit,
Enters into License with Isodiol Bringing the Parties Together in a
Multimillion-Dollar Cannabidiol (CBD) Products Deal
Charlotte, NC – January 8, 2018 -- Level Brands, Inc.
(NYSE American: LEVB),
an innovative marketing and licensing company that provides bold,
unconventional and socially responsible branding for leading
businesses, announced today that it has entered into a licensing
agreement with Vancouver-based Isodiol International Inc.,
(CSE: ISOL)
(OTCQB: ISOLF) (FSE: LB6A.F), a global Bioactive Phytoceutical
innovator specializing in the development of pharmaceutical and
wellness products. Under the agreement, Isodiol will work with
Level Brands to develop consumer products for kathy ireland®
Health & Wellness, a licensor to Level Brands, and for Level
Brands subsidiary I’M1, the company’s lifestyle brand
for men. Encore Endeavor One (EE1), Level Brands’ corporate
brand management and producer of experiential entertainment events,
will provide strategic advisory services for the new wellness
product lines.
Level
Brands will receive an initial US$2 million payment in the form of
Isodiol shares and initial cash payments of US$62,500 each due at
execution of the licensing agreement and on June 30, 2018 . During
the term of the agreement Level will also receive US$750,000 per
quarter in the form of Isodiol shares and a 3% royalty on all gross
sales of branded products. The contract term is for an initial five
years. Marketing materials were designed and filmed in December
2017 and both parties intend to finalize all points of the
negotiations no later than January 31, 2018.
"Isodiol
is an innovative, progressive and pioneering company,” says
Kathy Ireland, Level Brands’ Chairman Emeritus and Chief
Brand Strategist. License Global magazine names Ireland one of the
19 most influential
women in the licensing industry, Ireland is the subject of multiple
Forbes magazine covers, domestic and international, and Furniture
Today magazine names Ireland the 18th most influential
leader in the furniture industry. “Their success in CBD
products derived from hemp are 99%+ pure, bioactive and
pharmaceutical grade. The products include body balm, tincture,
skincare, nano-mist and functional beverages. One of the many
responsibilities in this new venture is, for me personally, to
serve as Educator in Chief about cannabidiol, and how it is used in
Isodiol. This company is leading the strategy of appropriate uses
of hemp derivatives, and Isodiol products are free of THC.
It’s ironic that people find controversy in the powerfully
useful hemp plant. Without THC, hemp has many natural and important
uses, which are beneficial in countless ways. We need people to
please understand, that hemp, without THC, is similar to a grape
without fermentation. What the Isodiol team has done is, bring the
best qualities of hemp-derived CBD to the market without any
psychotropic element, whatsoever. This is the second product for
kathy ireland® Health & Wellness, licensed by Level
Brands, and we welcome the Isodiol team to our family at
Level."
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“Level
Brands is committed to exploring new and cutting edge technologies
and products and bringing them to the American market,” says
Martin A. Sumichrast, Level Brands’ CEO. “Isodiol is a
pioneer and a leader in the commercialization of a 99%+ pure,
Bioactive pharmaceutical grade CBD derived from the hemp plant. We
are excited to work with Isodiol on developing the highest quality
hemp derivatives-based consumable and topical skin care products
for kathy ireland® Health & Wellness and
I’M1.”
“We
look forward to benefitting from Kathy Ireland's proven track
record in product strategy and marketing,” said Marcos
Agramont, President of Isodiol. “Ms. Ireland has an uncanny
sense of her consumers’ tastes and needs, which has led to
their extraordinary loyalty and confidence in her products. Having
brought over 17,000 diverse and popular products to market, she has
captured the hearts and minds of millions of customers who actively
and consistently support her brands. Ms. Ireland will bring
tremendous energy into this burgeoning field, and we are eager to
work with her and the incredible team assembled at Level Brands.
”
kathy
ireland® Health & Wellness, I’M1 and EE1 are led in
marketing and creative by Stephen Roseberry, President and Chief
Marketing Officer of kathy ireland® Worldwide (kiWW®),
together with kiWW®’s Global Creative Director, Jon
Carrasco. I’M1 was co-founded by Kathy Ireland and Tommy
Meharey - Marine, millennial father, global fashion model,
concert producer, Vice President of kathy ireland® Weddings &
Resorts, as well as the youngest Board of Directors member
of kathy
ireland® Worldwide. EE1 was co-founded
by Ireland and Nic Mendoza, heir to a family legacy with
generations of extraordinary musical success. Mr. Mendoza is a
certified sound specialist, with an emphasis on live performance,
having toured with artists as diverse as Janet Jackson and Robin
Thicke, and a producer of albums and musical theater.
The new
Isodiol kathy ireland® Health & Wellness and I’M1
products are expected to debut in mid to late Spring 2018 and be
available online and in select retail stores. Level Brands is
committed to social responsibility, with each partner, client, and
licensee supporting its Millennium Development Goals to improve the
condition of lives around the world. Through this licensing
agreement, Isodiol has made a corporate culture and financial
commitment to support these goals with an emphasis on health and
wellness.
About Level Brands, Inc. (www.LevelBrands.com)
Level
Brands creates bold, unconventional and socially responsible
branding for leading businesses. With a focus on corporate brand
management and consumer products marketing art, beauty, fashion,
health & wellness including the beverage space, entertainment,
and real estate. Licensed brand marketing is at the core of the
Level Brand businesses: Ireland Men One or I'M1, for millennial men
and the women who love them; Encore Endeavor One or EE1, corporate
brand management and producer of experiential entertainment events
and products across multiple platforms; kathy ireland® Health
& Wellness; Beauty & Pin-Ups, Level Brands' hair care and
disruptive women's products brand.
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About Isodiol International Inc. (www.Isodiol.com)
Isodiol
International, Inc. is the market leader in pharmaceutical grade
phytochemical compounds and the industry leader in the
manufacturing and development of phytoceutical consumer
products.
Isodiol
is the pioneer of many firsts for the cannabis industry including
commercialization of 99%+ pure, bioactive pharmaceutical grade
cannabinoids, micro-encapsulations, and nanotechnology for the
highest quality consumable and topical skin care
products.
Isodiol's
growth strategy includes the development of over-the-counter and
pharmaceutical drugs, expanding its phytoceutical portfolio, and
aggressively continuing its international expansion into Latin
America, Asia, and Europe.
Forward-Looking Statements
This press release contains certain forward-looking statements that
are based upon current expectations and involve certain risks and
uncertainties within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Such forward-looking
statements can be identified by the use of words such as
''should,'' ''may,'' ''intends,'' ''anticipates,'' ''believes,''
''estimates,'' ''projects,'' ''forecasts,'' ''expects,'' ''plans,''
and ''proposes.'' These forward-looking statements
are not guarantees of future performance and are subject to risks,
uncertainties, and other factors, some of which are beyond our
control and difficult to predict and could cause actual results to
differ materially from those expressed or forecasted in the
forward-looking statements, including, without limitation,
statements made with respect to expectations of Isodiol
International Inc.'s ability to introduce products under the
terms of the license agreement and the level of any future sales of
those products. You are urged to carefully review and consider any
cautionary statements and other disclosures, including the
statements made under the heading "Risk Factors" in Level Brands,
Inc.’s Annual Report on Form 10-K for the fiscal year ended
September 30, 2017 as filed with the Securities and Exchange
Commission (the "SEC") on December 26, 2017 and our other filings
with the SEC. Level Brands, Inc. does not undertake any duty to
update any forward-looking statements except as may be required by
law.
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