Level Brands unit enters into license agreement with Isodiol
Level Brands has entered into a licensing agreement with Vancouver-based Isodiol International. 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 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 $2M payment in the form of Isodiol shares and initial cash payments of $62,500 due at execution of the licensing agreement and on June 30, 2018 . During the term of the agreement Level will also receive $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.