news2018-08-07 11:00 ET - News Release VANCOUVER, British Columbia, Aug. 07, 2018 (GLOBE NEWSWIRE) -- Chemesis International Inc. (CSE: CSI) (the Company or Chemesis), is pleased to announce the Company has closed a draw-down equity financing of up to $25,000,000 CDN, with Alumina Partners, LLC, a New York-based private equity firm that has made substantial investments in the cannabis space. The purpose of the agreement is to allow Chemesis to continue its growth strategy with complete financial flexibility and freedom. The financing is at the sole discretion of Chemesis, allowing for the ability to access funds when necessary. This strategy allows Chemesis to protect shareholder value while growing to meet demands in California and around the globe. We are very enthusiastic to be entering into such a major agreement, allowing us to be an aggressive first mover in California. This agreement will allow Chemesis major financial flexibility in its operations, said CEO, Edgar Montero. Such major investments are rare in the early stages and we are excited to receive such a significant commitment from Alumina Partners, LLC. This serves as meaningful validation of our business plan and growth strategy. As the regulated cannabis marketplace continues to expand and evolve globally, product differentiation has proven invaluable to the boldest ventures in the space, added Adi Nahmani, Managing Member of Alumina Partners, LLC. We are pleased to help support Chemesis as they reinvest to open a new chapter of growth in the largest market in North America. The agreement details the purchase of up to $25,000,000 of units of the Company (the Units), consisting of one common share (the Share) and one common share purchase warrant (the Warrants), at discounts ranging from 15% to 25% of the market price of the Shares, with each Private Placement Offering occurring exclusively at the option of the Company, throughout the 24 month term of the agreement. The exercise price of the Warrants will be at a 50% premium over the market price of the Shares. There are no upfront fees or interest associated with the use of this financing. About Chemesis International Inc.