News - Announces U.S. Multi-State ExpansionNews Revenue ; not now ; but ; for the future
https://stockhouse.com/news/press-releases/2019/04/29/chemesis-international-inc-announces-u-s-multi-state-expansion VANCOUVER, British Columbia, April 29, 2019 (GLOBE NEWSWIRE) -- Chemesis International Inc. (CSE: CSI) (OTC: CADMF) (FRA: CWAA) (the “Company” or “Chemesis”), announces it has commenced the process to expand its operations into the Central United States. The Company will concentrate on establishing operations in Michigan, Wisconsin, Missouri, and Illinois. The Company is in the application stage in each state and is also in the process of completing due diligence on assets that include cultivation, extraction, and distribution.
Currently, each state is in different stages of developing its medical and recreational cannabis markets. The state of Michigan has passed both recreational and medical cannabis laws, and state regulators are forming recreational cannabis laws with anticipated sales to begin early 2020. In Michigan, Chemesis has applied for a Hemp Co-Processing License, Hemp Cultivation License, Medical Cannabis Processing License, and will apply for the Adult Use Cannabis Processing License in Calendar Q4, 2019.
The state of Illinois is developing a medical cannabis program, which allows patients that qualify for certain medical conditions to obtain cannabis flower and derivatives. The Company will apply for licenses when the state begins accepting applications and is currently evaluating assets and other opportunities in the state.
In addition, Chemesis will look to build a first mover advantage in Wisconsin, where the state is in the early stages of forming a basis for legalization. Lastly, the state of Missouri is in the process of shaping a framework of regulations for a medical cannabis program, and the Company is in the process of applying for the Medical Processing and Cultivation License.
“Chemesis sees significant opportunities within these states, and it allows the Company to begin building a presence in the Central and Eastern United States,” said Edgar Montero, CEO of Chemesis. “The management team has identified opportunities that we believe will provide the Company with significant exposure in these markets. Chemesis is continuing its efforts to establish itself as a major multi-state operator with facilities and licenses across the United States.”