VANCOUVER, British Columbia, Sept. 19, 2019 (GLOBE NEWSWIRE) -- Chemesis International Inc. (CSE: CSI) (OTC: CADMF) (FRA: CWAA) (the “Company” or “Chemesis”), provides 2019 calendar operational and corporate highlights. The Company has made significant progress in the markets it operates. Along with internal growth, Chemesis has made significant acquisitions and has become a multi-state operator with vertically integrated operations.
The Company’s calendar year highlights are as follows:
- Chemesis International Inc. Enters into an Agreement to Purchase Three Dispensary Operations in Puerto Rico
- With this acquisition, the Company now operates 11 dispensaries with an additional 7 dispensaries in various stages of development.
- The Company Receives Puerto Rico Hemp Cultivation & Production License
- The Company will leverage Natural Ventures facilities to process and manufacture finished goods, which can be transported across the United States.
- Chemesis Completes Acquisition of Controlling Interest in GSRX Industries Inc., a Leader in Retail Cannabis Dispensaries, Distribution, & Brand Development
- Through this acquisition Chemesis now owns and operates retail dispensaries. This allows the Company to further increase profitability through direct shelf space access of its products. Furthermore, the Company is able to market its products to dispensaries across Puerto Rico, California, Texas, and Tennessee.
- Chemesis Signs International Supply Agreement for CBD Products
- This agreement brings exposure to international markets, and ensures the Company can build relationships for distribution in the UK and other European markets.
- Chemesis International Inc. to Introduce Tobacco-Free Smokeless Cannabis Chew
- The company will manufacture, package, and distribute Tobacco free chew as an alternative to current harmful tobacco products.
- Chemesis International Inc. Announces Partnership with Happy Tea
- The Company secured a $4,000,000 USD purchase order for Happy Tea’s products and catalogue. The Company will distribute Happy Tea products throughout its dispensaries in Puerto Rico and the United States.
- Chemesis International Receives $6,000,000 USD Annual Minimum Purchase Order with PR ONE for Dry Flower & Cannabis Infused Goods
- An additional agreement to further increase Chemesis’ manufacturing revenues and continued growth in Puerto Rico.
- Through agreements such as this, the Company will be able to increase its exposure throughout Puerto Rico’s cannabis industry.
- Chemesis International Announces U.S. Multi-State Expansion
- The Company will concentrate on establishing operations in the Midwest. 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.
- Chemesis International Announces Exclusive Partnership with First Medical Cannabis Bringing Immediate Access of 1,000 acres of Hemp Cultivation in Puerto Rico
- As Chemesis expands its cultivation operations for Hemp based CBD products the Company is partnering with large land owners to ensure there is a consistent supply of hemp for manufacturing into finished goods.
- Chemesis will have access to 1,000 acres for hemp cultivation, and will have the option to expand up to an additional 5,000 acres of prime agricultural estate.
- Chemesis International Signs $4,000,000 USD Annual Purchase Order
- The purchase order for white label products will be delivered on a weekly basis and will increase based on demand.
- Chemesis International Closes Acquisition of La Finca Interacviva-Arachna Med
- La Finca is a licensed cultivator, producer, distributor, and seller of cannabis products with export abilities into global markets.
- La Finca has access to over 1,000 acres of land for cultivation and is currently licensed. The Company is working with the ministry of Agriculture to license seed strains to begin large scale commercial cultivation.
“Chemesis has made a significant amount of progress in 2019, the announcements have built shareholder value,” said Chief Executive Officer, Edgar Montero. “The Company will continue to build its operations to ensure Chemesis is penetrating and gaining consumers in the cannabis market.”
Chemesis remains in a stable financial position with access to $32,625,000 in drawdown equity facilities.
On Behalf of The Board of Directors
Edgar Montero
CEO and Director
About Chemesis International Inc.
Chemesis International Inc. is a vertically integrated U.S. Multi-State operator with International operations in Puerto Rico and Colombia.
The Company focuses on prudent capital allocation to ensure it maintains a first mover advantage as it enters new markets and is committed to differentiate itself by deploying resources in markets with major opportunities. The Company operates a portfolio of brands that cater to a wide community of cannabis consumers, with focus on quality and consistency.
Chemesis has facilities in both Puerto Rico and California and is in the process of constructing a GMP certified facility in Colombia. Chemesis’ Puerto Rico operations are licensed to operate 100,000 ft2 of cultivation, and 35,000 ft2 of manufacturing floor space. The Company is positioned to win additional licenses in highly competitive merit-based US states and will expand its footprint to ensure it maintains a first mover advantage.
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Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable securities laws relating to statements regarding the Company's business, products and future of the Company’s business, its product offerings and plans for sales and marketing. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Readers are cautioned not to place undue reliance on forward-looking information. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance and developments to differ materially from those contemplated by these statements depending on, among other things, the risks that the Company's products and plan will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. Except as required by law, the Company expressly disclaims any obligation and does not intend to update any forward-looking statements or forward-looking information in this news release. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct and makes no reference to profitability based on sales reported. The statements in this news release are made as of the date of this release.
The CSE has not reviewed, approved or disapproved the content of this press release
