Chemesis International Inc. Secures Supply Agreement for Hemp Biomass in California
Chemesis will process, extract and manufacture hemp-derived CBD products in its California facilities
VANCOUVER, BC / ACCESSWIRE / October 23, 2019 / Chemesis International Inc. (CSE:CSI) (OTCQB:CADMF) (FRA:CWAA) (the “Company” or “Chemesis”), announces it has secured a supply agreement for high yield CBD biomass cultivated in California. The Company will extract the biomass over the next 2 months in its California extraction facility for internal use within its finished products.
The Company will continue to increase its finished goods offering for CBD products to further expand its white and private-labelling programs for businesses and brands on a global scale. The Company will utilize the oil to ensure quality and consistency batch to batch further strengthening Chemesis’ ability to manufacture high-end products.
The Company continues to secure third-party manufacturing clients such as Happy Tea and PR One and as it builds out additional product offerings, Chemesis anticipates a significant ramp up in its client base.
“The Company is continuing to build out its extraction and manufacturing capabilities,” said CEO of Chemesis, Edgar Montero. “Chemesis will service brands and businesses with extraction, manufacturing, packaging, and transportation. The Company is continuing to work with businesses to ensure our processes and capabilities are aligned with what consumers and brands are looking for.”
On Behalf of The Board of Directors
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, including with respect to the Company’s expectations regarding the Review, its plans to continue to develop dispensaries in Puerto Rico, and its ability to obtain licenses in additional jurisdictions. 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 Review may not be completed promptly, that the activities permitted under the Licenses will be restored, 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, including, but not limited to, in relation to developing dispensaries in Puerto Rico, and its ability to obtain licenses in additional jurisdictions. 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
SOURCE:Chemesis International Inc.
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