VANCOUVER, British Columbia, June 25, 2019 (GLOBE NEWSWIRE) -- Chemesis International Inc. (CSE: CSI) (OTC: CADMF) (FRA: CWAA) (the “Company” or “Chemesis”), announces it has received approval from the State of Michigan to commence construction of its Hemp Processing facility (“Facility”). With this approval, the Company will continue to focus on obtaining assets that allow Chemesis’ to vertically integrate its operations in the state. Chemesis will also work to bring its existing partnerships and brands from its current portfolio to consumers in Michigan.
In addition to beginning the construction of the Facility, the Company is also in the process of planting its first 13 acres of Hemp under the previously announced Hemp Cultivation license. When the first planting has been completed, the Company will be positioned to take advantage of the 2019 cultivation season and will commercialize its operations.
“The approval from Michigan to commence construction of our Processing Facility is another major step forward in Chemesis’ plan to expand as a Multi-State Operator,” said CEO of Chemesis, Edgar Montero. “The Company believes the Michigan cannabis market will bring major value to our bottom line and we will continue to build our presence in the state. In addition to Michigan, the Company will continue to perform due diligence on cannabis assets across the United States.”
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 which 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 finalizing an acquisition in Colombia. 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.