Chemesis International Inc. Provides Corporate Update for Puerto Rico Based Operations
VANCOUVER, Dec. 11, 2018 (GLOBE NEWSWIRE) — Chemesis International Inc. (CSE: CSI) (OTC: CADMF) (FRA: CWAA) (the “Company” or “Chemesis”), announces revenues earned from the period of November 6th, 2018 to December 6th, 2018 of $336,600 CAD. Since the Company announced the transfer of the state cannabis license, Chemesis has been aggressively expanding Natural Ventures operations to increase its ability to serve the growing number of patients on the island.
Natural Ventures is a fully integrated medical cannabis company, with 100,000 sq/ft of cultivation and 35,000 sq/ft of CO2 based extraction. Natural Ventures is servicing approximately 90% of the dispensaries in Puerto Rico and in 2018 is on pace to be the largest third-party manufacturer based on volume.
Puerto Rico’s health department has implemented a new online health platform that allows patients to gain approval for the use of cannabis products. This allows the department to streamline the approval process, where currently, over 5,000 applications are received each month. The public health department estimates over 100,000 registered patients by the end of 2019.1
“Chemesis believes Natural Ventures will provide shareholder value with long term consistent revenues, while also maintaining a high-quality standard of products for the patients on the island,” said CEO, Edgar Montero. “Natural Ventures will continue to expand its operations and capabilities as the island’s patient base continues to grow. The Company believes it is poised to take advantage of the increased demand from a larger patient base, and will continue to be a leader in cannabis products on the island.”
On Behalf of The Board of Directors
CEO and Director
About Chemesis International Inc.
Chemesis International Inc. is a vertically integrated global leader in the cannabis industry, currently operating within California, Puerto Rico, and finalizing acquisition in Colombia.
Chemesis is developing a strong foothold in key markets, from cultivation, to manufacturing, distribution, and retail. Chemesis has facilities in both Puerto Rico and California, allowing for cost effective production and distribution of its products. In addition, Chemesis leverages exclusive brands and partnerships and uses the highest quality extraction methods to provide consumers with quality cannabis products.
Chemesis will add shareholder value by exploring opportunities in emerging markets while consistently delivering quality product to its consumers from seed to sale.
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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 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.
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