Chemesis International Inc. to Cultivate and Manufacture for Puerto Rican CBD Market
Natural Ventures will cultivate and manufacture CBD products for the Puerto Rican medical cannabis market
VANCOUVER, British Columbia, Jan. 24, 2019 (GLOBE NEWSWIRE) — Chemesis International Inc. (CSE: CSI) (OTC: CADMF) (FRA: CWAA) (the “Company” or “Chemesis”), announces its subsidiary Natural Ventures will enter the CBD market. The U.S. CBD market could surge to $845 million by 2019, and over $2 billion by 20221. With the passing of the 2018 Farm Bill the federal CBD market will allow U.S. territories such as Puerto Rico to ship its hemp derived products across state lines and into markets across the US.
Natural Ventures has begun cultivating high potency CBD strains, and anticipates full production capabilities by Q2 2019. The Company was able to crossbreed genetics which allowed for an increased CBD concentration and the seed strains have been fully registered with the Puerto Rican Health Department. Furthermore, the subsidiary holds all necessary licenses to cultivate and manufacture hemp derived finish goods.
With infrastructure already in place, Natural Ventures will be able to effectively add CBD products alongside its currently available finished goods. The Company anticipates the roll out of products into dispensaries across Puerto Rico by Q2 2019. Initial products will include tinctures, balms, vape pens and sprays.
“Patients in Puerto Rico know and trust the Natural Ventures brand,” said CEO, Edgar Montero. “The Company believes this relationship with patients will give us a head start and allow us to enter the CBD market effectively and our existing relationships will ensure we are able to quickly get our products on the shelves of dispensaries around 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 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 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.
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