Chemesis International Inc. (CSE:CSI, OTC:CADMF)(the “Company” or “Chemesis”), announces it has entered into binding agreements to acquire 100% of a fully-operational extraction and manufacturing facility in Cathedral City, California (“Facility”).  Once completed, this transaction (“Acquisition”) will expand the Company’s processing ability to over 500,000 kg of cannabis annually. The new state-of-the-art facility is fully licensed, and the Acquisition is expected to double the Company’s current capacity to process large amounts of cannabis to extract THC, CBD and other cannabinoid and terpene products.

The Facility is located within close proximity to the Company’s existing licensed extraction facility, which commenced operations this quarter.  Upon completion, the Acquisition will permit the Company to operate two fully licensed and commercialized facilities, which is expected to streamline resources for the Company’s controlled expansion plan within the U.S.

The Acquisition will result in the Company acquiring control over the following licenses:

  • Cannabis Business Local License, #MCL-17-007-M-18
  • Cannabis Business Local License, #MCL-17-007-C-18
  • Type 7 Manufacturing License – Adult & Medical Cannabis Products, #CDPH-T00000362

Furthermore, the Company is exploring the possibility of processing hemp at the Facility for full spectrum plant extracts rich in CBD and leveraging the hemp legalization provisions of the 2018 U.S. Farm Bill to capitalize on the expected increased demand for CBD.  It has been estimated that the CBD market will have a value of over $2.1 billion by 20201. Legislation is currently pending in California that would accommodate incorporating hemp-derived cannabinoids and terpenes into the currently regulated cannabis supply chain (similar to neighboring legal cannabis states like Oregon), as well as non-THC-infused food, beverages and cosmetics.

“The Company will, upon completion of the Acquisition, significantly increase its production and manufacturing capabilities in the U.S.,” said CEO of Chemesis, Edgar Montero. “The addition of this new facility will allow the Company to extract high-quality cannabinoids and terpenes for use in a wide variety of consumer products.  Chemesis will then be able to leverage its existing expertise in extraction, distribution, and sales to continue growing revenues and build long-term value. I believe this expansion will open up considerable new revenue opportunities for the Company when we begin processing hemp,” added Montero.

Under the terms of this acquisition, Chemesis will pay $1,000,000 USD 90 days from closing and issue 4,600,000 shares. The stock is subject to 36-month lock-up/leak-out guidelines.  The Acquisition is expected to close on or about March 30, 2019.

On Behalf of The Board of Directors
Edgar Montero
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.

Investor Relations:
ir@chemesis.com
1 (604) 398-3378

Social Media:

Chemesis.facebook
Chemesis.twitter
Chemesis.instagram
DesertZen.instagram
CaliforniaSap.instagram
Jay&SB.instagram

Forward-Looking Information: This news release contains “forward-looking information” within the meaning of applicable securities laws, including in relation to statements regarding the Acquisition, the anticipated benefits of the Acquisition, the expected size of the CBD market, the Company’s ability to increase production of various cannabidiol  products, and generally regarding the business, products and future of the Company’s business, its product offerings and plans for sales and marketing, including upon completion of the Acquisition. 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 Acquisition will not be completed as proposed or at all, that the anticipated benefits of the Acquisition will not materialize, that the CDB market will not expand as anticipated, that the Company will not be able to expand production of CDB products at the rate anticipated upon closing of the Acquisition (or at all), and generally 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

Click here to connect with Chemesis International Inc. (CSE:CSI, OTC:CADMF) for an Investor Presentation. 

Source: globenewswire.ca

 Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) announces that Philip Young, CEO and Director, and Maghsoud Dariani, Chief Science Officer will be presenting on Thursday, February 25th, 2021 at 5:45 pm EST at “The Gold Standard in Psychedelic Investment, Psychedelic Capital Virtual Investment Conference”, a platform showcasing the top companies, latest IPOs, newest opportunities, and deepest industry insights.

As a presenting sponsor, the Company will connect directly with some of the earliest moving investors in the psychedelic industry and reach an audience of 2,000+ investors. Presentations are 30 minutes in length, with 10 minutes allocated to a one-on-one Q&A session with the audience.

Keep reading... Show less

As Canadian operators race to strengthen their positions in the cannabis landscape, are international pursuits outside North America still top of mind?

The role that mergers and acquisitions (M&A) have played in the expansion of Canadian companies across the globe has been monumental for the growth of the cannabis industry. Now the space has reached a critical point as the demands of the US market increase.

Keep reading... Show less

It’s been just over a year since recreational cannabis was legalised in the Australian Capital Territory (ACT), home to the nation’s capital city of Canberra.

Announced on September 25, 2019, and brought into effect on January 31, 2020, the rules make it legal to possess and personally use small amounts of cannabis.

Keep reading... Show less

Pac Roots Cannabis Corp. (CSE: PACR) (“PacRoots” or the “Company”), announces the closing of its previously announced non-brokered private placement (see press release dated January 25, 2021).

Aggregate gross proceeds of $1,340,685.90 were raised through the issuance of 7,448,255 units (each a “Unit”). Each Unit consists of one common shares and one share purchase warrant. Each warrant is exercisable at a price of $0.30 per share until February 23, 2024.

Keep reading... Show less

 Trulieve Cannabis Corp. (“Trulieve” or the “Company”) (CSE: TRUL) (OTC: TCNNF), a leading and top-performing cannabis company in the United States will release its fourth quarter 2020 financial results on Tuesday, March 23, 2021 before markets open. Following the earnings release, management will host a conference call at 8:30 AM Eastern Time to review the financial results.

All interested parties can join the conference call by dialing 1-888-231-8191 or 1-647-427-7450, conference ID: 7066881. Please dial in 15 minutes prior to the call to secure a line. The conference call will be archived for replay until March 30, 2021 . To access the archived conference call, please dial 1-855-859-2056 and enter the encore code 7066881.

Keep reading... Show less