The Facility in Point Arena will supply the market with THC based finished goods
VANCOUVER, British Columbia, Sept. 23, 2019 (GLOBE NEWSWIRE) -- Chemesis International Inc. (CSE: CSI) (OTC: CADMF) (FRA: CWAA) (the “Company” or “Chemesis”) announces its subsidiary GSRX Industries Inc. (“GSRX”) (OTCQB: GSRX) has received state-wide manufacturing and distribution licenses for its Facility (“Facility”) in Point Arena, California. The Facility in Northern California will allow Chemesis to supply dispensaries with high-quality finished goods.
This additional Facility further increases Chemesis’ manufacturing and distribution services for the Northern California market and will concentrate its efforts on THC manufacturing and distribution. The Company will distribute finished goods to dispensaries including Chemesis’ Green Room dispensary, which is located in Point Arena. The Facility provides local manufacturing in an effort to increase efficiencies and capacity while reducing lead times. The Facility is currently under construction and is expected to complete build out with final occupancy permits granted by Q4 2019. The Company’s extraction services will remain at its state-of-the-art Cathedral City facilities.
“The Northern California market is home to over 15 million people,” said Chief Executive Officer of Chemesis, Edgar Montero1. “The Company believes this market is currently underserviced and lacks high-quality manufacturing and products. The Facility will allow Chemesis to establish operations and begin to build distribution, manufacturing and retail relationships with operating dispensaries in the Northern California market.”
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, including in relation to statements regarding the Acquisition, the Buy-Out Transaction, the anticipated benefits of the Acquisition and the Buy-Out Transaction, respectively, the ability to realize any profits or increase to profits from its production facilities the expected size of the CBD market, the Company’s ability to increase production of various cannabidiol products, and generally regarding the business, profitability, products and future of the Company’s business, its product offerings and plans for revenue generation, sales and marketing, including upon completion of the Acquisition and Buy-Out Transaction, respectively. 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 or Buy-Out Transaction, respectively, will not be completed as proposed or at all, that the anticipated benefits of the Acquisition or Buy-Out Transaction, respectively, will not materialize, that its production facilities will not be profitable or increase profitability as expected, that the CBD market will not expand as anticipated, that the Company will not be able to expand production of CBD products at the rate anticipated upon closing of the Acquisition or Buy-Out Transaction, respectively (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.
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