On the verge of signing the 2018 farm bill, US CBD distribution channels are about to become main stream
VANCOUVER, British Columbia, Dec. 17, 2018 (GLOBE NEWSWIRE) — Chemesis International Inc. (CSE: CSI) (OTC: CADMF) (FRA:CWAA) (the “Company” or “Chemesis”), announces it has acquired Viverian, a hemp-derived CBD product line that promotes healthy living and provides consumers with quick and easy methods of consumption. This CBD exclusive brand is available via an online e-commerce platform with current distribution in Arizona, Nevada and Florida. The Company will expand into a retail strategy and additional states for online shipping in 2019, once state-by-state regulations have been established for CBD manufacturing and distribution.
For more information on the products, please visit www.viverian.com.
The product line includes CBD tinctures, as well as capsules that may assist with sleep, relaxation, improved concentration, relief for discomfort, and improved overall health and wellness. These products have been lab tested, are THC free, and made of 100% botanical ingredients. Chemesis has secured third-party GMP certified manufacturing for these products.
The expected passing of the U.S. 2018 Farm Bill provides further clarity for hemp derived CBD products on a federal level. Current estimates show the CBD market could grow to over $2.1 billion by 2020, with $450 million in sales coming from hemp-based sources1. The bill is in its final stage, having already passed both the Senate and the U.S. House of Representatives, making this a significant acquisition for the Company.2
“We are extremely excited to bring on a high-quality CBD product catalogue for consumers that is THC free,” said Edgar Montero, CEO of Chemesis. “With the expected passing of the Farm Bill, we believe we are positioning the Company to take advantage of increasing demand for high quality hemp derived CBD products.”
As part of this acquisition for the Viverian product line, the Company will pay US$500,000 in stock priced at the close of December 14, 2018. The stock will be subject to a 36-month escrow release schedule.
[heading h=”6″]On behalf of the board of directors[/heading]
CEO and Director
[heading h=”3″]About Chemesis International Inc.[/heading]
Chemesis International Inc. is a vertically integrated global leader in the cannabis industry, currently operating within California, Puerto Rico, and finalizing an 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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