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 U.S. Multi-State operator with international operations in Puerto Rico and Colombia.
The Company focuses on prudent capital allocation to ensure it maintains a first mover advantage as it enters new markets and is committed to differentiate itself by deploying resources in markets with major opportunities. The Company operates a portfolio of brands that cater to a wide community of cannabis consumers, with focus on quality and consistency.
Chemesis has facilities in both Puerto Rico and California and is in the process of constructing a GMP certified facility in Colombia. Chemesis’ Puerto Rico operations are licensed to operate 100,000 ft2 of cultivation, and 35,000 ft2 of manufacturing floor space. The Company is positioned to win additional licenses in highly competitive merit-based US states and will expand its footprint to ensure it maintains a first mover advantage.
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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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