Chemesis intends to distribute its hemp-derived, tobacco-free, smokeless Chew through an initial roll-out of 34 British Columbia Private Liquor Stores
VANCOUVER, British Columbia, Aug. 14, 2019 (GLOBE NEWSWIRE) — Chemesis International Inc. (CSE: CSI) (OTC: CADMF) (FRA:CWAA) (the “Company” or “Chemesis”), announces that it has signed Letters of Intent (“LOIs”) with 34 private liquor stores in British Columbia (B.C.) for distribution of its hemp-based chew products, pursuant to which Chemesis expects to begin distributing its products throughout the lower mainland and other densely populated areas of B.C. by early Q4 2019.
Chemesis anticipates strong demand in the Canadian market, as its tobacco-free, smokeless product is a healthier alternative to otherwise similar products that are currently available. A IBIS World’s Cigarette & Tobacco Manufacturing research report published in November, 2018 estimates the market for such products at CAD $2 billion, with an annual growth rate of 8% from 2013-2018.
Opportunities outside of liquor stores will also be pursued as the company gears towards its Q4 2019 commercialization.
“These LOIs will provide great consumer access to our hemp-derived chew”, stated Chemesis CEO, Edgar Montero. “As the brand and products continue to develop, the Company will look to replicate these type of distribution arrangements. We are excited to be able to offer the market a smoke-less, tobacco-free product which is a healthier alternative to otherwise similar products currently available.”
Due to competitive nature of the market, the Company will not disclose who the LOIs have been signed with at this time.
[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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