Vancouver, BC – Chemesis International Inc. (the “Company”) (CSE: CSI) (OTC: CADMF) (FRA: CWAA), is pleased to announce that it has entered into debt settlement agreements with certain convertible debenture holders and other creditors, pursuant to which it has discharged an aggregate total indebtedness of CDN $234,176 (the “Debt Settlements“) on the following bases:
- CDN $234,176 in convertible debt for services rendered through the issuance of an aggregate total of 396,913 common shares of the Company at a deemed price of CAD $0.59 per common share to certain creditors of the Company.
The securities issued pursuant to the Debt Settlements are subject to a four month hold period from the date of issuance.
On Behalf of The Board of Directors
1 (604) 398-3378
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