VANCOUVER, British Columbia, Nov. 29, 2018 (GLOBE NEWSWIRE) — Chemesis International Inc. (CSE: CSI) (OTC: CADMF) (FRA:CWAA) (the “Company” or “Chemesis”), announces unaudited Q1 revenues for the period ending September 30, 2018 of $1,919,030 CDN.
In its first quarter of operations, the Company generated revenues through its state compliant manufacturing, packaging, and distribution facilityDesert Zen. With current distribution access to over 650 dispensaries in Southern California, the Company is manufacturing and distributing for multiple third-party brands. By Q1 – 2019, the company plans on expanding this reach by adding more delivery vans to its current fleet and launching its own in-house product portfolio including the Kevin Smith, Jay & Silent Bob product line which was announced November 14th, 2018.
Additionally, the Company’s industrial scale state compliant extraction facility which uses both ethanol and butane extraction, is expected to be operational in early December 2018. Chemesis is currently stockpiling trim to ensure no production delays and anticipates immediate demand for its award-winning California SAP Distillate.
Edgar Montero, CEO of Chemesis stated, “We are pleased with our first quarter revenues and are looking forward to the expansion of our operations. Chemesis will continue to execute its business plan, and we are very excited to bring our fully compliant California extraction facility online in early December. The SAP extraction facility will bring major opportunities within the state, and will allow us to provide fully complaint production, manufacturing, packaging, distribution, and transportation.”
On November 6th, 2018, the Company was approved by the state and successfully transferred the state Cannabis license in Puerto Rico on the Natural Ventures Puerto Rico transaction. Financials and revenues from the Puerto Rico operations are not included in the fiscal Q1 2019 Financials. The company looks forward to further building out its operations in Puerto Rico heading into 2019.
The unaudited condensed consolidated interim financial Statements and MD&A for the three months ended September 30, 2018 will be filed on SEDAR and available at www.sedar.com.
[heading h=”6″]About Chemesis International Inc.[/heading]
Chemesis International Inc. is a vertically integrated global leader in the cannabis industry, currently operating within California.
Chemesis is developing a strong foothold in key markets, from cultivation, to manufacturing, distribution, and retail. Chemesis has a facility in 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 other emerging markets while consistently delivering quality product to its consumers from seed to sale.
[heading h=”6″]On behalf of the board of directors[/heading]
CEO and Director
[heading h=”6″]Investor relations:[/heading]
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.
The CSE has not reviewed, approved or disapproved the content of this press release