VANCOUVER, B.C., July 26, 2018 (GLOBE NEWSWIRE) — Chemesis International Inc. (CSE:CSI) (the “Company” or “Chemesis”), is pleased to announce it has entered into a binding supply agreement with a California distribution company that delivers premium lab tested cannabis to dispensaries and producers throughout the state of California.
The vendor is well known for their high standards in meeting compliance with thorough testing, efficient distribution, and top of the line equipment. The vendor tests the cannabis for potency, moisture, terpene, and pesticides, both microbiological and residual solvents. Chemesis will be provided with trim that will allow the facility to produce our high-quality oil for the California Sap brand and other white labeled products.
Under the terms of this agreement, the vendor is to provide 10,000 lbs/month of clean tested trim which yields a minimum of 10% return upon processing at the Cathedral City Facility. This supply agreement is highly beneficial to both companies, as Chemesis is able to produce high quality oil for distribution in California and the vendor is able to provide its high-quality tested cannabis for manufacturing. The vendor leverages a strong supply chain to ensure the supply agreement is consistently fulfilled.
“This is a critical achievement that positions the Company for significant growth in the California market, particularly with recent regulation changes restricting many in the California market. The Company is confident this agreement will build a strong revenue stream while continuing to build an efficient and streamlined manufacturing facility in Cathedral City. Chemesis will continue to build value by maintaining cost efficiency and ensuring we are supplying the market with high quality oils,” said Edgar Montero CEO of Chemesis.
Due to the competitive nature of the cannabis market in California, the Company will not disclose who the vendor is at this time.
About Chemesis International Inc.
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.
On behalf of the board of directors
CEO and Director
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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