Chemesis International Inc. Signs USD $4 Million Annual Purchase Order
VANCOUVER, British Columbia, Feb. 28, 2019 (GLOBE NEWSWIRE) -- Chemesis International Inc. (CSE: CSI) (OTC: CADMF) (FRA: CWAA) (the “Company” or “Chemesis”), announces its subsidiary Natural Ventures has signed a definitive agreement for an annual purchase order of a minimum total of USD $4,000,000.
The Company will cultivate, manufacture, package and distribute for the Puerto Rico based dispensary network from its fully licensed, state compliant facility. The products are white labelled under the dispensaries brand and delivered on a weekly basis. Initial purchase orders over $400,000 USD have been fulfilled in February and with weekly increases in the Puerto Rican medical patient base, both companies anticipate demand to increase heading into the Q2 2019.
Chemesis has built a strong relationship with this retail focused team, and we will ensure we supply their dispensaries with high-quality cannabis products
said CEO of Chemesis, Edgar Montero.
Natural Ventures has continued to solidify its reputation as a high-quality cultivator, and manufacturer of cannabis products and we see this purchase order as validation. Furthermore, the Company expects to see an increase in monthly purchase orders, as more dispensaries are opened around the island
Natural Ventures began fulfilling purchase orders in February 2019 and is providing the vendor with edibles, vaporizers, lotions, beverages, and flower.
Due to the competitive nature of the cannabis market in Puerto Rico, the Company will not disclose who the vendors are at this time.
On Behalf of The Board of Directors
CEO and Director
Chemesis International Inc. is a vertically integrated global leader in the cannabis industry, currently operating within California, Puerto Rico, and 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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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 of the Company’s business, its product offerings and plans for sales and marketing, including finalizing an acquisition in Colombia. 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.