Chemesis International Inc. (CSE:CSI, OTC:CADMF, FRA:CWAA) (the “Company” or “Chemesis”), announces its wholly owned subsidiary, La Finca Interacviva-Arachna Med (“La Finca”), is on track to complete its Agronomic Evaluation Programs in the regions of Santander, Valle del Cauca and Cundinamarca in calendar Q1 2020. The completion of the Agronomical Evaluations is a major step towards registering our own genetics as the Company’s Intellectual Property. Leveraging genetics, La Finca believes it will be able to build a stable and consistent revenue stream as a global seed supplier.
The Company continues to work with the Ministry of Agriculture and local farmers to increase its land package through its previously announced non-profit organization, the Association for the Promotion of Cannabis Cultivation. The association works with local indigenous farming communities such as afro-Colombians, agroindustry’s and other small farmers in Colombia to provide education, technical advice, and a crop purchasing program.
In addition, La Finca continues to build its seed stock through cultivation and anticipates additional larger harvests in early calendar 2020. To ensure high quality and consistent yields, the Company continues to work with Universidad Nacional de Colombia to further refine seed genetics for each individual region. La Finca also anticipates the harvest of over 5,000 kg of biomass to occur within the next 90 days.
“La Finca has made incredible progress in a very short amount of time,” said Chief Executive Officer, Edgar Montero. “The Company continues to execute on its strategy by increasing its land package and progressing towards the completion of Agronomic Evaluations. La Finca continues to talk with groups to significantly increase its land package and work with academics to ensure our seeds provide the highest yields. The Company believes through this continued dedication for quality and compliance, La Finca will be a leader in cannabis cultivation, manufacturing and retail in Colombia.”
On Behalf of The Board of Directors
CEO and Director
About Chemesis International Inc.
Chemesis International Inc. is a vertically integrated U.S. Multi-State operator with International operations in Puerto Rico and Colombia.
The Company focuses on prudent capital allocation to ensure it maintains a first mover advantage as it enters new markets and is committed to differentiate itself by deploying resources in markets with major opportunities. The Company operates a portfolio of brands that cater to a wide community of cannabis consumers, with focus on quality and consistency.
Chemesis has facilities in both Puerto Rico and California. The Company is positioned to win additional licenses in highly competitive merit-based US states and will expand its footprint to ensure it maintains a first mover advantage.
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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 of the Company’s business, its product offerings and plans for sales and marketing, including with respect to the Company’s expectations regarding its supply and distribution arrangements, ability to realize benefits from its recent contractual arrangements, its plans to continue to develop dispensaries in Puerto Rico, and its ability to obtain licenses in additional jurisdictions. 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, including, but not limited to, in relation to executing on and maintaining its supply and distribution arrangements and recent contractual arrangements, in relation to developing dispensaries in Puerto Rico, and its ability to obtain licenses in additional jurisdictions. 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.