Chemesis International Inc. Closes First Tranche of Private Placement

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VANCOUVER, BC / ACCESSWIRE / May 19, 2020 / Chemesis International Inc. (CSE:CSI)(OTCQB:CADMF)(FRA:CWAA) (the “Company” or “Chemesis”) announces that it has closed the first tranche of a non-brokered private placement, issuing an aggregate of 1,420,000 units (“Units“) at a price of $0.50 per Unit for gross proceeds of $710,000.00 (“Private Placement“). The Private Placement is part of a larger offering of up to 6,000,000 Units (“Offering“).

Each Unit consists of one common share of the Company and one common share purchase warrant (“Warrant“), with each Warrant entitling the holder thereof to purchase one additional common share (“Warrant Share“) of the Company at a price of $1.00 per Warrant Share for a period of 24 months.

All securities issued pursuant to the Private Placement are subject to a statutory four month hold period. The proceeds from the Private Placement (and the Offering as a whole) are intended for general working capital and to fund potential future acquisition opportunities.

On Behalf of The Board of Directors
Edgar Montero
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.

Investor Relations:

ir@chemesis.com
1 (604) 398-3378

Forward-Looking Information: This news release contains “forward-looking information” within the meaning of applicable securities laws, including relating to statements regarding the Company’s ability to complete sell additional Units pursuant to the Offering, the Company’s intended use of the proceeds of the Private Placement and the Offering, the Company’s general business, products and future acquisition opportunities, the Company’s plans to continue to develop dispensaries in Puerto Rico, and its ability to obtain licenses in additional jurisdictions, among other things. 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 will not complete the sale of any additional Units under the Offering, 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, in relation to developing dispensaries in Puerto Rico, its ability to identify and complete future acquisitions, 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.

The CSE has not reviewed, approved or disapproved the content of this press release

SOURCE: Chemesis International Inc.

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