Chemesis International Inc. Announces Completion of Debt Settlement
Chemesis International Inc. Announces Completion of Debt Settlement
July 24, 2020
Vancouver, BC – Chemesis International Inc. (CSE: CSI) (OTC: CADMF) (FRA: CWAA) (the “Company” or
“Chemesis”), is pleased to announce it has settled outstanding accounts payable liabilities in the amount
of CDN $ 470,843.49 (the “ Debt Settlement ”). The Debt Settlement has been satisfied through the
issuance of 692,416 units (the “Units”) at a price of $0.68 per Unit . Each Unit consisted of one common
share in the capital of the Company (the “Common Shares”) and one common share purchase warrant
(each, a “Warrant”) with each Warrant entitling the holder thereof to purchase one additional common
share (each, a “Warrant Share”) of the Company at a price of $0.85 per Warrant Share for a period of 24
months following issuance.
Furthermore, the Company has also settled further outstanding accounts payable liabilities in the amount
of USD $24,000 (the “Debt Settlement”). The Debt Settlement has been satisfied through the issuance of
38,307 Common Shares in the capital of the Company at a price of $0.85 per Common Share.
The Common Shares issued in connection with each of the Debt Settlements are subject to a statutory
hold period of four months plus one day from the date of issuance, in accordance with applicable
securities legislation, expiring November 25, 2020.
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:
1 (604) 398-3378
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 ca use 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.
The CSE has not reviewed, approved or disapproved the content of this press release.