Chemesis International Inc. Announces Sale of Puerto Rico Operations
LEGAL*51652448.1
Chemesis International Inc. Announces Sale of Puerto Rico Operations
November 24, 2020
Vancouver, BC – Chemesis International Inc. (the “Company”) (CSE: CSI) (OTC: CADMF) (FRA: CWAA)
The Company announces that its (former) subsidiary, Natural Ventures PR, LLC (“NVPR”), has sold all of its
cannabis assets, and assigned all related liabilities, licenses and permits, to Puerto Rico Industrial Commercial
Holdings Biotech Corp. (“PRICH”) in exchange for immediate net cash proceed s to the Company, in respect of
its 80% interest in NVRP, of US$450,000. The Company notes that, in connection with, and as a condition to,
this transaction, it will cease to be a shareholder of NVPR.
The Company also announces that its subsidiary, GSRX Industries Inc. (“GSRX”), has sold all of its Puerto Rican
cannabis assets, and assigned all related liabilities, licenses and permits, to PRICH in exchange for immediate
net cash proceeds to GSRX of US$2,250,000, and monthly payments to be received in the a mount of
US$100,000 over a period of 24 months.
On Behalf of The Board of Directors
Josh Rosenberg
President
Investor Relations:
1 (604) 398-3378
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