Chemesis International Inc. Announces Share Consolidation
Chemesis International Inc. Announces Share Consolidation
December 16, 2019
Vancouver, BC – Chemesis International Inc. (CSE: CSI) (OTC: CADMF) (FRA: CWAA) (the “Company” or
“Chemesis”), announces that it will complete a consolidation (“ Consolidation”) of its issued and outstanding
common shares on the basis of one (1) post -consolidation common share for each ten (10) pre-Consolidation
common shares. Any fraction of a common share will be rounded down to the nearest whole number. As a
result of the Consolidation, the outstanding common shares of the Company will be reduced to 11,498,813.
The common shares will begin trading on a consolidated basis and with a new CUSIP number on December 20,
2019.
The Company’s name and trading symbol will not change.
Letter of transmittals will be mailed to registered Shareholders and registered Shareholders will be required to
deposit their share certificate(s), together with the duly completed letter of transmittal, with Odyssey Trust
Company, the Company's registrar and transfer agent. Non-registered Shareholders holding common shares
through an intermediary (a securities broker, deale r, bank or financial institution) should be aware that the
intermediary may have different procedures for processing the Consolidation than those that will be put in
place by the Company for registered Shareholders. If Shareholders hold their common shares through
intermediaries and have questions in this regard, they are encouraged to contact their intermediaries.
Outstanding stock options and share purchase warrants will also be adjusted by the Consolidation ratio and
the respective exercise prices of outstanding options and share purchase warrants will be adjusted accordingly.
The decision to effect the Consolidation was taken by the Board of Directors of the Company after carefully
considering a number of factors, including the significant decline in the Company’s share price over the past
several months, the significant decline in the market values of many other companies operating in the cannabis
sector, and the related challenges companies in the sector are facing in completing financings, particularly
equity financings. The Company believes that effecting the Consolidation will be beneficial to the Company in
that it is expected to, among other things, provide the Company with greater flexibility in attracting potential
financing.
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 suppl y
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 be lieves
that the expectations reflected in the forward -looking i nformation 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 an d 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 distrib ution
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