Chemesis International Inc. Reports 2019 Year-End Audited Financial Statements
Chemesis, Inc. (CSE: CSI) (OTC: CADMF) (FRA:CWAA)
Chemesis International Inc. Reports 2019 Year-End Audited Financial Statements
November 4, 2019
Vancouver, BC – Chemesis International Inc. (CSE: CSI) (OTC: CADMF) (FRA: CWAA) (the “Company” or
“Chemesis”), announces the filing of its audited fiscal 2019 year -end consolidated financial statements
and reports on the most recently completed periods.
2019 HIGHLIGHTS
● The Company reported combined revenues of CAD $7. 5M for Q4 and Q3 of fiscal 2019
respectively, with combined gross profit of CAD $1.4M for those two periods.
● The Company commercialized its California based extraction facility in January 2019 and began to
extract THC distillate for finished goods, for sale throughout the state.
● The Company closed the acquisition of Colombia based, La Finca Interacviva -Arachna Med, a
licensed cultivator, producer, distributor, and seller of cannabis products with export abilities into
global markets.
● The Company closed the d efinitive agreement to acquire an additional extraction and
manufacturing facility in Cathedral City, California. The fully licensed facility further allowed the
Company to expand its ability to extract THC, CBD and other cannabinoid and terpene products.
● The Company closed the acquisition of Puerto Rico based, Natural Ventures PR, a licensed medical
cultivator, manufacturer and distributor of high-quality cannabis products.
SUBSEQUENT EVENTS
● The Company announced the closing of CAD $2M in equity financings.
● Chemesis completed the acquisition of a controlling interest in GSRX Industries Inc. (“GSRX”), a
leader in retail cannabis dispensaries, distribution & brand development. Through this acquisition,
Chemesis further expands its operations into the retail dispensary markets in California and
Puerto Rico. This allows the Company to increase profitability of its existing manufacturing and
cultivation products through sales directly to consumers. GSRX's financial statements will be
consolidated under Chemesis International from Au gust 29, 20 19 onwards. The consolidated
financial statements for the year ended June 30, 2019, do not include GSRX’s operations.
● Chemesis announced a partnership with Happy Tea and secured a $4M USD purchase order Happy
Tea’s CBD product catalogue. The Company will distribute Happy Tea products throughout Puerto
Rico and the United States.
Chemesis, Inc. (CSE: CSI) (OTC: CADMF) (FRA:CWAA)
Edgar Montero, CEO of Chemesis stated, “the Company’s operations continue to see increases in revenue
quarter over quarter and we anticipate our operations will continue to grow as we see significant demand
for the products we manufacture and package. The Company's revenues, accounts receivables and
inventory are growing consistently. Chemesis is also putting forth further resources to expand into
additional US States to expand the Company’s multi-state operations. The team has created a foundation
that we believe will create significant opportunities in 2020.”
Chemesis remains in a stable financial position with access to CAD $32.6M in drawdown equity facilities.
The audited condensed consolidated financial Statements and MD&A for the year ended June 30, 2019
will be filed on SEDAR and available at www.sedar.com.
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:
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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 busines s, products and future of the
Chemesis, Inc. (CSE: CSI) (OTC: CADMF) (FRA:CWAA)
Company’s business, its product offerings and plans for sales and marketing, including finalizing an acquisition in
Colombia. 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. 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