VANCOUVER, British Columbia, Jan. 28, 2019 (GLOBE NEWSWIRE) -- Chemesis International Inc. (CSE: CSI) (OTC: CADMF) (FRA: CWAA) (the “Company” or “Chemesis”), announces its wholly owned subsidiary La Finca Interacviva-Arachna Med (“La Finca”) plans to commence construction of its GMP certified extraction facility before the end of Q1, 2019. The state-of-the-art facility will also house a certified production lab, which will have a large production capacity for both domestic and international markets.
Chemesis has a strong track record of constructing and operating compliant extraction labs in different international markets, as demonstrated in California and Puerto Rico. The Company will leverage a first mover advantage in Colombia, where there is currently a scarcity of certified extraction facilities. La Finca will continue to add to its current 1,060 acre cultivation land as construction begins on the new processing facility.
The Company is also pleased to announce, La Finca has been granted a Seed Producer License. La Finca recently had a verification visit from ICA (Colombian Ministry of Agriculture), where La Finca demonstrated full compliance with all regulations and infrastructure requirements to be granted this license. As per ICA regulations, La Finca will work towards the completion of additional agronomic evaluations. Once completed, the Company will be permitted to commence large scale commercial cultivation in regions across the nation.
As previously announced, the Company and Universidad Nacional of Colombia will continue their partnership to research ideal densities for biomass, yield improvement, ideal seed strains per climate, and harvesting techniques. In addition, the Company and University are researching indoor cultivation for high content CBD flower. This initial research, cultivation, and harvesting will occur in La Finca’s 10,000 ft2 greenhouse.
“We are extremely pleased with La Finca and the progress it has made in such a short period of time,” said CEO, Edgar Montero. “The Company’s certified extraction facility will allow the Company to service both domestic and international markets with a variety of finished goods, for its in house and third-party brands.”
Additional updates on Colombia operations and construction will be provided in the near future
On Behalf of The Board of Directors
Edgar Montero
CEO and Director
About Chemesis International Inc.
Chemesis International Inc. is a vertically integrated global leader in the cannabis industry, currently operating within California, Puerto Rico, and Colombia.
Chemesis is developing a strong foothold in key markets, from cultivation, to manufacturing, distribution and retail. Chemesis has facilities in both Puerto Rico and California, allowing for cost effective production and distribution of its products. In addition, Chemesis leverages exclusive brands and partnerships and uses the highest quality extraction methods to provide consumers with quality cannabis products.
Chemesis will add shareholder value by exploring opportunities in emerging markets while consistently delivering quality product to its consumers from seed to sale.
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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 business, products and future of the 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