Chemesis International Inc. Provides Corporate Update

Rhea-AI Summary

Chemesis International Inc. (CSE:CSI)(OTCQB:CADMF) announced a 60-day extension for its Puerto Rico cannabis licenses held by Natural Ventures PR LLC, granted by the Department of Health. This routine extension occurs every two months during the ongoing appeal process regarding the licenses. The company assures that operations under the licenses continue normally. Caution is advised regarding forward-looking statements that may not guarantee future results or profitability.

Positive

• 60-day administrative extension granted for cannabis licenses in Puerto Rico.
• Routine extensions indicate ongoing compliance with regulatory requirements.

Negative

• Licenses are under appeal, indicating potential instability in future operations.
• No assurance that the company can maintain licensed activities as currently conducted.

VANCOUVER, BC / ACCESSWIRE / September 2, 2020 / Chemesis International Inc. (the "Company") (CSE:CSI)(OTCQB:CADMF)(FRA:CWAA) The Company is pleased to announce that the Puerto Rico cannabis licenses (the "Licenses") held by the Company's subsidiary, Natural Ventures PR LLC, have been granted an administrative extension for a period of sixty (60) days by the Department of Health of Puerto Rico. The Company notes that the Licenses have, as a matter of routine, been extended on such basis every sixty (60) days during the period in which the status of the Licenses has been subject to an appeal before the courts in Puerto Rico.

The Company notes that its operations under the Licenses continue in the ordinary course.

On Behalf of The Board of Directors
Josh Rosenberg
President

Investor Relations:

ir@chemesis.com
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 ability of the Company to continue to operate under the Licenses. 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 including, among other things, the risks that the Company will not be able to maintain or continue licensed activities under the Licences as currently being conducted, or at all, and that the Company's products and plans will vary significantly as a result. 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.

SOURCE: Chemesis International Inc.

View source version on accesswire.com:
https://www.accesswire.com/604418/Chemesis-International-Inc-Provides-Corporate-Update

FAQ

What is the significance of the cannabis license extension for CADMF?

The 60-day extension ensures continued operations under the licenses, which is crucial for maintaining business stability.

What are the risks associated with Chemesis International's cannabis licenses?

Licenses are currently under appeal, which may affect future business operations and stability.

How often are the licenses for CADMF renewed?

The licenses have been routinely extended every 60 days during the appeal process.

Who is responsible for the decision on the cannabis licenses for Chemesis?

The Department of Health of Puerto Rico grants the administrative extensions for the licenses.