Mr. Edgar Montero reports
CHEMESIS INTERNATIONAL INC. PROVIDES CORPORATE UPDATE
Further to the news release dated Jan. 27, 2020, the Puerto Rico Department of Health (DHPR), as a result of the previously announced favourable judgment from the Puerto Rico Superior Court, San Juan (please see the news release dated Jan. 17, 2020), has reinstated all cannabis cultivation and cannabis manufacturing licences, held by Chemesis International Inc.'s subsidiary, Natural Ventures PR LLC. The decision, which is still under appeal, found that such abeyance of the licences was invalid and unconstitutional, and nullified such action.
The company noted that, at the current time, the licences have been reinstated to being operational, and that Natural Ventures is permitted to carry out the licensed activities under the licences. The company will provide further updates, as appropriate.
About Chemesis International Inc.
Chemesis is a vertically integrated U.S. multistate operator with international operations in Puerto Rico and Colombia.
Chemesis has facilities in both Puerto Rico and California. The company is positioned to win additional licences in highly competitive merit-based U.S. states and will expand its footprint to ensure it maintains a first-mover advantage.
We seek Safe Harbor.
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