Chemesis International Inc. & Rapid Dose Therapeutics Sign Agreement to Bring QuickStrip™ Oral Thin Strips to Michigan
VANCOUVER, British Columbia, June 27, 2019 (GLOBE NEWSWIRE) — Chemesis International Inc. (CSE: CSI) (OTC: CADMF) (FRA: CWAA) (the “Company” or “Chemesis”), and Rapid Dose Therapeutics Inc. (“RDT”), are proud to announce they have signed an additional definitive agreement to bring QuickStrip™ Oral Thin Strips to the state of Michigan. The Company previously announced a definitive agreement to produce QuickStrips™ for the state of California and subsequently to bring QuickStrips™ to Puerto Rico.
“We are focused and committed to providing consumers in the US medical and recreational cannabis markets a Smoke-Free Choice™.” said Mark Upsdell, CEO of RDT. “RDT will continue to expand our strategic global partnerships and further strengthen our market share in the cannabis sector. This agreement with Chemesis improves the QuickStrip™ position as a growing international brand and delivery device to Michigan consumers, while simultaneously offering health benefits and improving patient outcomes.”
RDT’s proprietary QuickStrip™ technology is a Quick, Convenient, Precise, Discreet™ oral fast-dissolving drug delivery system that offers a No Smoke, No Smell, No Stigma™ product to consumers. Chemesis expects to produce and distribute QuickStrip™ in Michigan by the end of 2019.
“Chemesis continues to have an incredible partnership with RDT, we are extremely excited to bring QuickStrip™ Oral Thin Strips to another state,” said CEO of Chemesis, Edgar Montero. “Chemesis has recently announced the commercialization of QuickStrip™ Oral Thin Strips in Puerto Rico, a significant step forward to bringing large scale distribution across the United States and other markets. Chemesis believes its partnership with RDT will continue to bring value to its shareholders.”
As part of the Agreement, Chemesis maintains the option to add future markets as the opportunity in those regions evolve.
On Behalf of The Board of Directors
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 which cater to a wide community of cannabis consumers, with focus on quality and consistency.
Chemesis has facilities in both Puerto Rico and California, and is in the process of constructing a GMP certified facility in Colombia. Chemesis’ Puerto Rico operations are licensed to operate 100,000 ft2 of cultivation, and 35,000 ft2 of manufacturing floor space. 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.
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