Chemesis International Inc. (CSE: CSI) (OTC: CADMF) (FRA: CWAA) is on the move again with plans to add another 25,000 sq.ft. of manufacturing space in Cathedral City, California. It is anticipated that this new facility will be up and running by Q2 2019. NEWS
The additional space will allow for expansion of the company’s finished goods which currently include beverages, edibles and other consumer goods.
The fully state compliant facility for manufacturing, packaging, distribution and transportation will provide direct product distribution to state licensed dispensaries.
This move, which will increase the company’s already strong presence in California, is a follow-up to Chemesis’ announcement in October 2018 of plans to enter into the edibles market. The edibles which will include among other products, gummies, chews, chocolates, brownies, and cookies are expected to be launched this year.
With the continual activities to grow the market stake in California, Chemesis ‘expected annual revenue in that state alone is projected to reach $61.5 million by year four with a net income of $27.2 million. (Investment News Network: 2018 Article: Bringing Vertically-Integrated Cannabis to Puerto Rico and California) https://investingnews.com/company-profiles/chemesis-seed-to-sale-cannabis-company/
Given the cannabis market in California is projected to reach $7.7 billion by 2022, Chemesis is in a good position to continue to capitalize on the market through their own expansion plans. (Cannabis Business Plan : California Cannabis Market) https://cannabusinessplans.com/california-cannabis-market/
This latest California expansion comes on the close heels of Chemesis’ acquisition in November 2018 of La Finca, a Colombian based cannabis company with access to over 1000 acres of cultivation land. This move also includes a partnership with Colombia’s largest university, Universidad Nacional de Colombia for the development of seed strains.
In addition, operations in Puerto Rico continue to be monitored closely with an eye to further expansion in that territory.
With continual innovation and expansion, Chemesis is poised to become an important company to watch and one that I plan to keep on my radar.
Dr. Kal Kotecha
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