Chemesis International Inc. Announces Sale of Puerto Rico Operations
ACCESSWIRE
25 Nov 2020, 03:49 GMT+10
VANCOUVER, BC / ACCESSWIRE / November 24, 2020 / Chemesis International Inc. (the 'Company') (CSE:CSI)(OTCQB:CADMF)(FRA:CWAA)
The Company announces that its (former) subsidiary, Natural Ventures PR, LLC ('NVPR'), has sold all of its cannabis assets, and assigned all related liabilities, licenses and permits, to Puerto Rico Industrial Commercial Holdings Biotech Corp. ('PRICH') in exchange for immediate net cash proceeds to the Company, in respect of its 80% interest in NVRP, of US$450,000. The Company notes that, in connection with, and as a condition to, this transaction, it will cease to be a shareholder of NVPR.
The Company also announces that its subsidiary, GSRX Industries Inc. ('GSRX'), has sold all of its Puerto Rican cannabis assets, and assigned all related liabilities, licenses and permits, to PRICH in exchange for immediate net cash proceeds to GSRX of US$2,250,000, and monthly payments to be received in the amount of US$100,000 over a period of 24 months.
On Behalf of The Board of Directors
Josh Rosenberg
President
Investor Relations:
ir@chemesis.com
1 (604) 398-3378
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/618157/Chemesis-International-Inc-Announces-Sale-of-Puerto-Rico-Operations
Subscribe and Follow
Get a daily dose of St Louis Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
News RELEASES
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to St Louis Star.
More Information
31
℉
Covid has hindered diplomatic action, complicated peacemaking efforts
Since September, the devastation wrought by the COVID-19 pandemic has deepened, infecting close to 100 million people, costing more than ...
Work on final 150kms of Nord Stream 2 gas pipeline begins
The Russian vessel tapped to finish the controversial Nord Stream 2 gas pipeline has begun work in Danish waters just ...
U.S. military cleared to recruit transgender people
President Joe Biden has issued an executive order that overturns a ban on transgender people serving in the U.S. military.In ...
Chinese and Indian armies move closer to resolving border dispute
NEW DELHI, India - India and China have agreed to push for an early disengagement of the frontline troops in ...
UK variant of coronavirus could be more lethal says government adviser
PanARMENIAN.Net - There is some evidence that a new coronavirus variant first identified in southeast England carries a higher risk ...
International drug lord compared to Pablo Escobar is finally caught
AMSTERDAM, Netherlands - A Canadian man, one of the world's most wanted fugitives, has been arrested by the Central Unit ...
Wall Street finishes with modest losses, U.S. dollar slips
NEW YORK, New York - U.S. stocks were out of favour on Tuesday with the main indices drifting lower.At the ...
Indian farmers protesting new laws clash with Delhi police
NEW DELHI, India - After clashes between protestors and police in several parts of Delhi, farmers on Tuesday, the Samyukta ...
Nikkei 225 loses 276 points, Aussie stock market shut for national day
SYDNEY, NSW, Australia - Stocks in Asia lost ground on Tuesday.The Australian market missed the damage as markets were closed ...
United States Senate overwhelmingly approves Yellen as treasury chief
WASHINGTON, DC, January 26 (ANI) - The U.S. Senate has confirmed Janet Yellen to be the next Secretary of the ...
U.S. stocks have choppy day, Nasdaq records solid gain
NEW YORK, New York - Wall Street got the wobbles on Monday after a sell-off in Europe and the UK. ...
Harry Potter could be headed for small screen debut
Washington [US], January 25 (ANI): Potterheads have a reason to rejoice as a new 'Harry Potter' television series is currently ...
