Chemesis International Inc. (the “Company”) (CSE: CSI) (OTC: CADMF) (FRA: CWAA) The Company announces that the Department of Health of Puerto Rico (“Department of Heath”) is conducting a review of certain filings made by the Company’s subsidiaries, Natural Ventures PR LLC (“NVPR”) and GSRX Industries Inc. (“GSRX”) with the Department of Health. This review is in addition to the ongoing administrative review by the Department of Health previously announced by the Company (see news releases dated August 7, 2020 and January 17, 2020).
The Company’s Puerto Rico legal counsel have been in contact with the Department of Health and will have an opportunity to discuss and address this matter through an administrative process expected to commence within the next few days. The Company, through its local legal counsel, has been informed that the Licenses will remain intact during such process.
At present, the Company’s operations under the Licenses continue in the ordinary course.
On Behalf of The Board of Directors
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, and the ability of the Company to engage in any administrative process with the Department of Health. 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, and that the Company will not be permitted to engage with the Department of Health through an administrative or other process to address the concerns raised. 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.
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