Chemesis Int'l (CSI-Cse) Cdn$5.8 Million Equity Financing
Feb 25, '19 - NR
Chemesis Int'l is pleased to announce a non-brokered private placement (the “Offering”) of up to CDN $5,800,000 or 3,152,174 units (the “Units”) at a price of CDN $1.84 per unit. The Offering will be led by New York based Global Emerging Markets (“GEM”), and participation from Canadian institutional investors.
Under the terms of the Offering, the Company will issue 3,152,174 common shares, at a price of CDN $1.84. Each Unit will be comprised of one common share and one common share purchase warrant (“Warrants”), with each Warrant exercisable for one common share at an exercise price of CDN $2.50 for a period of 24 months from the closing date.
GEM is a global alternative investment group that manages a diverse set of investment vehicles and has offices in Paris, New York and Los Angeles. Since 1991, GEM has completed over 375 transactions across 70 countries. GEM's investment vehicles provide the group and its investors with a diversified portfolio of asset classes that span the global private investing spectrum. Each investment vehicle has a different degree of operational control, risk-adjusted return and liquidity profile. Our family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities (PIPEs) and select venture investments.
“The funds are intended to be utilized as working capital for our operations within our state-of-the-art extraction facility in California,” said CEO of Chemesis, Edgar Montero. “We believe this financing will allow us to capture greater market share by increasing our oil production, developing additional proprietary product formulations and expanding our distribution infrastructure throughout California. The Company sees tremendous growth potential within California, and believes it can expand to meet future demands.”
The securities to be issued under the Offering will be offered by way of private placement in each of the provinces of Canada and such other jurisdictions as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws.
The Offering is subject to the approval of the Canadian Securities Exchange and will close on or about March 1, 2019.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
On Behalf of The Board of Directors
Edgar Montero
CEO and Director
About Chemesis International Inc.
Chemesis International Inc. is a vertically integrated global leader in the cannabis industry, currently operating within California, Puerto Rico, and Colombia.
Chemesis is developing a strong foothold in key markets, from cultivation, to manufacturing, distribution and retail. Chemesis has facilities in both Puerto Rico and California, allowing for cost effective production and distribution of its products. In addition, Chemesis leverages exclusive brands and partnerships and uses the highest quality extraction methods to provide consumers with quality cannabis products.
Chemesis will add shareholder value by exploring opportunities in emerging markets while consistently delivering quality product to its consumers from seed to sale.
Investor Relations:
ir@chemesis.com
1 (604) 398-3378 |
