VANCOUVER, British Columbia, Aug. 14, 2019 (GLOBE NEWSWIRE) — Chemesis International Inc. (CSE: CSI) (OTC: CADMF) (FRA: CWAA) (the “Company” or “Chemesis”), announces that it has signed Letters of Intent (“LOIs”) with 34 private liquor stores in British Columbia (B.C.) for distribution of its hemp-based chew products, pursuant to which Chemesis expects to begin distributing its products throughout the lower mainland and other densely populated areas of B.C. by early Q4 2019.
Chemesis anticipates strong demand in the Canadian market, as its tobacco-free, smokeless product is a healthier alternative to otherwise similar products that are currently available. A IBIS World's Cigarette & Tobacco Manufacturing research report published in November, 2018 estimates the market for such products at CAD $2 billion, with an annual growth rate of 8% from 2013-2018.
Opportunities outside of liquor stores will also be pursued as the company gears towards its Q4 2019 commercialization.
"These LOIs will provide great consumer access to our hemp-derived chew", stated Chemesis CEO, Edgar Montero. "As the brand and products continue to develop, the Company will look to replicate these type of distribution arrangements. We are excited to be able to offer the market a smoke-less, tobacco-free product which is a healthier alternative to otherwise similar products currently available."
Due to competitive nature of the market, the Company will not disclose who the LOIs have been signed with at this time.
On Behalf of The Board of Directors
CEO and Director
About Chemesis International Inc.