Chemesis International Inc. (CSE: CSI) (OTC: CADMF), a market leader in medicinal and recreational cannabis, is proud to announce the opening of its wholly owned subsidiary Chemesis Latin America. Through this subsidiary, the Company is exploring and completing advanced due diligence on opportunities for cultivation, production and export from the Latin American market. The Company believes it will be able to quickly gain market share in Latin America through the use of its networks and existing expertise.
Chemesis’ long-term growth strategy is focused on international expansion. Globally, regulation changes are occurring for both medical and recreational cannabis, and as these changes occur, Chemesis intends to be a first mover by leveraging its existing networks and developing brands suited for the Latin American. Mexico is a great example of these changes, as president-elect, Andrés Manuel López Obrador, who has the job of overseeing rule making and regulations around Mexico’s new marijuana law, unveiled a plan to change the country’s drug strategy in several big ways.
Colombia, another front-runner in the Latin American cannabis market is rapidly growing its capabilities. The government is hoping to grow up to 40.5 tons of cannabis per year, which would account for approximately 44% of the licenses issued globally. Colombia is estimated to capture as much as one-fifth of the global market, a value of $40 billion a year.
“Chemesis Latin America is a big step forward in our global growth strategy,” said CEO, Edgar Montero. “We believe Chemesis has a major advantage in this region, as the recent acquisition of Natural Ventures can be leveraged to quickly capitalize on upcoming opportunities. With progressive regulations, Latin America becomes a key market that will be a major part of our portfolio. The Company has positioned itself to take advantage of significant opportunities in both Mexico and Colombia. This allows Chemesis to execute on its ambitious growth strategy to identify opportunities that will build long-term shareholder value.
The company plans to announce the specific countries and jurisdictions where it will be operating in the near future.