Chemesis secures $4,000,000 USD minimum purchase order to manufacture & distribute Happy Teas expanding product catalogue
VANCOUVER, British Columbia, July 15, 2019 (GLOBE NEWSWIRE) -- Chemesis International Inc. (CSE: CSI) (OTC: CADMF) (FRA: CWAA) (the “Company” or “Chemesis”), announces a Partnership with U.S. based Happy Tea, a brand of CBD infused sachets and shots. This Partnership allows Happy Tea to expand its product offering and realize cost savings by leveraging Chemesis’ extraction, finished goods manufacturing and retail distribution.
Happy Tea currently offers 3 products including powdered drink mixes and flavoured oil shots that are comprised of a blend of all-natural ingredients, antioxidants and are infused with 10mg of CBD. Consumers can purchase these products individually or subscribe to monthly deliveries, which are shipped via the company’s e-commerce sales channels across the United States. Happy Tea will leverage Chemesis’ multi-state operations to increase production capabilities and create retail brick and mortar exposure through the Companies distribution.
Chemesis will assist Happy Tea in expanding its current 3 SKU’s to an expanded product line of 9 SKU’s. The Company will manufacture Happy Tea products in its U.S. based facilities and will increase production as demand rises. As per the Partnership, Chemesis received a $4,000,000 USD minimum purchase order to manufacture products, as demand rises and Happy Tea expands its product catalogue, additional contracts will be added to ensure sufficient supply.
"The production and development capabilities of Chemesis fits in-line with what we’re are always striving to accomplish,” said Jarrod Swanger, COO of Happy Tea. “Every CBD company on the block along with their manufacturers are making creams and drops. We are the only two entities striving to redefine delivery. With their capacity and capability and our branding we will own the CBD market."
“We are extremely pleased to be working with Happy Tea, a developed brand that is currently in a high-growth phase,” said CEO, Edgar Montero. “Happy Tea’s products and vision are something the Company believes in and excited to be supporting its long-term growth. Both Companies are exploring other strategic ways of working together to create mutual synergies that are beneficial to all stakeholders. Chemesis’ will continue its efforts in creating lasting partnerships that bring strong revenues and continued progression.”
On Behalf of The Board of Directors
CEO and Director
About Happy Tea
Happy Tea is leveraging management's relationships with top global influencers, ambassadors, and distribution partners in creating one of the most exciting CBD brands. Happy Tea has grown its online reach to over 60,000 Instagram followers in just six months and is receiving approximately 2 million impressions per day and growing. Happy Tea is in an aggressive growth phase with a clear sales strategy on online digital marketing sales, retail, and international sales. The management team is leveraging past experience from just exiting a $20m USD revenue per year weight loss tea company in creating a leading CBD tea company in Happy Tea.
About Chemesis International Inc.
Chemesis International Inc. is a vertically integrated U.S. Multi-State operator with International operations in Puerto Rico, and Colombia.
The Company focuses on prudent capital allocation to ensure it maintains a first mover advantage as it enters new markets and is committed to differentiate itself by deploying resources in markets with major opportunities. The Company operates a portfolio of brands which cater to a wide community of cannabis consumers, with focus on quality and consistency.
Chemesis has facilities in both Puerto Rico and California, and is in the process of constructing a GMP certified facility in Colombia. Chemesis’ Puerto Rico operations are licensed to operate 100,000 ft2 of cultivation, and 35,000 ft2 of manufacturing floor space. The Company is positioned to win additional licenses in highly competitive merit-based US states, and will expand its footprint to ensure it maintains a first mover advantage.
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Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable securities laws relating to statements regarding the Company's business, products and future of the Company’s business, its product offerings and plans for sales and marketing, including finalizing an acquisition in Colombia. 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 depending on, among other things, the risks that the Company's products and plan will vary from those stated in this news release and the Company may not be able to carry out its business plans as expected. 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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