Chemistree Technology Inc. (CSE: CHM) (OTCQB: CHMJF) this morning announced that its wholly owned U.S. subsidiary, American CHM Investments Inc., has entered a letter of intent to partner with Applied Cannabis Sciences of New Jersey (“ACS”), a New Jersey-based medical retail dispensary applicant in the state’s upcoming round of request for applications, which is anticipated in 2020. ACS’s leadership team combines seasoned professionals from the legal medicinal and adult use marijuana industry with over 50 years of collective experience and includes over 20 cultivation, processing and manufacturing licenses across four U.S. states (Washington, Oregon, California and Colorado).
“We are excited about partnering with ACS, a highly experienced group recognized in the medical and recreational cannabis space that bring a track record of innovation and success. The potential to expand Chemistree’s presence outside of California and Washington state and ultimately introduce our signature brand Sugarleaf to the large New Jersey consumer base by partnering with ACS is consistent with our growth strategy,” Chemistree President Karl Kottmeier said in the news release. “New Jersey is home to over nine million people currently being served by only 12 cannabis operators in its medical program. New Jersey is a logical place for Chemistree to expand into and bring the Sugarleaf brand to the New Jersey market. I would like to specifically thank Nico Escondido, our newest board member for the introduction to this exciting opportunity and I am impressed with the significant impact he is already clearly having on our Company.”
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About Chemistree Technology Inc.
Chemistree Technology Inc. is an investment company dedicated to the U.S. cannabis sector, endeavoring to provide turn-key solutions for the regulated cannabis industry. The Company’s corporate strategy is to acquire and develop vertically integrated cannabis assets, leveraging management’s decades of expertise in the cannabis industry and corporate finance to own and operate licensed cultivation, processing, distribution and retail facilities. The Company currently owns assets in Washington State used to operate the Sugarleaf brand, prospective cannabis cultivation lands in California, a 50% interest in a Humboldt County, California cannabis processing company, has completed its first investment in the Canadian cannabis sector through its investment in Pasha Brands and has a pipeline of assets to grow its base of business. For more information, visit the company’s website at www.Chemistree.ca
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