Refined Energy Corp. — Capital/Financing Update 2021

Jan 20, 2021

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CHEMESIS INTERNATIONAL INC. ANNOUNCES CLOSING OF CDN $1,200,000 PRIVATE PLACEMENT AND SETTLEMENT OF DEBT

January 19, 2021

Vancouver, BC – Chemesis International Inc. (the “ Company ”) (CSE: CSI) (OTC: CADMF) (FRA: CWAA), is pleased to announce that it has closed a non-brokered private placement (the “ Private Placement) of 3,687,419 units (“ Units ”) at a price of USD $0.255 (CAD $0.325) per Unit for gross proceeds of CAD $1,200,000. Each Unit is comprised of one common share and one common share purchase warrant (the “ Warrants ”). Each Warrant is exercisable for one common share at a price of USD $0.34 for a period of 24 months. The proceeds of the Private Placement will be used by the Company for general ongoing working capital and to have cash on hand to fund potential future acquisition opportunities.

The Company also announces that it has entered into debt settlement agreements with certain convertible debenture holders and other creditors, pursuant to which it has discharged an aggregate total indebtedness of CDN $1,289,848, (the " Debt Settlements ") on the following bases:

• CDN $619,723 in convertible debt for services rendered through the issuance of an aggregate total of 1,912,106 common shares of the Company at a deemed price of USD $0.255 (CAD $0.325) per common share to certain creditors of the Company.

• USD $21,949.91 in debt for services rendered through the issuance of 33,257 common shares of the Company at a deemed price of USD $0.66 per common share owed to a creditor of the Company.

• USD $648,175.44 in debt for services rendered through the issuance of 939,385 common shares of the Company at a deemed price of USD $0.69 per common share owed to a creditor of the Company.

The securities issued pursuant to the Private Placement and Debt Settlements are subject to a four month hold period from the date of issuance.

On Behalf of The Board of Directors Josh Rosenberg President

Investor Relations:

ir@chemesis.com 1 (604) 398-3378

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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, to further market its VICKI solutions, or to better enhance shareholder value through the marketing of its VICKI solutions and its ability to obtain licenses in additional jurisdictions. 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 including, among other things, the risks that the Company may not be able to further market its VICKI solutions, that focussing greater resources and attention to the marketing of the VICKI solutions may not better enhance shareholder value, and that the Company's products and plans will vary significantly as a result. 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.

The CSE has not reviewed, approved or disapproved the content of this press release

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