The students and teachers were holding the daily flag ceremony at 7:30 a.m. when they reportedly inhaled airborne components of MOCAP chemicals sprayed in a nearby banana plantation owned by the Tagum Agriculture Development Corporation (TADECO).
TADECO uses Mocap or ethroprophos chemical as a ground fertilizer.
The victims were brought to the Carmen District Hospital in nearby Carmen town and at the TADECO Hospital.
TADECO management has owned responsibility over the incident. In a statement to reporters, TADECO said the situation was "under control" by 1 p.m. and that they are doing a 24-hour monitoring of the situation.
The company, however, denied that the chemical is poisonous, insisting that it only smells foul.
Police said the town's Municipal Disaster Coordinating Council has helped evacuate the students. The report did not mention if there were residents affected.