DORADO, Puerto Rico, April 23, 2019 (GLOBE
NEWSWIRE) -- Today, GSRX Industries Inc. (GSRX) (“GSRX†or the “Companyâ€) provided guidance
that the Company’s 2nd quarter sales have been stronger than
projected at its five owned-and-operated Green Spirit RX medicinal
cannabis dispensaries in Puerto Rico and at its owned-and-operated
Green Room dispensary in Point Arena, California.
Additionally, sales have been robust for the Company’s Pure and
Natural brand, non-THC CBD products, available online at
GetPureAndNatural.com and at the Company’s Pure and Natural retail
location in Tennessee.
GSRX’s average daily sales for the first three weeks of the 2nd quarter are approximately 27% higher than its average daily sales in the 1st quarter. Given such strong sales, management anticipates revenues of approximately $3.3 – $3.5 million for the 2nd quarter 2019.
“We continue to see strong demand across all of our U.S. operations and look forward to another quarter of record sales,†said GSRX Chief Executive Officer, Les Ball.
The Company recently announced financial results for the 4th quarter of 2018 and its full year 2018 results, reporting record revenues of $1.66 million for the quarter – an increase of 135% over the prior quarter. Additionally, the Company recently announced record 1st quarter revenues of $2.9 million (unaudited), with a rise in gross profit to 51.76%.
About GSRX Industries
Inc.
GSRX Industries Inc. (GSRX), through its subsidiaries, is in the
business of acquiring, developing, and operating retail cannabis
dispensaries and non-THC CBD retail stores. GSRX also is in
the process of expanding its business to include distribution,
extraction and light manufacturing, and delivery of cannabis and
cannabinoid products. Currently, GSRX operates five
cannabis dispensaries in Puerto Rico under the name Green Spirit
RX, one dispensary in California under the name The Green Room, and
has five additional pre-qualified locations in Puerto Rico, all of
which are in various phases of development and construction.
GSRX also owns and operates the e-commerce
site GetPureAndNatural.com, which offers a broad range of
premium hemp extract products.
Forward-Looking
Statements
This press release contains
forward-looking statements. Such statements include statements
regarding our expectations, hopes, beliefs, or intentions regarding
the future, including but not limited to statements regarding our
market, strategy, competition, development plans (including
acquisitions and expansion), financing, anticipated revenues,
operations, and compliance with applicable laws. Forward-looking
statements involve certain risks and uncertainties, and actual
results may differ materially from those discussed in any such
statement. Factors that could cause actual results to differ
materially from such forward-looking statements include the risks
described in greater detail in the following paragraphs. All
forward-looking statements in this document are made as of the date
hereof, based on information available to us as of the date hereof,
and we assume no obligation to update any forward-looking statement
except where applicable law requires us to update these statements.
Market data used throughout this prospectus is based on published
third party reports or the good faith estimates of management,
which estimates are based upon their review of internal surveys,
independent industry publications and other publicly available
information.
Contact:
Paul Gendreau
PGPR
[email protected]
678-807-7945