GSRX Industries Inc. Completes Construction of 7th Medicinal Cannabis Dispensary in Puerto Rico

GlobeNewswire - finance.yahoo.com Posted 5 years ago

New Green Spirit RX Dispensary Located in Guaynabo

DORADO, Puerto Rico, March 06, 2019 (GLOBE NEWSWIRE) -- GSRX Industries Inc. (GSRX) (“GSRX” or the “Company”) announced today that, through its wholly-owned subsidiary, Project 1493 LLC, the Company has completed construction of its seventh Green Spirit RX medicinal cannabis dispensary in Puerto Rico.  Located in metropolitan San Juan’s Guaynabo municipality, this is the newest location for which the Company has received pre-qualification for a dispensary license from the Department of Health of Puerto Rico.  Operations at the Guaynabo location will commence following final inspection and receipt of the requisite operating permit from the DHPR.

Currently, there are five Green Spirit RX medicinal cannabis dispensaries open in Puerto Rico, with locations in Dorado, Carolina, Fajardo, Andalucia and San Juan’s Hato Rey neighborhood.  The Company has additional locations currently under development/construction in Isla Verde, Bayamón and Old San Juan.

Green Spirit’s newest Green Spirit RX dispensary is located at Urbanización Muñoz Rivera, Calle Acuarela C-15 (local A), Guaynabo, Puerto Rico, 00969. Guaynabo is located on Puerto Rico’s northern coast, west of San Juan, and is considered part of the San Juan metropolitan area. Guaynabo is the host city for a number of Puerto Rico’s annual festivals, including the Three Reyes Festival in January and Mabó Carnival in March.  Approximately 100,000 people reside throughout Guaynabo’s ten wards and it is home to San Patricio Plaza, the three-level enclosed shopping mall that boasts more than 120 shops.  Renowned rum distillery Casa Bacardí, a popular tourist attraction, is located in Guaynabo, as are La Marquesa Forest Park, Caparra Archaeological Site and nearby Isla de Cabras.

Like the Company’s other locations throughout Puerto Rico, GSRX’s Guaynabo dispensary will offer patients an extensive selection of medicinal cannabis.  Importantly, the island's cannabis law includes a reciprocity policy that allows dispensaries to serve patients who are visiting for business or pleasure and who hold a medical cannabis card from their home state. 

GSRX recently announced that it has adjusted its 1st quarter guidance upwards, citing stronger than anticipated sales across the Company’s dispensaries (GSRX Raises First Quarter Guidance).

About GSRX Industries Inc. GSRX Industries Inc. (GSRX), through its subsidiaries, is in the business of acquiring, developing and operating retail cannabis dispensaries, and is in the process of expanding its business to include the cultivation, extraction, manufacture 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 pharmaceutical grade CBD products.
               
Websites:                                                                                                                                                                           
Green Spirit RX  https://www.greenspiritrx.com/                 
Spirulinex  https://www.spirulinex.com                                                                                                        
Get Pure and Natural  GetPureandNatural.com

Instagram:
Spirulinex  https://www.instagram.com/spirulinex/
The Green Room  https://www.instagram.com/greenroommendo/

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Facebook:
Green Spirit RX (Puerto Rico)  httphttps://www.facebook.com/GreenSpiritRx
Spirulinex  https://www.facebook.com/spirulinex/
The Green Room  https://www.facebook.com/greenroommendo/

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


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