DORADO, Puerto Rico, Aug. 01, 2018 (GLOBE NEWSWIRE) -- GSRX Industries Inc. (OTCQB: GSRX) (“GSRX” or, the
“Company”), through its wholly-owned subsidiary, Project 1493 LLC, announced today that it has received pre-qualification and
preliminary approval for a medicinal cannabis manufacturing license in Puerto Rico, in addition to the eight dispensary
pre-qualifications it has received to date. Of its pre-qualified dispensary locations, Green Spirit RX dispensaries are
currently operating in Dorado, Carolina, and San Juan (Hato Rey), with five locations in various stages of development and
construction in Fajardo, Isla Verde, San Juan (Andalucia), Bayamón, and Old San Juan.
The pre-qualified manufacturing license allows GSRX to develop and build a cannabinoid-based production business
in Puerto Rico. GSRX is already involved in cannabinoid-based product manufacturing in California via its Green Spirit
Essentials, LLC and Spirulinex, LLC subsidiaries, and anticipates benefits from expanding its manufacturing operations in Puerto
Rico. Start of production in Puerto Rico is dependent upon numerous factors, and will begin only after the business undergoes
requisite inspections and is issued all requisite permits and licensing.
GSRX is a majority stakeholder in two California-based companies, Green Spirit Essentials, LLC and Spirulinex,
LLC, which engage in the extraction and manufacture of concentrates using non-volatile methods, as well as the processing and
formulation of a variety of consumer products. Spirulinex has developed an all-natural proprietary method of suspending
cannabinoids in water to create aqueous solutions, thereby eliminating the need for oils, butter or synthetic lipids, and will
offer products in which cannabinoids are scientifically dosed for consistency and quality assurance. Spirulinex has a robust patent
portfolio, and continues to aggressively pursue protection for its innovations.
Importantly, Puerto Rico’s cannabis law includes a reciprocity policy that allows dispensaries to serve patients
who are visiting for business or pleasure, who hold a medical cannabis card from their home state. GSRX recently announced
financial results for second quarter 2018, which cited record revenue for the Company (GXRS Second Quarter Financial Results).
About GSRX Industries Inc.
GSRX Industries Inc. (OTCQB: 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. To date, GSRX has acquired and operates four cannabis dispensaries in
California and Puerto Rico, and has acquired four additional pre-qualified locations in Puerto Rico, all of which are currently
under construction and expected to open later this year.
Follow us on Instagram:
Green Spirit RX (Puerto Rico) https://www.instagram.com/greenspiritrx/
Spirulinex https://www.instagram.com/spirulinex/
Sunset Connect https://www.instagram.com/explore/tags/sunsetconnect/
Green Spirit Essentials https://www.instagram.com/explore/tags/greenspiritessentials/
The Green Room https://www.instagram.com/explore/locations/504270803090625/the-green-room/
Follow us on Facebook:
Green Spirit RX (Puerto Rico) https://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, 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
paul@pgprmedia.com
678-807-7945
