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DORADO, Puerto Rico, April 03, 2019 (GLOBE NEWSWIRE) -- GSRX Industries Inc. (OTCQB: GSRX) (“GSRX” or, the “Company”) announced today that its wholly owned subsidiary, Green Spirit Mendocino LLC (“Green Spirit Mendocino”), has received their Provisional Adult-Use and Medicinal Retailer License from the California Bureau of Cannabis Control last Friday, March 29th. Green Spirit Mendocino LLC owns and operates The Green Room, an Adult-Use and Medicinal Retail Cannabis Dispensary in Point Arena.
Receipt of the Provisional License ensures ongoing operations at The Green Room, which has experienced a substantial rise in sales since its purchase by GSRX in April of 2018. The Company has completed its submission for the state retail storefront annual license which is now under final review. GSRX expects to receive the annual license within weeks.
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. (OTCQB: GSRX), through its subsidiaries, is in the business of acquiring, developing and operating retail cannabis dispensaries and non THC CBD retail stores. GSRX is also in the process of expanding its business to include distribution, lite 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 pharmaceutical grade CBD products.
The Green Room https://www.instagram.com/greenroommendo/
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.