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DORADO, Puerto Rico, July 26, 2018 (GLOBE NEWSWIRE) -- GSRX Industries Inc. (OTCQB:GSRX) (“GSRX” or the “Company”), through its wholly-owned subsidiary, Andalucia LLC, announced that it has acquired two properties located in San Juan, Puerto Rico as part of the Company’s plan to expand its operations and to build up its portfolio of retail cannabis dispensaries and cannabis investment properties nationally.
“Based on early success at our three Green Spirit RX dispensaries operating in Puerto Rico, and our plans to grow our network of dispensaries as well as potential cannabis distribution and manufacturing operations, we have actively sought out and made strategic real estate acquisitions on the island,” said GSRX CEO Les Ball. “We have made our intention to become Puerto Rico’s premier purveyor of medicinal cannabis clear from the outset, and we believe these cannabis investment properties will be key to helping us reach that goal.”
Completed during the second quarter of 2018, the Company purchased real estate property consisting of approximately 525 meters of land with a building located thereon, and also purchased the adjacent property, consisting of approximately 423 square meters of land with a parking lot located thereon. The building is currently leased by a third-party for the operation of a medicinal cannabis dispensary, and is considered to be one of Puerto Rico’s top-grossing dispensaries.
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.
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Green Spirit RX (Puerto Rico) https://www.instagram.com/greenspiritrx/
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.