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DORADO, Puerto Rico, Aug. 09, 2018 (GLOBE NEWSWIRE) -- GSRX Industries Inc. (OTCQB: GSRX) (“GSRX” or the “Company”) announced today that construction is now complete at its newest Green Spirit RX pre-qualified medicinal cannabis dispensary location in Puerto Rico. Once the new dispensary passes inspection and the DHPR issues the requisite Occupational License for Establishment, the Company will be ready to begin operations.
The newest Green Spirit RX medicinal cannabis dispensary is located at Bo. Quebrada de Fajardo, Carr. #3 Km. 44.9. At nearly 5,000 square feet, GSRX’s Fajardo dispensary will be one of the island’s largest.
An oceanside community, Fajardo is home to the largest marina in the Caribbean, Puerto del Rey, which is a hub for the majority of Puerto Rico’s recreational boating and a popular launching port for nearby islands Vieques, Culebra, and the U.S. and British Virgin Islands. Fajardo is popular among tourists, and its beaches are bounded by calm, clear waters ideal for snorkeling. It is also home to one of the few bioluminescent lagoons in the world, with nightly kayak trips offered by local companies who give educational tours. Fajardo is also home to the Waldorf Astoria’s world-class spa and resort, the El Conquistador.
There are currently three Green Spirit RX locations operating in Puerto Rico – in Dorado, Carolina, and Hato Rey, the most heavily populated district of San Juan. The Company has four pre-qualified locations, in addition to the Fajardo dispensary, that are currently under construction or near completion. Those are located in Isla Verde, San Juan, Bayamón, and Old San Juan. GSRX also recently received pre-qualified licenses for cannabis manufacturing and transportation, which allows for at-home patient delivery, in Puerto Rico. The Company also owns and operates The Green Room, a cannabis dispensary in Point Arena, California.
GSRX recently announced financial results for second quarter 2018, which cited record revenue for the Company (GSRX 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 five 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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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.