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DORADO, Puerto Rico, July 25, 2018 (GLOBE NEWSWIRE) -- GSRX Industries Inc. (OTCQB:GSRX) (“GSRX” or the “Company”) today announced that it has retained Blue Water Fund of Austin, Texas to act as its exclusive real estate broker as part of the Company’s plan to expand its operations and to build up its portfolio of retail cannabis dispensaries nationally. Blue Water Fund will represent the Company in identifying and/or assisting in the acquisition or lease of real property, including but not limited to, existing cannabis dispensaries and sites for the development of new cannabis dispensaries, as well as sites for establishing new manufacturing, cultivation and/or processing facilities.
“Following our acquisition of The Green Room cannabis dispensary and the building it occupies earlier this year, as well as the success we have experienced in its operation, along with multiple dispensaries in Puerto Rico, we are actively pursuing similar opportunities throughout California and the U.S.,” said GSRX CEO Les Ball. “Under our ownership and management, sales at the Green Room have grown tremendously, and it is clear to us that expanding our network of professionally-managed dispensaries is an appropriate next step in our growth plan.”
GSRX recently reported financial results for the second quarter, citing an increase in sales at its dispensary in Point Arena, California (Sales More Than Double at The Green Room), under the Company’s ownership and management. The Company anticipates further growth during the third and fourth quarters of 2018.
“We look forward to working with Deacon Shields and his team at Blue Water Fund in helping us identify and negotiate the purchases of existing properties where we believe we can increase profitability, as well as other sites where we can establish dispensaries and build-out our cultivation, processing and/or manufacturing operations,” added Ball.
Blue Water Fund began in 1998 in Austin, TX with the development of a small office building and has since grown into a firm that has been integral in the development of more than 750,000 square feet of retail, industrial and multi-family properties. Blue Water Fund is currently developing retail and multi-family properties in the Austin, Houston, and Dallas markets, as well as industrial sites in Colorado and Michigan.
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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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.