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DORADO, Puerto Rico, Aug. 30, 2018 (GLOBE NEWSWIRE) -- GSRX Industries Inc. (OTCQB: GSRX) (“GSRX” or the “Company”) announced today that its wholly-owned subsidiary, Green Spirit Mendocino, LLC, d/b/a The Green Room, a medicinal and adult-use cannabis retailer in Point Arena, California (“The Green Room”), has successfully filed for its annual State cannabis retailers license application ahead of schedule and is rapidly moving through the final phase of approval with the Bureau of Cannabis Control (BCC). However, no assurance can be given that its application will be approved. Pending final approval of the annual license, the BCC has issued The Green Room an extension to its retailer license, permitting both medicinal and recreational sales directly to consumers.
As part of the annual application process, The Green Room submitted detailed compliance protocols and operating procedures covering the regulatory mandates currently required to run a compliant retail operation with delivery services. This continues a pattern of professional execution for the Company as it prepares to meet an unprecedented increase in consumer and patient demand for safe, compliant and accessible high quality cannabis and cannabis products.
The demand is being met by The Green Room, as evidenced by the record increase in sales since acquiring the dispensary in late spring. The Company recently reported average daily sales during the second quarter increased 161%, as compared to average daily sales during the first quarter of 2018 (Green Room Sales Increase).
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.
Green Spirit RX (Puerto Rico) https://www.facebook.com/Green-Spirit-Rx-746194692378429/
The Green Room https://www.facebook.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, 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.