DORADO, Puerto Rico, July 12, 2018 (GLOBE NEWSWIRE) -- Green Spirit Industries Inc. (OTCQB:GSRX) (“Green Spirit” or the “Company”) today announced financial results for the second quarter ended June 30, 2018.
“We are very proud of the tremendous progress we made in the second quarter of 2018. This was our first full quarter of operations, with dispensaries in Dorado, Puerto Rico and Point Arena, CA," said Green Spirit CEO Les Ball, “We opened two other dispensaries, in and near San Juan, Puerto Rico, late in the quarter. In addition to these four dispensaries, we made tremendous progress at Sunset Connect, our cultivation operation in California, and at Spirulinex, our extraction and manufacturing operations in California. Both are moving forward with fullscale operations."
Second Quarter 2018 Highlights
Highlights Subsequent to Second Quarter 2018
Green Spirit CEO Les Ball continued, “By vertically integrating our business during the first half of 2018, from cultivation through extraction and manufacturing and all the way to serving consumers through dispensaries and delivery, we are building a cannabis company that is poised for success at every stage. We are well-positioned in both California and Puerto Rico to reap the benefits of both medicinal and adult use sales.”
Puerto Rico’s population stands at more than three million people; however, millions of tourists visit the island each year, and the territory’s reciprocating agreement with medical marijuana card holders from other U.S. states expands Puerto Rico’s potential consumer base significantly.
Looking Forward
For more information about Green Spirit, visit the Company’s website at http://www.greenspiritrx.com/.
About Green Spirit Industries Inc.
Green Spirit 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, Green Spirit 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 under construction with expected openings later this year. The Company expanded its California operations into the cultivation/growing, extraction/processing and cannabinoid manufacturing businesses during the first quarter of 2018 through joint ventures in which it holds majority stakes. These include Sunset Connect Oakland, LLC, a cannabis cultivation company which occupies 25,000 feet of indoor growing space in Oakland, CA, and in Green Spirit Essentials LLC and Spiruiinex, LLC, extraction and manufacturing companies in San Francisco that have developed a broad slate of cannabinoid ingestibles. Green Spirit Essentials and Spirulinex have robust patent portfolios, and continue to aggressively pursue protection for their innovations.
Forward-Looking Statements
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.
Contact:
Paul Gendreau
PGPR
paul@pgprmedia.com
678-807-7945