GSRX Industries Inc. Signs Lease in Palm Springs for Second California Adult-Use and Medicinal Cannabis Dispensary
DORADO, Puerto Rico, April 17, 2019 (GLOBE NEWSWIRE) -- GSRX Industries Inc. (OTCQB: GSRX) (“GSRX” or the “Company”) announced today that it has signed a long-term building lease in Palm Springs for what will be the Company’s second adult-use and medicinal cannabis dispensary in California. The Company currently owns and operates The Green Room in Point Arena, as well as several Green Spirit RX medicinal cannabis dispensaries in Puerto Rico, with two more slated to open there soon.
We are very excited to be launching our second Green Room dispensary in Palm Springs
said Les Ball, GSRX CEO.
GSRX’s newest cannabis dispensary will be located in a free-standing 4,500 square foot building that includes a private patio area and ample customer parking. The site is considered a prime retail location, where CA Highway 111 becomes N. Palm Canyon Drive, the main entrance to the City of Palm Springs from I-10 and Los Angeles. The building originally was home to Riccio’s, an Italian restaurant and favorite Palm Springs hangout for Frank Sinatra and his Rat Pack pals, who regularly held court in Booth #6. The site is close to The Riviera Resort and Spa Palm Springs, A Tribute Portfolio Resort, ARRIVE Palm Springs and Desert Regional Medical Center, and is minutes from Palm Springs’ city center, Palm Springs Spa Resort Casino, Palm Springs International Airport, and the countless other hotels and resorts for which Palm Springs is famous.
Once completed and fully licensed, GSRX’s newest dispensary will offer patients an extensive selection of cannabis products, including edibles and accessories.
GSRX Industries Inc. (OTCQB: GSRX), through its subsidiaries, is in the business of acquiring, developing and operating retail cannabis dispensaries and non-THC CBD retail stores. GSRX is also in the process of expanding its business to include distribution, lite manufacturing and delivery of cannabis and cannabinoid products. Currently, GSRX operates five cannabis dispensaries in Puerto Rico under the name Green Spirit RX, one dispensary in California under the name The Green Room, and has five additional pre-qualified locations in Puerto Rico, all of which are in various phases of development and construction. GSRX also owns and operates the e-commerce site GetPureAndNatural.com, which offers a broad range of Premium Hemp Extract CBD products.
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, anticipated 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.