Green Spirit Industries Inc. Accelerates Post-Maria Construction on Three Pre-Approved Medical Marijuana Dispensaries in Puerto
2017-10-20T12:05:02Z Email
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Green Spirit Industries Inc. Accelerates Post-Maria Construction on Three
Pre-Approved Medical Marijuana Dispensaries in Puerto Rico
Company Focused on Helping to Meet Island’s Patient Demand in the Face of
Challenges Imposed by Difficult Recovery
SAN JUAN, Puerto Rico, Oct. 20, 2017 (GLOBE NEWSWIRE) -- Green Spirit
Industries Inc. (OTC Pink:GSRX) (“Green Spirit” or, the “Company”) announced
today that the Company has accelerated its efforts surrounding construction of
three pre-approved medical cannabis dispensaries in Puerto Rico, and has
brought in additional workforce to help ready the locations in Dorado,
Carolina and San Juan for inspection and subsequent opening, before year end.
“Where we don’t have electricity right now, we have generators powering
operations, and we have brought in additional people to get us ready to begin
operations as soon as possible,” said Les Ball, CEO of Green Spirit.
“Patients in Puerto Rico who have come to depend upon medical marijuana,
especially those for whom it replaces pharmaceuticals, need safe and
dependable dispensaries that are conveniently located, and it is our aim to
help fill the need as quickly as possible.”
For the first two weeks following the storm, only four of the island’s 29
dispensaries were open and filling descriptions. That number has increased
recently; however, some of Puerto Rico’s limited number of licensed
dispensaries are still not operational. In other sectors, business is
returning to a more normal level, with the Gobierno de Puerto Rico’s most
recent update (PR Recovery Status by Sector) on October 18 indicating that
nearly one month after the storm, 61% of telecommunications services are now
operational, 90% of supermarkets are again open as are 79% of the island’s gas
stations. All of Puerto Rico’s ports are open and operational, 65% of bank
branches have reopened, and more than 800 ATMs are operating.
Adding Green Spirit dispensaries to the medical marijuana landscape in Puerto
Rico, in addition to serving patient needs, will contribute to the island’s
overall financial recovery as well. “We were expecting a lot from this
industry,” said Ingrid Schmidt, the president of the Puerto Rico Medical
Cannabis Association. “It’s the only industry that was creating jobs and a
lot of hope was put into this industry because it was critical to the
financial circumstance that our island is going through.”
Prior to the storm, patients with a medical marijuana card could only pick up
their prescriptions from the single dispensary that they were initially
assigned to, but that rule has undergone a temporary change. Following
Hurricane Maria, the Departamento de Salud de Puerto Rico has issued an
emergency order allowing authorized medical cannabis patients to obtain
treatment at other dispensaries that are in operation. The new rule is slated
to last until two weeks after the state of emergency has ended or until the
Departamento board decides to terminate it.
About Green Spirit Industries Inc.
Green Spirit Industries Inc. (OTC Pink:GSRX), together with its wholly-owned
subsidiary, Project 1493, LLC, is in the business of acquiring, developing and
operating medical cannabis dispensaries.
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.
