Investors See Green in Budding Marijuana Industry

The North American Marijuana Index is up a whopping 63.5% over the past 12 months. In comparison, the small-cap Russell 2000 index is up 14.8% over the same period.

While the Marijuana Index is down from its peak last November, mostly due to fears of a change in the Obama administration’s hands-off policy, recent news should give the industry a solid boost in the weeks and months ahead.

The AP reported over the weekend that AG Sessions’ hand-picked task force “has come up with no new policy recommendations to advance the attorney general’s aggressively anti-marijuana views.”

Combined with growing bipartisan support in Congress and the outright success of forward-thinking states that are seeing the industry fund schools and other beneficial programs, marijuana stocks look poised to see another wave of capital inflows from the investment community.

More than two dozen states have passed some form of marijuana legalization, and the pace of conversion from medical marijuana to recreational marijuana is picking up steam.

One of the most recent entrants into the medical marijuana field is Puerto Rico. The economically embattled U.S. territory hopes to generate millions in revenue and produce tens of thousands of jobs to help ease its crisis.

We’ve identified one company on the island poised to become an industry leader, both in Puerto Rico and likely beyond, Green Spirit Industries (OTC: GSRX).

GSRX went public earlier this year, raising gross proceeds of $3.3 million in the process.

The Company is hitting the ground running by acquiring four pre-qualified medical marijuana licenses and one pending license. Commenting on the opportunity, CEO Les Ball stated, “We believe that the legalization of medical marijuana here is welcome news for the Puerto Rican people who are now able to benefit from its use in treatment, and we are pleased to be one of the first and largest providers here.”

In a recent interview addressing the Company’s marketplace entry and overall growth potential, Ball stressed GSRX’s focus on strong and experienced business practices, along with conservative projections and high margins.

Prior to taking the helm at GSRX, Ball served as CEO and President of Corral West Ranchwear, where he guided the company in becoming one of the largest retailers of western and workware in the U.S., with 140 retails stores nationally. Previously, at Montgomery Ward Corporation, he served as President of Softgoods and Foreign Offices, as well as Executive Vice President, a role in which he directed the company's apparel business. 

Most notably, Ball served for 22 years in various capacities at R.H. Macy, Inc. There, he was President of Macy's East, President of Macy's Wholesale, President of Macy's South, and Chairman and Chief Executive Officer of Macy's Midwest. 

This level of executive experience sets GSRX apart from the many poorly-funded “mom and pop” shops that have sprung up throughout states where marijuana has been legalized.

Puerto Rico itself also provides GSRX with significant advantages compared to other markets in the U.S. There is an estimated $300 million to $500 million black market for marijuana on the island. With a population of 3.5 million residents and an estimated 10 million tourists visiting the island each year, the potential upside is massive.

While GSRX is beginning operations in Puerto Rico, the Company’s long-term strategy is to build a vertically-integrated operation with multiple revenue streams.

“We have a plan to both organically grow and make acquisitions as appropriate, both on the dispensary side and on the grow side, as well as in the manufacturing of the various products (which include edibles, oils, pills, etc.)”, commented Ball.

We believe GSRX has all the right ingredients to become a potential home-run for early investors. Learn more about this exciting opportunity by watching our recent interview with Ball:




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Green Spirit Industries (OTC: GSRX) is a client of RedChip Companies. RedChip Companies, Inc. owns one million shares of GSRX.

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