Green Spirit Industries Inc. Begins Construction on Second of Five Planned Medical Cannabis Dispensaries in Puerto Rico

Dispensary in Carolina Municipality Projected to Open October 15, 2017

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SAN JUAN, Puerto Rico, Aug. 31, 2017 (GLOBE NEWSWIRE) -- Green Spirit Industries Inc. (OTC Pink:GSRX) (“Green Spirit” or, the “Company”) through its wholly-owned subsidiary, Project 1493 LLC, has announced today that it has commenced construction on its second of five planned medical cannabis dispensary locations in Puerto Rico.  Located in the Carolina municipality on Puerto Rico’s northeast coast, this location is one of four for which the Company has received pre-qualification for a dispensary license from the Department of Health of Puerto Rico (Green Spirit Completes Acquisition of Four Pre-Qualified Medical Marijuana Dispensary Applications).  Carolina is located just east of San Juan and Trujillo Alto, and is home to Puerto Rico’s main airport, the Luis Muñoz Marin International Airport.  The Company anticipates construction to be completed at its Carolina location by October 15, 2017.

As previously announced, Green Spirit has submitted its application to obtain pre-qualification for a dispensary license at its fifth location in Puerto Rico (Green Spirit Signs Lease and Submits Application).  Once construction at each location is completed and passes inspection by the Department of Health of Puerto Rico, the requisite operating permit is issued.

“With two locations currently under construction and projected to open in mid-October, we are well on our way to establishing Green Spirit as a provider of quality medical cannabis products to patients in Puerto Rico who have already come to rely on the healing and pain-relieving properties of this natural medication,” said Les Ball, CEO of Green Spirit.  “Our goal is to become Puerto Rico’s largest and most trusted source for medical cannabis, and with five locations already in various stages of planning and development, a seasoned and respected management team in place, and the funding necessary to proceed, that goal seems well within reach.”

Adding to the potential of the island territory, Green Spirit points to Puerto Rico’s medical cannabis laws, which allow visitors to the island who have been issued medical cannabis recommendations within their home state to access cannabis through the island’s licensed dispensaries.  According to the Puerto Rico Tourism Company (Puerto Rico Tourism Statistics), the island anticipates visitors for 2016 to total more than 11.5 million, including 10 million airline and 1.5 million cruise ship passengers, and is currently the number one home port confirmed for cruise ships in the Caribbean. 

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 marijuana 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.

Contact:         
                        
Paul Gendreau
PGPR
paul@pgprmedia.com
678-807-7945

GlobeNewswire
August 31, 2017 - 7:05 AM EDT


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