DORADO, Puerto Rico, July 03, 2018 (GLOBE NEWSWIRE) -- Green Spirit Industries Inc. (OTCQB:GSRX) (“Green Spirit” or, the “Company”) announced today that its majority-owned subsidiary, Spirulinex, LLC (“Spirulinex”), has taken important steps toward the commencement of operations of its cannabinoid products manufacturing business.
Spirulinex has entered into a lease agreement for its headquarters in San Francisco’s Green Zone, has received temporary local permit and state license, and is currently developing the 4500 sq. ft. space.
"We are in the final stages of preparation leading up to start of operations,” said Dr. Sarah Rodriguez, Chief Scientist for Spirulinex. “Thanks to our joint venture with Green Spirit, Spirulinex has already purchased the state-of-the-art equipment we’ll use to get operations underway soon, and we are looking forward to starting production."
When fully operational, Spirulinex will extract and process concentrates using non-volatile methods, then process and formulate a variety of consumer products. Spirulinex has developed an all-natural proprietary method of suspending cannabinoids in water to create aqueous solutions, thereby eliminating the need for oils, butter or synthetic lipids, and will offer products in which cannabinoids are scientifically dosed for consistency and quality assurance. Spirulinex has a robust patent portfolio, and continues to aggressively pursue protection for its innovations.
Spirulinex has developed a slate of cannabinoid ingestibles that include drinkable vials, gummies and other edibles, a topical gel, sublingual dissolvables and its proprietary sublingual product DragonGlass Flake and Bake™.
Spirulinex will be managed by founders Ali Jamalian and Dr. Sarah Rodriguez, PhD.
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, extraction/processing and cannabinoid manufacturing businesses during the first quarter of 2018 through joint ventures in which it holds majority stakes.
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.
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