DORADO, Puerto Rico, Nov. 01, 2018 (GLOBE NEWSWIRE) -- GSRX Industries Inc. (OTCQB: GSRX) (“GSRX” or, the “Company”), announced today that, through its wholly-owned subsidiary, Pure and Natural CBDs, LLC, it intends to enter into the CBD retail market with a planned chain of GSRX-branded retail stores offering premium quality all-natural health and wellness Hemp CBD-based products. The Company is currently in the process of identifying potential locations for its first Pure and Natural CBDs retail store in the Austin, Texas area.
According to Hemp Business Journal, 2017 sales for the U.S. hemp industry were $820 million overall, with sales of hemp-derived CBD products contributing $190 million to that total (Hemp Business Journal). In a study released earlier this month by MJBizDaily (MJBiz Daily Report), U.S. Hemp-driven CBD retail sales are projected to exceed $3 billion by 2022. In an article published in Rolling Stone last month, a new estimate from cannabis industry analysts The Brightfield Group indicates the overall Hemp-CBD market could hit $22 billion by 2022 (Rolling Stone).
Through its proposed Pure and Natural CBDs stores, the Company plans to offer a broad selection of proprietary all-natural branded Pure and Natural CBDs Hemp CBD products in major product categories, including: oils; gummies; candies; edibles; sub-linguals; baked goods; topicals; pet care products; hair care; skin care; coffee and tea; vape products; bath and beauty products, and more.
About GSRX Industries Inc.
GSRX 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. Currently, GSRX operates five cannabis dispensaries in California and Puerto Rico, and has six additional pre-qualified locations in Puerto Rico, all of which are in various phases of development and construction.
Websites:
Green Spirit RX https://www.greenspiritrx.com/
Spirulinex https://www.spirulinex.com
Sunset Connect https://www.sunsetconnect.co
Instagram:
Spirulinex https://www.instagram.com/spirulinex/
Sunset Connect https://www.instagram.com/sunsetconnect/
The Green Room https://www.instagram.com/greenroommendo/
Facebook:
Green Spirit RX (Puerto Rico) https://www.facebook.com/Green-Spirit-Rx-746194692378429/
Spirulinex https://www.facebook.com/spirulinex/
The Green Room https://www.facebook.com/greenroommendo/
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