Green Spirit Industries Inc. Acquires Cannabis Dispensary and Delivery Operation in Mendocino County, California

DORADO, Puerto Rico, April 05, 2018 (GLOBE NEWSWIRE) — Green Spirit Industries Inc. (OTCPink:GSRX) (“Green Spirit” or, the “Company”) announced today that it has acquired The Green Room, a cannabis dispensary business located at 138 Main Street in Point Arena, Mendocino County, California.  The business is licensed under the name Green Spirit Mendocino, LLC, and will continue to do business as The Green Room.
“Green Spirit has now commenced day-to-day operations on the ground in two marketplaces ripe with opportunity – Puerto Rico and California,” said Les Ball, CEO of Green Spirit.  “Our first of several planned Green Spirit RX medicinal cannabis dispensaries in Puerto Rico is open and operating in Dorado.  Now, with our acquisition of The Green Room completed, Green Spirit’s entry into California’s medicinal and recreational cannabis marketplace is a key factor in our expansion initiative to establish a major presence in California’s exploding cannabis business.”According to a state-sponsored study published in the Los Angeles Times in June of 2017 by the University of California Agricultural Issues Center (Legal marijuana could be a $5-billion boon to California’s economy), existing medical cannabis sales were $2 billion per year (approximately 25% of total cannabis sales), with the rest representing sales in the illegal market of approximately $5.7 billion.  The study also suggested that beginning in 2018, the state’s tourism industry is expected to boom as visitors pour in from other states and countries that do not allow the sale and use of cannabis, citing estimated sales of $7.2 billion a year of wine to tourists visiting California.During the first quarter of 2018, Green Spirit announced its entry into California’s cultivation and extraction business via a joint venture with Sunset Connect SF Inc. (Sunset Connect Joint Venture), as well as its acquisition of a majority stake in California-based cannabinoid products manufacturer

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