DORADO, Puerto Rico, June 18, 2018 (GLOBE NEWSWIRE) — Green Spirit Industries Inc. (OTCQB:GSRX) (“Green Spirit” or the “Company”), an operator of retail cannabis dispensaries which is in the process of expanding its business to include the cultivation, extraction, manufacture and delivery of cannabis and cannabinoid products, announced today that its stock commenced trading on the OTCQB Market (OTCQB) on June 13, after successfully uplisting from the OTC Pink Market.
The Company believes that the move to the OTCQB will provide enhanced investor benefits including higher reporting standards, greater access to analyst coverage and news services, and more comprehensive compliance requirements. The OTCQB is considered by the Securities and Exchange Commission (SEC) as an “established public market” for the purpose of determining the public market price when registering securities for resale with the SEC. The OTCQB dramatically increases transparency, reporting standards, management certification and compliance requirements, the majority of broker dealers trade stocks on the OTCQB. Historically this has resulted in greater liquidity and awareness for companies that reach the OTCQB tier.
“We anticipate that trading on the OTCQB will raise our visibility within the investment community and will help to broaden our shareholder base,” stated Les Ball, CEO of Green Spirit. “Uplisting to the OTCQB is a significant milestone for any company, as it provides shareholders and potential investors with greater transparency and liquidity, and exposes Green Spirit to institutional investors which, historically, do not invest in Pink Sheet companies.”
The OTCQB is a venture market designed for early-stage and developing US and international companies. To be eligible, companies must be current in their reporting and undergo an annual verification and management certification process. To learn more, visit OTCQB.
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/growing, extraction/processing and cannabinoid manufacturing businesses during the first quarter of 2018 through joint ventures in which it holds majority stakes.
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.