ACCESS Newswire
25 Nov 2020, 03:43 GMT+10
DORADO, PR / ACCESSWIRE / November 24, 2020 / GSRX Industries Inc. (OTC PINK:GSRX) ('GSRX' or, the 'Company'), announces that it's wholly-owned subsidiary Project 1493, LLC has sold all of its Puerto Rican cannabis assets, and assigned all related liabilities, licenses and permits, to Puerto Rico Industrial Commercial Holdings Biotech, Corp. in exchange for total aggregate consideration of US$4,643,333, comprised of immediate net cash proceeds to GSRX of US$2,243,333, and monthly payments to be received in the amount of US$100,000 over a period of 24 months.
The Company notes that the Puerto Rico Department of Health has approved these transactions.
About GSRX Industries Inc.
GSRX Industries Inc. (OTC PINK:GSRX), through its subsidiaries, is in the business of distribution, extraction and light manufacturing, and delivery of cannabis and cannabinoid products. GSRX also owns and operates the e-commerce site GetPureAndNatural.com, which offers a broad range of premium hemp extract products.
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, anticipated 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:
[email protected]
SOURCE: GSRX Industries Inc.
Get a daily dose of St Louis Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to St Louis Star.
More InformationLONDON, U.K.: American consumers and businesses could soon face the highest overall tariff burden in more than a century, according...
The family of Sayfollah Saif Musallet, a 20-year-old American citizen who was beaten to death by Israeli settlers in the occupied West...
CONCORD, New Hampshire: A federal judge in New Hampshire issued a crucial ruling on July 10 against President Donald Trump's executive...
DUBAI, U.A.E.: A cargo ship flagged under Liberia, known as the Eternity C, sank in the Red Sea following an attack executed by Yemen's...
WASHINGTON, D.C.: The Trump administration has started sending some weapons to Ukraine again, just a week after the Pentagon told officials...
ECAULT BEACH, France: On clear days, the white cliffs of the United Kingdom, are visible from northern France, where men, women, and...
SHENZHEN, China: As global chip competition intensifies, Huawei Technologies is exploring new markets in the Middle East and Southeast...
LONDON/NEW YORK CITY: American grocery bills may be headed higher as coffee and orange juice prices face upward pressure from new tariffs...
BATTLE CREEK, Michigan: In a major consolidation of iconic food brands, WK Kellogg has agreed to be acquired by the owner of Ferrero...
WASHINGTON, D.C.: Filmmaker Peter Jackson's lifelong fascination with the extinct giant New Zealand flightless bird called the moa...
NEW DELHI, India: India has submitted a revised proposal to the World Trade Organization (WTO) in Geneva to implement retaliatory tariffs...
SAN FRANCISCO, California: Nvidia, the Silicon Valley chipmaker at the heart of the artificial intelligence boom, this week briefly...