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Green Spirit Acquires Majority of Cannabinoid Product Manufacturer

March 21, 2018

 

SAN FRANCISCO, March 21, 2018 (GLOBE NEWSWIRE) -- Green Spirit Industries Inc. (OTC:GSRX) (“Green Spirit” or, the “Company”) announced today that it has acquired a majority stake in the California-based cannabinoid manufacturing company Spirulinex, LLC (“Spirulinex”). Spirulinex has developed a slate of cannabinoid ingestibles that include drinkable vials, gummies and other edibles, as well as the Company’s proprietary sublingual flakes product DragonGlass Flake and Bake™. 

 

“With our majority stake in Spirulinex, Green Spirit has now added a major link of the rapidly growing cannabis product supply chain to the Company’s portfolio of businesses,” said CEO Les Ball. “We anticipate tremendous synergy between Spirulinex and our previously announced Sunset Connect Oakland LLC joint venture (Sunset Connect Joint Venture) which will cultivate, grow and extract, while Spirulinex creates a wide variety of end-user products.”

Spirulinex has developed an all-natural proprietary (patent-pending) 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 will continue to be managed by founders Ali Jamalian and Dr. Sarah Rodriguez, PhD. A former creative director who has championed brands that include Chivas, Pantene, Colgate and Harrod’s, among others, Jamalian brings a deep understanding of branding and marketing to the burgeoning cannabis industry, and he developed the industry brands Aqua Tetra Highdrate and Sunset Connect™. Dr. Rodriguez, Spirulinex’s Chief Scientist, is a leading researcher with experience in strain development and metabolic engineering for terpene production, restructuring of carbon metabolic fluxes, cellular metabolic analysis, bio-separation, and fermentation engineering. She holds a PhD from the University of California at Berkeley.

 

About Green Spirit Industries Inc.


Green Spirit Industries Inc. (OTC Pink:GSRX), together with its subsidiaries, is in the business of acquiring, developing and operating cannabis dispensaries.

 

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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