Green Spirit Industries Is Majority Stakeholder in Sunset Connect Oakland, LLC
DORADO, Puerto Rico, June 26, 2018 (GLOBE NEWSWIRE) -- Green Spirit Industries Inc. (OTCQB:GSRX) (“Green Spirit” or, the “Company”) announced today that its subsidiary, Sunset Connect Oakland, LLC (“Sunset Connect”), in which it holds a majority stake, has taken important steps toward the commencement of operations of its cannabis cultivation business.
On May 3, 2018, the Company entered into an agreement to sublease 25,000 square feet of indoor cultivation and growing space in Oakland, California. The building is properly zoned for cannabis cultivation and other cannabis activities, including the manufacture and processing of cannabis products.
Currently, Sunset Connect is in the process of obtaining local authorization from the City of Oakland, has begun its building permit application process, and has begun the temporary licensing process with the state. Specifically, Sunset Connect has developed and submitted for approval architectural drawings for the space in which it plans to operate its cultivation business.
"We are excited to build a cultivation facility in the Bay Area, thanks to our joint venture with Green Spirit,” said Ali Jamalian, Sunset Connect CEO. “I can't wait to get started with my dream team of cultivators and breeders. James Paul Sipe and I have been working together for more than 10 years, and have a vault of rare genetics that we want to share."
Plans also call for Sunset Connect to be the primary source of raw materials for Spirulinex, LLC. The Company believes that its vertical supply chain will ensure full quality control in all aspects of production, from cultivation, to extraction and to processing.
Sunset Connect is an established San Francisco-centric cannabis brand respected amongst industry peers and popular with regional retailers. Sunset Connect produces top-shelf Indoor flowers and was known for a portfolio of branded extractions including crumble, shatter, wax and rosin.
Sunset Connect will continue to be managed by founder Ali Jamalian and James Paul Sipe, who currently lead the organization. Jamalian developed the cannabis industry brands Spirulinex, Aqua Tetra Highdrate and Sunset Connect. 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. James Paul Sipe is currently Lead Cultivator for Ermont, Inc. in Quincy, MA. He previously served as Lead Cultivator for William Noyes Webster Foundation, Inc. in Dennis, MA. He designed and ran cultivation operations at both companies, where he oversaw more than 30,000 square feet of cultivation at all stages of development for Compassionate Caregivers in California, managing a staff in excess of 50 employees engaged in all aspects of cultivation and processing.
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.
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