GSRX Industries Inc., through its wholly-owned subsidiary, Project 1493 LLC, announced it has entered into a Final Asset Purchase Agreement with Dispensarios 420, LLC to acquire the fully-licensed Dispensario 420 medicinal cannabis dispensary in Caguas.
The company anticipates completion of the purchase during the third quarter, as well as rebranding/renaming the dispensary Green Spirit RX. The financial terms of the deal were undisclosed.
There are currently three Green Spirit RX locations operating in Puerto Rico – in Dorado, Carolina, and Hato Rey. The company has five pre-qualified locations that are currently under construction or near completion in Fajardo, Isla Verde, San Juan, Bayamón, and Old San Juan. All are expected to open later this year, the company stated.
In addition, the company has applied for pre-qualification of a Green Spirit RX location in Guaynabo.
GSRX recently received pre-qualification and preliminary approval for a medicinal cannabis manufacturing license and a medicinal cannabis transportation license, which will allow the company to transport and deliver cannabis between Green Spirit RX dispensaries and patients’ homes in Puerto Rico.