SAN FRANCISCO, Feb. 15, 2018 (GLOBE NEWSWIRE) — Green Spirit Industries Inc. (OTC Pink:GSRX) (“Green Spirit” or, the “Company”) announced today that it has entered into an operating agreement to form a new entity, Sunset Connect Oakland, LLC, to enter into the cannabis industry in California via a joint venture with Sunset Connect SF Inc. (“Sunset Connect”), an established cultivation and branded extractions business headquartered in the San Francisco Bay Area. The operating agreement provides that Green Spirit will invest $1 million dollars for 55% of the new entity, which will be used towards expansion of the existing company, including cultivation, extraction and operations, as well as broadening distribution of the Sunset ConnectTM brand of artisan flowers and extractions throughout the state.
Sunset ConnectTM 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 a portfolio of branded extractions including crumble, shatter, wax and rosin. Sunset Connect products are currently available in dispensaries, as well as through licensed delivery services.
Plans for growing the business include dramatically increasing product output, which will require securing a lease of up to 20,000 square feet of cultivation and extraction space, part of which will be used for expanded operations. Green Spirit and Sunset Connect are currently negotiating the terms of a lease for a prospective location; however, there can be no assurance that they will enter into such lease or that they will be on reasonably commercial terms. Plans also include growing the company’s distribution network to include both medical and recreational dispensaries and delivery services all over the state, which has experienced a predicted boom in sales since the legalization of recreational cannabis in California on January 1st.
“Following nearly a year of carefully considering the California cannabis market and how best for Green Spirit to enter, we are certain that Sunset Connect is the right way to make a big footprint in the Golden State’s ‘the sky’s the limit’ cannabis industry,” said Les Ball, Chief Executive Officer of Green Spirit. “With five medicinal cannabis dispensaries set to open in Puerto Rico, pending final inspection and issuance of operating permits, and now an established and well-respected cultivation and extraction business poised for huge growth in California, we believe we are off to a great start in this industry and are a company to watch in this new business sector.”
James Paul Sipe, Lead Cultivator for Sunset Connect, added, “We knew that Sunset Connect was ready for the leap to the next level, but finding the right partner to ensure a proper transition from the Medicinal to Recreational industry was critical. In Green Spirit, we discovered a team of seasoned and successful businesspeople who just happen to also grasp our vision for taking the operations to the next level while we focus on providing the high quality product that is our hallmark. This is a great opportunity for both companies that we know is going to take us all to new heights in sales and branding. Our secret to success lies in our carefully guarded genetics library, which includes sought-after strains, including Sunset Sherbet by Sherbinski, original Lamb’s Bread, Unicorn Tears, Platinum Yeti and Forbidden Fruit, among others.”
Sunset Connect will continue to be managed by founder Ali Jamalian, James Paul Sipe and Sarah Rodriguez, who currently lead the organization. Jamalian developed the cannabis industry brands SpirulinexTM, Aqua Tetra Highdrate and Sunset ConnectTM. 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, and before that was Lead Cultivator for William Noyes Webster Foundation, Inc. in Dennis, MA. He designed and ran cultivation operations at both companies. He also oversaw more than 30,000 square feet of cultivation at all stages of development for Compassionate Caregivers in California, managing a staff of 50+ engaged in all aspects of cultivation and processing. Rodriguez, Sunset Connect’s Chief Scientist, is a collaborative post-doctoral researcher with experience in strain development and metabolic engineering for terpen 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 wholly-owned subsidiary, Project 1493, LLC, is in the business of acquiring, developing and operating cannabis dispensaries.
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.