News

Chemesis acquires equity stake in cannabis dispensary firm

April 1, 2019

Chemesis International, a cannabis grower,manufacturer, distributor and retailer, is acquiring 19.9 percent of outstanding common stock of GSRX Industries.

GSRX buys, develops and operates retail cannabis dispensaries in Puerto Rico and California, according to a press release. It currently operates a Pure and Natural retail kiosk and is getting ready to launch two hemp-based, non-THC CBD retail stores in Tennessee and Texas.

As part of the acquisition, GSRX has granted Chemesis a right of first refusal to manufacture GSRX's current and future production requirements in all jurisdictions where Chemesis has production capabilities.

“Led by seasoned retail veteran Leslie Ball, GSRX has developed a retail strategy that fits incredibly well with Chemesis and complements its extraction and manufacturing abilities by providing expanded sales channels for Chemesis with additional retail access into key markets,” said Edgar Montero, Chemesis CEO, in the release.