Grapefruit USA, Inc. (OTCQB: GPFT) (“Grapefruit” or the “Company”), an innovative California-based cannabiotech company, is looking forward to the new year and execution of existing plans and new initiatives as the Company evolves in response to constant, rapid changes in the cannabis sector on its path to becoming a leading multinational cannabiotech.
Bradley J. Yourist, Grapefruit’s CEO and co-founder, commented, “2021 was a very complicated year for Grapefruit as we struggled with the difficulties engendered by the simultaneous glut of cannabis flowers, reduction of demand and logistical disruptions caused by the worldwide pandemic. Nevertheless, the Company exhibited its fundamental value and resilience by emphasizing further development of our disruptive Hourglass technology and line of Hourglass-based products. Recently, we have been very busy organizing our strategic corporate plans and initiatives for the new year and beyond. We have put in place foundational initiatives that will transform Grapefruit into a multinational cannabiotech company. While we recognize that our share price has softened over the last few months, we made a conscious decision to not issue any press releases until we felt the time was right. However, now our new initiatives have been formulated and have commenced, our corporate plans are in place, and we will be updating our shareholders with respect to the above articulated points on an ongoing consistent basis so they can share in the excitement and growth of Grapefruit throughout 2022.”
“The bottom line is that Hourglass is the only cannabis product in the world that performs at such a high level without exposing its users to the health risks of smoking or orally ingesting cannabis products, as it is the topical that really works. Finally, no one besides Grapefruit or its authorized agents can manufacture, distribute or sell at retail Hourglass-based products,” Yourist added.
To purchase Grapefruit’s groundbreaking CBD delivery relief cream outside of Canada, please visit: https://hourglassonlinestore.com/
To learn more about Grapefruit’s new sustained-release Hourglass™ THC + Cannabinoid Topical Delivery Cream, please watch this promotional video: https://www.youtube.com/watch?v=6cU9MJMgH1w&feature=youtu.be
and visit our website at:
https://grapefruitblvd.com/hourglass/
For investor information, please visit our website at:
https://grapefruitblvd.com/investor-relations/
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About Grapefruit
Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products in the Golden State. Grapefruit’s extraction laboratory and manufacturing and distribution facilities are located in the industry-recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, located on the extension of North Canyon Road, approximately 14 miles north of downtown Palm Springs. To obtain further information on Grapefruit and its operations, please visit the Company’s website at https://grapefruitblvd.com/.
Safe Harbor Statement
Grapefruit cautions that any statement included in this press release that is not a description of historical facts is a forward-looking statement. Many of these forward-looking statements contain the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties inherent in Grapefruit’s business, including, without limitation: The Company may not ever obtain additional funds necessary to support its business development and growth plans; and the Company may not ever achieve the market success to reach or sustain a profitable business. In addition, there are risks and uncertainties related to economic recession or terrorist actions, competition from much larger cannabis companies, unexpected costs and delays, potential product liability claims and many other factors. More detailed information about Grapefruit and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K, its Quarterly Report on Form 10-Q for the period ended Sept. 30, 2021, and its Registration Statement on Form S-1/A. Such documents may be read free of charge on the SEC’s website at www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Grapefruit undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.
Investor Relations Contact:
Bradley Yourist
This email address is being protected from spambots. You need JavaScript enabled to view it.
18776 Blue Dream Crossing, Unit LL1 53-07
Desert Hot Springs, California 92240
(760) 205-1382
https://grapefruitblvd.com/
Please be aware that our social media accounts can be used from time to time for additional material events. They can be found here:
Grapefruit USA:
Facebook: https://www.facebook.com/Grapefruit-Boulevard-2304698596251925/
Instagram: https://www.instagram.com/grapefruit_usa/
Twitter: https://twitter.com/grapefruitusa
LinkedIn: https://www.linkedin.com/company/grapefruit-boulevard/
Weedmaps: https://weedmaps.com/brands/grapefruit
Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
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Last Trade: | US$0.001 |
Daily Change: | 0.0001 11.11 |
Daily Volume: | 196,000 |
Market Cap: | US$1.110M |
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