LOS ANGELES and DESERT HOT SPRINGS, Calif., May 10, 2021 (GLOBE NEWSWIRE) — via InvestorWire – Grapefruit USA, Inc. (OTCQB: GPFT) (“Grapefruit” or the “Company”), a diversified California based cannabis and hemp company, today announces its new Affiliate Program which will complement its new E-Commerce Store at: https://hourglassonlinestore.com/affiliates/.
The new Affiliate Program is designed to facilitate the ability of approved and authorized third party resellers with existing online retail platforms to market and sell Grapefruit’s THC-free hemp derived CBD Hourglass powered products. According to Statista1, the U.S. affiliate marketing spend is due to reach $8.2 billion USD by 2022, up from $5.4 billion recorded in 2017.
“Last weekend Grapefruit launched a new Affiliate Program to maximize and facilitate distribution of our THC-free hemp derived CBD Hourglass powered products,” Bradley Yourist, CEO, commented. “We feel the new Affiliate Program will allow Grapefruit to rapidly increase public availability of our THC-free hemp derived CBD product lines and enhance Hourglass brand awareness across the U.S. and internationally. The public will only be able to buy the vastly superior patented Hourglass time-release hemp-based CBD topical cream-based products from Grapefruit and/or its authorized agents and affiliate resellers. Affiliates will become knowledgeable about Grapefruit’s cannabis plant-based products, culture and brand and be prepared to distribute Grapefruit’s THC products as soon as they become legal in an affiliates’ state of residence or cannabis becomes federally legal as is being strongly advocated by Senate majority leader Chuck Schumer.”
Grapefruit is devoted to selling only the highest-quality, independently tested and reliable cannabis and hemp products, and will make no claims unless clinically validated. All of Grapefruit’s THC free hemp-derived CBD-based products to be marketed and sold on the new e-commerce website will be thoroughly tested and include a QR coded Certificate of Analysis, which will provide consumers with a complete list of third-party verified ingredients certifying each product’s cannabinoid content, purity and safety.
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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:
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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 Rd., approximately 14 miles north of downtown Palm Springs. To obtain further information on Grapefruit and its operations, please visit its website at https://grapefruitblvd.com/.
Safe Harbor Statement
Grapefruit cautions you 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-K for the period ended December 31, 2020 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. You 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.
*The statements made regarding these products have not been evaluated by the Food and Drug Administration. The efficacy of these products has not been confirmed by FDA-approved research. These products are not intended to diagnose, treat, cure or prevent any disease. All information presented here is not meant as a substitute for or alternative to information from healthcare practitioners. Please consult your healthcare professional about potential interactions or other possible complications before using any product. The Federal Food, Drug, and Cosmetic Act requires this notice.
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