LOS ANGELES and DESERT HOT SPRINGS, Calif., March 15, 2021 (GLOBE NEWSWIRE) — via InvestorWire – Grapefruit USA, Inc., (OTCQB: GPFT) (“Grapefruit” or the “Company”) a premiere, fully licensed California based cannabis company, announces today that its patented, disruptive Hourglass™ time release THC+ Cannabinoid delivery cream and full spectrum RSO cannabis oil are now available for purchase on Crown Genetics’ (“Crown”) retail delivery online platform in California under the “Wellness” section.
As a result, customers who live in Los Angeles County can have Hourglass delivered to their home or office via the Crown delivery distribution system. The public will also be able to buy Hourglass™, as well as Grapefruit’s full spectrum RSO oil, at any of the over 250 California licensed retail dispensaries serviced by the Crown distribution system as soon as these products are delivered and stocked in these retail outlets. Hourglass™ and the RSO are currently available for retail purchase at the Apothecary 420 Dispensary in Sherman Oaks, California.
Crown is a leading California licensed cannabis distributor that services over 250 licensed retail dispensaries and operates its delivery service encompassing a 30-mile radius in and around Los Angeles County. Now, after testing and evaluating Hourglass™, Crown has included Hourglass™ on the menu of cannabis products it distributes side by side with its own famous Crown OG flower and concentrate line.
Bradley Yourist, Grapefruit CEO stated, “The approval of Grapefruit’s Hourglass™ THC/Cannabinoid delivery cream for inclusion on the Crown cannabis product platform represents yet another milestone for our Company. We can think of no more powerful affirmation of Hourglass’ safety and efficacy than to have a company of Crown’s reputation include a product manufactured by an industry peer such as Grapefruit in its menu of offerings to its retail and wholesale clients. Furthermore, Hourglass™ will now be significantly more available to Los Angeles area residents which should provide a healthy jump start to Hourglass™ revenues and adoption. Our customers can simply go online to both locate brick and mortar stores that inventory and sell Hourglass™ or order it online and have it delivered directly to their home or office in California via the Crown delivery system.”
“We anticipate that our inclusion in the Crown system will not only attract many new retail customers for Hourglass™ and other Grapefruit products but will also expose the “Grapefruit” corporate name, Grapefruit’s trademarked “Hourglass” name, and our OTCMarkets ticker symbol “GPFT” to an ever increasing national and international cannabis-centric audience which is constantly seeking innovative technology-based products such as Hourglass in the cannabis space.”
“I would like to take the opportunity to reemphasize that our patented, disruptive technology, available exclusively in Grapefruit’s Hourglass™ topical cannabis delivery cream, has solved the previously insurmountable difficulties of efficient skin absorption of THC and other cannabinoids, which allows Grapefruit customers to experience the positive holistic benefits and results of a predictable delivery of THC/Cannabinoids over time following initial application of the Hourglass cream to the skin.* In so doing, Grapefruit’s Hourglass™ Topical Delivery Cream has fundamentally changed the way individuals use THC and other cannabinoids to obtain their holistic benefits and will continue to do so for the foreseeable future. Hourglass™ is available only from Grapefruit or our authorized agents such as Crown. This is yet another step forward in the dawning of the age of Hourglass™”.
*This product is not regulated by the FDA and is not intended to cure, mitigate, treat or prevent disease.
To learn more about our Crown’s product page, please visit: https://www.crownog.com/product/detail/PROD9230B0B8-B242-4C5B-A4C2-7C769DCAE638
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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 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, 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.
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