LOS ANGELES and DESERT HOT SPRINGS, Calif., March 11, 2021 (GLOBE NEWSWIRE) — via InvestorWire – Grapefruit USA, Inc. (OTCQB: GPFT) (“Grapefruit” or the “Company”), a premiere, fully licensed California-based cannabis company, today announces the execution of a digital services consulting agreement with Roger Choudhury and his Business Financial Network (“BFN”), which broadcasts presentations concerning selected public companies. BFN will produce tailored video presentations about Grapefruit and its products – especially its patented, disruptive Hourglass time-release THC/cannabinoid delivery cream – as well as interviews with Grapefruit management and other relevant subjects at least three times a month.
Bradley J. Yourist, Grapefruit CEO, commented, “We are pleased to enter into this agreement, which allows us to easily launch a digital outreach to our shareholders and cannabis-centric consumers, who are always eager to receive updates on Grapefruit’s progress with respect to both our financial results and our products. Management believes that as the Grapefruit/Hourglass shareholder and user base rapidly expands in the coming months, press releases alone will not provide sufficient information to those audiences, and the BFN plan will allow us to quickly and meaningfully increase our flow of information to shareholders and users alike. Think of it as the initiation of Grapefruit/HourglassTube, through which the Company will eventually broadcast GPFT stock and product development updates in real time.”
Roger Choudhury, the founder and host of BFN, has been broadcasting updates and news on selected companies via YouTube, Facebook, LinkedIn, Twitter, Instagram, Blogger and many other social media sites for years and now enjoys a community of 50,000 members that is growing daily. BFN’s daily YouTube show provides professionally vetted, in-depth information about selected companies via various broadcast formats.
Mr. Choudhury commented, “We are very pleased to have made the acquaintance of Brad and Dan Yourist of Grapefruit USA, who have, over the last couple of years, laid the foundation for a truly innovative company with an incredible headline product, Hourglass. We look forward to assisting them on their inevitable march to success.”
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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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A PDF accompanying this announcement is available at: http://ml.globenewswire.com/Resource/Download/5b6d8533-2d67-4946-a18a-e26a298304df