LOS ANGELES and DESERT HOT SPRINGS, Calif., April 05, 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 online merchant has been approved and that Grapefruit will launch its new U.S. e-commerce website in April 2021, featuring the Company’s novel line of hemp CBD only-derived versions of its disruptive, patented Hourglass™ time release delivery cream.
The new e-commerce website will serve as the online home for Grapefruit’s growing portfolio of U.S. hemp-derived CBD product lines and as a one-stop, globally accessible shop for all future hemp CBD based products Grapefruit will produce. While there are many fiercely competitive CBD product sites populating the internet, TV, radio and other media, none can offer United States’ federally legal CBD products based on Grapefruit’s patented Hourglass topical cream’s technology.
“Grapefruit is gratified and proud to offer our U.S. and international customers a convenient, one-stop shop to purchase our hemp CBD only-derived versions of Hourglass time-release delivery cream powered products,” said Bradley J. Yourist, CEO of Grapefruit USA, Inc. “Until now, Grapefruit’s Hourglass technology-based products have contained THC, so Grapefruit could not sell these products across state lines or internationally. No such federal legal barrier exists for our new hemp-derived CBD only products. So, as our unique and innovative portfolio of hemp CBD only-based products expands and transforms, Grapefruit will offer novel and competitively priced, high quality CBD hemp only-derived products incorporating the Hourglass technology based time-release delivery to our customers. Furthermore, and most importantly, the public will only be able to buy the vastly superior, Hourglass powered, hemp CBD derived Grapefruit products from Grapefruit and/or its authorized agents. By analogy, it’s as if Grapefruit was the only company on earth with the right to sell electric cars.”
Grapefruit is devoted to selling only high-quality, tested, and reliable products and ensuring it makes no claims unless clinically validated. All of Grapefruit’s hemp CBD-based products to be marketed and sold on the new e-commerce website will be tested and come with a QR coded Certificate of Analysis, which provides consumers with a complete list of third-party verified ingredients certifying precise and accurate labeling of the 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.
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