LOS ANGELES / DESERT HOT SPRINGS, CA / ACCESSWIRE / September 14, 2020 / Grapefruit USA, Inc., (OTCQB: GPFT) ('Grapefruit' or the 'Company') a fully licensed California based cannabis company, is announcing today that the Company has effectively perfected its Standard Operating Procedures and Lab Protocols ('SOP') to both streamline and guarantee the integrity of the in-house production of its Hourglass™ time release THC+CBD delivery cream based on Zylö Therapeutics, Inc. ('Zylö') nano silica delivery technology. 'Hourglass by Grapefruit™' is the only topical cannabis delivery system in the world known to effectively penetrate the five layers of human skin and the blood/brain barrier.
Bradley J. Yourist, Grapefruit's CEO, stated, 'We continue to execute on our plan to control all phases of production of our Hourglass by Grapefruit™ topical system at our manufacturing facility in the Coachillin Canna-Business Park in Desert Hot Springs, CA. Our collegial, collaborative relationship with Zylö has enabled us to successfully establish a comprehensive set of lab protocols for the production of our, patented, disruptive THC+Cannabinoid-loaded time release topical delivery cream. These protocols ensure that our time release THC+CBD topical delivery cream is consistently of the purest quality and highest efficacy for users of our products based upon our time release delivery system.
As our development and production of the Hourglass by Grapefruit™ system progresses, we are becoming increasingly certain that Hourglass by Grapefruit™ topical applications will fundamentally change the way individuals access THC and CBD products to enjoy their unique medical and recreational benefits.
Grapefruit is on course to introduce 'Hourglass by Grapefruit™' to the retail market on a limited basis by the end of the third quarter and to ramp up production and distribution of Hourglass from the Company's Coachillin facilities shortly thereafter.'
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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/. To learn more about Grapefruit's Sugar Stoned branded line of cannabis and CBD infused edibles, please visit us at https://sugarstoned.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-Q for the period ended June 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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