LOS ANGELES / DESERT HOT SPRINGS, CA / ACCESSWIRE / November 18, 2020 / Grapefruit USA, Inc. (OTCQB: GPFT) ('Grapefruit' or the 'Company'), a fully licensed California-based cannabis company, is announcing today that it accepted delivery of the first shipment of commercial quantities of Zylö Therapeutics, Inc.'s ('Zylo') patented Xerogel Silica Gel and has initiated production of commercial quantities of its unique, ground-breaking, patented 'Hourglass by Grapefruit™' time release THC + Cannabinoid infused topical delivery cream.
With respect to the commencement of manufacturing commercial quantities of Hourglass by Grapefruit, Bradley J. Yourist, Grapefruit's CEO, stated, 'For the past sixteen months, we have been working tirelessly on our 'Hourglass by Grapefruit™' THC and Cannabinoid time release delivery cream with the Zylö Therapeutics' scientific team. We are proud to have solved the issue of achieving efficient absorption of THC and Cannabinoids through the skin via the Hourglass delivery cream for a full body effect. I am pleased to report that we have moved from the research and development phase to finely tuned production of Hourglass for our retail distribution channels. I am delighted that our combined efforts to bring this breakthrough product to the California marketplace have succeeded.'
'We believe that Grapefruit's Hourglass™ topical delivery cream is a truly disruptive, technology that has fundamentally changed the way individuals ingest THC and Cannabinoids to obtain their unique benefits. A simple application of our Hourglass cream is all that is needed for our users to obtain the full body entourage effects of THC and a wide array of Cannabinoids. There is presently no competitive product available nor do we know of any on the horizon. The only place anyone can purchase the completely unique and novel Hourglass THC/Cannabinoid experience is through Grapefruit and its authorized vendors.'
'We enthusiastically believe that our Hourglass™ Topical Delivery Cream will be a game-changer in the recreational/medicinal full-spectrum cannabis market given our extraordinary advantages over traditional methods of consuming THC and other cannabinoids and resultant unique experience. We are on schedule for a limited release of Hourglass by Grapefruit™ to the public by Thanksgiving and rapid expansion into the retail market thereafter. THC and cannabinoid uses are about to enter the Age of Hourglass.'
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/. 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 September 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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SOURCE: Grapefruit USA
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