LOS ANGELES, CA and DESERT HOT SPRINGS, CA / ACCESSWIRE / September 2, 2020 / Grapefruit USA, Inc., (OTCQB:GPFT) ("Grapefruit" or the "Company") a fully licensed California based cannabis company, is announcing today that it has completed critical infrastructure upgrades to its manufacturing facility in the Coachillin Canna-Business Park in Desert Hot Springs, California to streamline production of the Hourglass™ time release THC+CBD delivery cream. Grapefruit's laboratory has been outfitted with cutting edge machinery that allows the Company to maintain exclusive control over the proprietary production process of its novel "Hourglass by Grapefruit™" THC+CBD delivery cream. "Hourglass by Grapefruit™" is the only topical cannabis delivery system known to effectively penetrate the five layers of human skin and the blood/brain barrier.
Bradley J. Yourist, Grapefruit's CEO, stated, "We have executed on our plan to upgrade our manufacturing facility so we control all phases of production of our Hourglass by Grapefruit™ system, our unique, patented breakthrough THC+Cannabinoid time release topical delivery cream. We continue to provide representative compliant samples to Grapefruit stakeholders, social influencers and other cannabis industry supporters, critics and analysts to afford them the opportunity to discover and enjoy the heretofore unobtainable Hourglass experience for themselves, discreetly and anonymously.
We are certain that Hourglass will fundamentally change the way individuals access THC and CBD to obtain their unique 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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SOURCE: Grapefruit USA, Inc.