Los Angeles/Desert Hot Springs, CA, Feb. 20, 2020 (GLOBE NEWSWIRE) -- February 20, 2020 – Grapefruit USA, Inc., (“GPFT”) (OTCPink: GPFT) a California based, fully licensed cannabis company is announcing today that on February 18, 2020 it engaged CannaSafe of Los Angeles as its exclusive cannabis compliance testing laboratory for its novel THC Cannabinoid “Patchless Patch™” time release topical THC infused cream.
CannaSafe is a full-service, state licensed testing laboratory offering a one-stop solution where cannabis product manufacturers, distributors and cultivators test cannabis products to ensure that they are in full compliance with all California regulatory requirements and that their products are effective and safe for use. CannaSafe was the first accredited cannabis testing lab in the world, receiving its ISO 17025 accreditation in 2012.
With respect to Grapefruit’s choice of its exclusive compliance testing lab for the Patchless Patch time-release THC/cannabinoid delivery mechanism, Bradley J. Yourist, Grapefruit CEO, stated, “Grapefruit’s patented THC delivery mechanism has the potential to be fundamentally disruptive to the cannabis industry. Therefore, we felt it was incumbent upon us over the last several months to interact with potential testing labs to make certain that our silica cannabinoid delivery mechanism could be meaningfully tested using state of the art testing instruments that are used for other cannabis products. Grapefruit is pleased to have chosen CannaSafe as its exclusive compliance testing laboratory for our Patchless Patch because after our in depth discussions with them, we believe that CannaSafe possesses the highest level of expertise to quickly and accurately test our Patchless Patch. Grapefruit further believes that our decision to use industry leader CannaSafe will accelerate our efforts to efficiently and safety bring the Patchless Patch to the retail marketplace. The more quickly we bring a well- tested and effective Patchless Patch to market, the sooner revenues from the product will flow to the Company and create value for our shareholders. This engagement of CannaSafe is yet another well-considered step forward toward our goal of becoming an industry leader.”
To learn more about Grapefruit’s THC Cannabinoid Patchless Patch™, please visit our website at:
https://grapefruitblvd.com/grapefruits-patented-time-release-thc-patchless-patch-topical-cream/
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About GRAPEFRUIT
Grapefruit’s corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products. Grapefruit’s extraction laboratory 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. Grapefruit obtained its California cannabis licenses in January 2018 and commenced distribution of cannabis products thereafter. Grapefruit’s vision is to become a seed to sale, fully vertically integrated ethical and compliant cannabis product Company. 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 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 Reports on Form 10-Q for the period ended June 30, 2019 and its Registration Statement on Form S-1. 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.
Investor Relations Contact:
Bradley Yourist
brad@grapefruitblvd.com
18776 Blue Dream Crossing, Unit LL1 53-07
Desert Hot Springs, California 92240
(760) 205-1382
https://grapefruitblvd.com/