LOS ANGELES, CA and DESERT HOT SPIRNGS, CA / ACCESSWIRE / January 13, 2021 / Grapefruit USA, Inc., (OTCQB:GPFT) ('Grapefruit' or the 'Company') a premiere fully licensed California based cannabis company, is updating and clarifying recent developments concerning its patented breakthrough, disruptive Hourglass™ time release THC+ Cannabinoid delivery cream. Grapefruit initially entered into an Exclusive License and Supply Agreement with Zylö Therapeutics Inc., of Greenville, S.C. on July 27, 2020. Execution of this agreement marked the successful completion of the seventeen-month development of Hourglass™, the only topical delivery technology capable of efficaciously crossing the transdermal barrier. The Exclusive License and Supply Agreement cemented the Company's relationship with Zylö and provided Grapefruit with the solid intellectual property foundation upon which to build its time release topical cream based THC/cannabinoid medicinal and recreational cannabis business in every state in which the use of cannabis is legal. In addition, the Exclusive License and Supply Agreement granted the territories of Canada and Mexico to Grapefruit. Canada has a well-established legalized cannabis marketplace and Mexico is expected to legalize cannabis in the very near future.
On September 2, 2020, the Company announced that it had completed critical infrastructure upgrades to its manufacturing facility in the Coachillin Canna-business Park in Desert Hot Springs, CA which upgraded the Hourglass™ production process to seamlessly employ its patented novel delivery technology and allow the Company to exercise complete and exclusive control over the production of its proprietary Hourglass™ topical delivery cream.
On November 11, 2020, the Company announced that it had successfully completed significant proprietary improvements to the manufacturing process for production of the Hourglass™ time release delivery cream.
On November 18, 2020, the Company commenced commercial production of the Hourglass™ THC and Cannabinoid delivery cream. The Company believes its Hourglass™ cream is a truly disruptive delivery technology that will fundamentally change the way humans ingest THC and other cannabinoids to obtain their unique benefits. Now, a simple application of Grapefruit's generally available Hourglass™ cream is all that is needed for our users to obtain the full body entourage effects of THC and a wide array of other beneficial cannabinoids. Furthermore, and most importantly, only Grapefruit is licensed to use the Zylo Xerogel Silica Gel for such products, only Grapefruit knows how to manufacture the Hourglass™ cream from the Zylo Gel, and only Grapefruit approved retailers can sell the Hourglass™ cream. Hourglass is the future of Cannabis and Hourglass can only be manufactured by Grapefruit and only obtained from Grapefruit or its authorized sellers.
On December 9, 2020, the Company announced that it had executed a new License and Exclusive Supply Agreement with Zylo Therapeutics which expands Grapefruit's use of Zylo's Z-Pod Xerogel Silica Gel technology to power the Hourglass™ topical delivery cream to cover non-THC Farm Bill of 2018 CBD hemp-derived products. This development immediately puts the Hourglass™ brand of non-THC products in the CBD Retail market in all 50 States. As a result, the Company will now be able to sell Farm Bill compliant CBD infused Hourglass™ time release delivery cream products throughout the US in major wellness retailers as familiar as CVS and Walmart and to rapidly familiarize consumers all over the country and world with the Hourglass brand and its breakthrough CBD delivery technology.
With respect to the constant progress the Company has made in the last six months as set forth above, Bradley Yourist, Grapefruit CEO stated, 'We are very grateful to have successfully executed on the Hourglass™ initiative and bring to market our novel and patented THC and Cannabinoid time release delivery cream based on Zylo's patented nano silica delivery system. We have an incredible collaborative working relationship with the Zylö team of scientists as is evidenced by the broad scope of our exclusive License and Supply Agreements. We believe that Grapefruit's Hourglass™ topical delivery cream is a truly novel and disruptive delivery technology which fundamentally changes the way individuals will use THC and CBD to obtain their holistic benefits. As a result, smoking cannabis flowers and the orally consuming edibles, which are metabolized in the gut and liver resulting in uneven reactions, are no longer the exclusive ways to receive both the medicinal and recreational benefits of THC/Cannabinoids. Now for the first time in history, there is an effective, easy to use third choice - Hourglass™ by Grapefruit. Furthermore, as an added benefit, Grapefruit's Hourglass™ Topical Delivery Cream offers THC/Cannabinoid users a heretofore unattainable level of discretion and anonymity in connection with the use of THC and other cannabinoids.
Grapefruit's patented Hourglass™ topical cannabis delivery cream has solved the previously insurmountable difficulties of efficient skin absorption of THC and other cannabinoids, allowing Grapefruit's customers to experience a sustained and steady delivery of THC/Cannabinoids over time following initial application to the skin. Additional applications may be used at the user's discretion confidently and discreetly.
Finally, the architecture of Grapefruit's Hourglass™ delivery cream provides Grapefruit with the ability to formulate literally endless variations of the Hourglass cream. We can load our cream with whatever blend of THC/Cannabinoids we, or, more importantly, our customers deem to be efficacious for a given application or desired result. One of Grapefruit's major goals has been to achieve the ability to ‘fine tune' or ‘customize' the THC/CBD/Cannabinoid blends in any given cream to maximize our customer's overall THC/cannabinoid experience with Hourglass. There simply is no other product on the on the planet which successfully utilizes a patented time release THC and CBD delivery mechanism such as Grapefruit's Hourglass™ Cream to deliver cannabis benefits to the user. Simply stated, Grapefruit's Hourglass THC/ Cannabinoid delivery cream works, and works well. No other topical does.'
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: https://grapefruitblvd.com/hourglass/
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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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