LOS ANGELES, July 06, 2021 (GLOBE NEWSWIRE) — via InvestorWire – Grapefruit USA, Inc. (OTCQB: GPFT) (“Grapefruit” or the “Company”), a premiere California-based cannabis and hemp company, is pleased to announce that Captor Capital Corp. (CSE: CPTR.CN; Frankfurt NMVA; Stuttgart NMVA) (“Captor”), which owns eight retail cannabis dispensaries from Santa Barbara County to Santa Cruz County, California, will all feature GPFT’s Hourglass™ Time Release THC+CBD Delivery Topical Relief Cream commencing this week.
Captor Capital Corp. is a vertically integrated cannabis company that cultivates, manufactures and distributes recreational and medical marijuana-based products to consumers at its One Plant retail cannabis dispensaries located in Salinas, Antioch, Atwater, El Sobrante, Lompoc, Goleta, and soon, Palm Springs, California, and at its Chai Cannabis Co. locations in Santa Cruz and Castroville, California.
Captor’s agreement to carry Grapefruit’s Hourglass™ delivery cream system in its retail outlets is a strong endorsement that the Hourglass system is a truly disruptive delivery technology that is in the process of fundamentally changing the way humans can safely ingest THC and other cannabinoids to obtain their unique holistic benefits. A simple application of Grapefruit’s Hourglass™ cream is all that is needed for Grapefruit’s users to obtain the full-body entourage effects and related relief of THC and a wide array of other beneficial cannabinoids. Furthermore, and most importantly, Grapefruit is the exclusive licensee of the Z-Pod Xerogel Silica Gel, which powers the Hourglass delivery cream system for cannabis products in North America. Only Grapefruit possesses the know-how to manufacture the Hourglass™ time–release delivery cream from the Xerogel Gel, and only Grapefruit-approved retailers, such as Captor, can sell the Hourglass™ time-release delivery cream in the United States, Canada and Mexico. Hourglass is the future of healthy cannabis delivery systems.
Bradley J. Yourist, Grapefruit’s CEO and co-founder, commented, “Over the last 15 months, Grapefruit has been hampered from effectively distributing our Hourglass topical relief cream to new retail cannabis outlets due to the COVID-19 lockdown. Now that the lockdown is over, GPFT is able to effectively distribute Hourglass products throughout California. Grapefruit is confident that as we educate licensed cannabis retailers about the many benefits of the Hourglass time-release delivery system, we will be able to distribute cannabis products based on the Hourglass delivery system to the many hundreds of retail cannabis stores throughout California over the coming quarters. We believe the Captor deal is only the start of a trend that will allow Grapefruit to quickly grow Hourglass brand awareness and Grapefruit revenues. We know the patented Hourglass time-release topical delivery system not only works effectively but is the most effective in the world. We are excited to accelerate the rate at which we deliver the Hourglass technology to our customers that have demonstrated a pressing need for it!”
To learn more about Grapefruit’s new sustained-release Hourglass™ THC + Cannabinoid Topical Delivery Cream, please watch this promotional video:
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 Road, approximately 14 miles north of downtown Palm Springs. To obtain further information on Grapefruit and its operations, please visit the Company’s website at https://grapefruitblvd.com/.
Safe Harbor Statement Grapefruit cautions 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 Sept. 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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