Grapefruit USA, Inc. Announces Execution of New License Agreement with Zylö Therapeutics Inc. Expanding Grapefruit’s Patented Hourglass Product line to include Hemp-Derived CBD Topical Delivery Creams For Nationwide Distribution
Grapefruit USA, Inc. (OTCQB: GPFT) announced a new agreement with Zylö Therapeutics to expand its Hourglass™ product line to include Hemp-derived CBD topical creams. The agreement provides exclusive rights to use Zylö's Z-Pod™ technology for THC and Cannabinoid creams in the U.S., Canada, and Mexico. This innovation allows for effective time-release delivery of cannabinoids through the skin, with retail sales expected to start soon. Grapefruit aims to tap into the rapidly growing CBD market while offering unique formulations for both medical and recreational users.
- Exclusive rights to Zylö's patented Z-Pod™ technology for THC and Cannabinoid creams.
- Expansion into the Hemp-derived CBD market with time-release delivery system.
- Potential for vast market growth with unique CBD formulations for various users.
- None.
- Powered by Zylö's patented Xerogel Silica Gel ("Z-Pod™") delivery system, Grapefruit's Patented Hourglass™ THC + Cannabinoid Topical Cream is the world's first and only known meaningfully effective THC+Cannabinoid-loaded transdermal cream that penetrates the five layers of human skin breaking through the dermal pathway to penetrate the human blood-brain barrier thereby successfully delivering beneficial cannabinoids throughout the human bloodstream and body in a predictable, steady dose over a targeted time period.
- The new Grapefruit/Zylo Agreement grants Grapefruit the right to produce Hemp-derived CBD, Farm Bill of 2018 compliant, versions of Hourglass by Grapefruit™ Topical Delivery Cream. Grapefruit customers who desire to enjoy the benefits of truly effective, time release non-THC CBD products for whatever reason may now do so by using Hourglass by Grapefruit™ CBD products. No other CBD products on Earth offer this advantage.
- The new license agreement grants Grapefruit exclusive rights to Zylö's patented time-release Z-Pod™ technology for THC+Cannabinoid Topical Cream in the United States, Canada, and Mexico and non-exclusive rights to produce and sell Hemp-derived CBD products utilizing the Z-Pod™ technology through licensed retail outlets in California and through E-commerce Nationwide.
- The unique architecture of Grapefruit's Hourglass™ time-release delivery cream provides Grapefruit with the ability to formulate endless variations of its Hourglass™ product line for both medical and recreational users ranging from purely THC recreational products in recreationally legal jurisdictions like California and Illinois to THC/CBD blends where legal to purely CBD products which are legal throughout the United States and many other countries.
- Grapefruit will commence retail sales of Hourglass by Grapefruit™ this week.
LOS ANGELES and DESERT HOT SPRINGS, CA / ACCESSWIRE / December 9, 2020 / Grapefruit USA, Inc. (OTCQB:GPFT) ("Grapefruit" or the "Company"), a fully licensed California-based cannabis company, announced today that on December 2, 2020 it entered into a new License Agreement and Exclusive Supply Agreement with Zylö Therapeutics Inc. of Greenville, S.C. Execution of this agreement marks expansion of the use of Zylo's patented Z-Pod to Grapefruit's CBD only products. For details of the Agreement see Grapefruit's Current report on Form 8-K filed on December 9, 2020 and Exhibits thereto.
With respect to the new, expanded Agreements with Zylö, Bradley J. Yourist, Grapefruit's CEO, stated, "We are very excited and proud to have expanded use of Zylo's disruptive Z-Pod technology to Grapefruit's non-THC Farm Bill of 2018 CBD hemp-derived Hourglass by Grapefruit™ products. We will be able to sell our hemp derived CBD version of our Hourglass topical cream throughout the United States and Internationally in stores like CVS and Walmart. This development allows us to very quickly expand our market and audience for Hourglass by Grapefruit™ products and vastly increase Company revenues by capturing a portion of the enormous and rapidly growing worldwide Farm Bill compliant hemp derived CBD products market, while simultaneously offering that market the ability to utilize the breakthrough Z-Pod powered Hourglass by Grapefruit time -release delivery cream. No other cannabis or CBD company in the world can offer these unique and very effective CBD products."
Added Scott Pancoast, Zylö's CEO and founder, "We are enthusiastic about this partnership with Grapefruit and believe their Hourglass™ Topical Delivery Cream will be a game-changer in the recreational/medicinal full-spectrum cannabis market given its extraordinary advantages over traditional methods of consuming cannabis. We at Zylö look forward to a long and ever-expanding relationship with the Grapefruit team."
Grapefruit's proprietary Hourglass™ topical cream has solved the inherent difficulties of efficient, effective skin absorption of hemp-derived CBD products, allowing Grapefruit's customers to experience not only the many effects of CBD + other non-THC Cannabinoids following initial application, but a sustained and steady synergistic effect over time. Additional applications may be used at the user's discretion, confidently and discreetly. There simply is no other CBD product on the market that utilizes a patented time-release CBD and other non-THC Cannabinoid delivery mechanism such as Grapefruit's Hourglass™ CBD Topical Delivery Cream.
Finally, the architecture of the Hourglass™ delivery cream provides Grapefruit with the ability to formulate literally endless variations of its Hourglass™ topical cream. Grapefruit can load the cream with proprietary blends of CBD and other non-THC Cannabinoids we, or more importantly our customers, deem to be efficacious for a given application or desired result. Grapefruit is able to ‘fine-tune' or ‘customize' our cream blends to maximize our customer's overall CBD experience with Hourglass™.
Grapefruit is planning its first regional retail launch of Hourglass™ CBD products on a limited basis in the United States by the end of the first quarter of 2021 and to ramp up production and delivery of the product shortly thereafter.
Our patented Hemp-derived CBD-only Cannabinoid Delivery Cream is made with only the purest form of hemp-derived CBD Isolate with a purity rating exceeding
To learn more about Grapefruit's new sustained-release Hourglass™ CBD 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/grapefruits-patented-time-release-thc-patchless-patch-topical-cream/
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https://grapefruitblvd.com/investor-relations/
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About GRAPEFRUIT
Grapefruit's corporate headquarters is located 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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