Hall of Fame Wrestler and Cannabis Pioneer Rob Van Dam to Launch RVD Cannabis Brand in California Through Licensing Deal with Grapefruit USA, Inc.

Rhea-AI Summary

Grapefruit USA, Inc. (OTCQB: GPFT) has signed an exclusive licensing agreement with wrestling icon Rob Van Dam to market his cannabis products in California. Van Dam, a prominent figure in professional wrestling, aims to leverage his strong brand following to enhance Grapefruit's market presence amid competition in the cannabis retail sector. CEO Bradley J. Yourist emphasized the significance of effective product branding in this evolving landscape, as the company continues its transition to a science-based cannabiotech business. They intend to expand their footprint across California and eventually nationwide.

Positive

• Exclusive licensing agreement with Rob Van Dam could enhance brand recognition and sales.
• Strategic partnership aligns with the growing demand for well-branded cannabis products.
• Plans for nationwide expansion, indicating potential for significant revenue growth.

Negative

• None.

LOS ANGELES and DESERT HOT SPRINGS, Calif., Sept. 29, 2022 (GLOBE NEWSWIRE) -- via InvestorWire -- Grapefruit USA, Inc. (OTCQB: GPFT) (“Grapefruit” or the “Company”), an innovative California-based cannabiotech company and cannabis distributor, today announces that it has entered into an exclusive licensing agreement with WWE Hall of Fame wrestler and cannabis pioneer Rob Van Dam to bring his branded cannabis products to the California retail marketplace.

Rob Van Dam (“RVD”) is an American professional wrestler and actor best known for his tenures in Extreme Championship Wrestling (ECW), World Wrestling Entertainment (WWE) and Total Nonstop Action Wrestling (TNA)/Impact Wrestling. Van Dam is one of only two wrestlers in history to have held the WWE, ECW and TNA world championships. He was voted "Most Popular Wrestler" by readers of Pro Wrestling Illustrated magazine in 2001 and again in 2002. WWE named him the greatest star in ECW history in 2014.

Bradley J. Yourist, Grapefruit’s CEO and co-founder, commented, “Our industry has matured over the past several years, and that maturation has fundamentally focused success in the retail marketplace around effective product branding. There is a lot of competition for product shelf space in retail stores. Retailers look to the brands that are likely to generate the most sales, and the well-known cannabis brands are the ones that consumers will choose. Our strategic partnership with Rob Van Dam and his team is a natural fit. Rob is a cannabis pioneer with a large and loyal following. His cannabis brand, RVD, has an advantage that other cannabis products lack and fits the new ‘Cannabis 3.0’ environment, which is all about creating exciting and popular branded cannabis and hemp-based products. We look forward to expanding our footprint in California and, eventually, nationwide, bringing the highest-quality RVD cannabis products to California cannabis consumers and patients in need to enhance their health and well-being. Grapefruit’s plan for transitioning into a science-based cannabiotech company remains unabated while we capitalize on Cannabis 3.0 in California.”

For additional information about Rob Van Dam, please visit: https://robvandam.com/.

For additional information about Hourglass Canada, please visit: https://grapefruitblvd.com/hourglass-canadian-launch/

To purchase Grapefruit’s groundbreaking CBD relief cream outside of Canada, please visit: https://hourglassonlinestore.com/

To learn more about Grapefruit’s new sustained-release Hourglass™ THC+Cannabinoid Topical 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/

For investor information, please visit our website at: https://grapefruitblvd.com/investor-relations/

Follow us on Facebook, Instagram, LinkedIn and Twitter:
Facebook | Instagram | LinkedIn | Twitter

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 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 Aug. 30, 2022, 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. Readers 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
ir@grapefruitblvd.com
18776 Blue Dream Crossing, Unit LL1 53-07
Desert Hot Springs, California 92240
(760) 205-1382
https://grapefruitblvd.com/

Please be aware that our social media accounts can be used from time to time for additional material events. They can be found here:

Grapefruit USA:
Facebook: https://www.facebook.com/Grapefruit-Boulevard-2304698596251925/
Instagram: https://www.instagram.com/grapefruit_usa/
Twitter: https://twitter.com/grapefruitusa
LinkedIn: https://www.linkedin.com/company/grapefruit-boulevard/
Weedmaps: https://weedmaps.com/brands/grapefruit

Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

FAQ

What is the significance of the licensing agreement between Grapefruit USA and Rob Van Dam?

The licensing agreement is expected to enhance Grapefruit USA's brand recognition and sales by leveraging Rob Van Dam's established following in the cannabis market.

How will the partnership with Rob Van Dam impact Grapefruit USA's business?

The partnership aims to improve Grapefruit's product branding and market position, which is crucial in a competitive cannabis retail environment.

What are Grapefruit USA's plans for expansion following the agreement with Rob Van Dam?

Grapefruit plans to expand its presence in California and eventually nationwide, focusing on delivering high-quality RVD cannabis products.

What is Grapefruit USA's stock symbol?

The stock symbol for Grapefruit USA is GPFT, listed on the OTCQB exchange.