GRAPEFRUIT USA INC - GPFT STOCK NEWS

Grapefruit USA (OTCQB: GPFT), a California-based cannabis company, is in discussions with a Canadian cannabis company regarding a possible acquisition and joint venture to distribute its patented Hourglass™ THC/Cannabinoid time-release cream in Canada. The Canadian Partner has scheduled a shareholder's meeting for early April 2021 to consider these potential agreements. If finalized, the joint venture may grant exclusive rights to manufacture and sell Grapefruit's products on First Nation's Lands and across Canada, although discussions remain preliminary and can be terminated at any time.

Grapefruit USA has signed a Memorandum of Understanding (MOU) with a Canadian cannabis company to form a joint venture for the manufacture and distribution of its patented Hourglass THC/Cannabinoid time-release delivery cream across Canada. The MOU outlines a 50/50 profit split and exclusive sales rights for the Canadian partner in Health Canada permitted locations. The venture emphasizes mutual understanding of goals, regulatory challenges, and capital needs. Grapefruit's CEO anticipates progress in negotiations within the next 60-90 days.

Grapefruit USA, Inc. (OTCQB: GPFT) has secured California Trademark protection for its patented Hourglass™ THC/Cannabinoid time-release delivery cream. This protects the Hourglass™ name and logo as exclusive intellectual property, deterring exploitation by others in the cannabis industry. The company emphasizes that its operational strategy prioritizes intellectual property rights at the state level due to current federal restrictions. CEO Bradley J. Yourist stated this trademark acquisition enhances shareholder value. Federal trademark protection is anticipated pending legalization of cannabis.

Grapefruit USA, Inc. (OTCQB: GPFT), a licensed California cannabis company, announced discussions with a Canadian cannabis firm regarding a potential acquisition. These discussions include creating a memorandum of understanding for a joint venture to manufacture and distribute Grapefruit's patented Hourglass™ THC/Cannabinoid delivery cream in Canada. The CEO highlighted a significant 714% year-over-year revenue increase, sparked interest from the market, and the potential for expanded product availability. Grapefruit emphasizes that these talks are preliminary and may change at any time.

Grapefruit USA (OTCQB: GPFT) has announced preliminary discussions regarding a potential acquisition by a Canadian cannabis firm. This follows the company's impressive 714% year-over-year revenue growth and positive reception of its patented Hourglass™ THC/cannabinoid delivery cream. CEO Bradley J. Yourist emphasized that the discussions are in their early stages and may be halted at any time. Grapefruit aims to prevent insider trading risks by disclosing this information. The company is committed to transparency and will provide updates as discussions progress.

Grapefruit USA, Inc. (OTCQB: GPFT) announced impressive preliminary results for 2020, reporting total unaudited revenues of approximately $3,672,353, marking a staggering 714% increase from 2019. The company showcased a remarkable combined average growth rate of 350% over the last three years. CEO Bradley J. Yourist highlighted the successful launch of their patented Hourglass™ topical THC/cannabinoid delivery cream, citing robust demand and positive user feedback. Grapefruit aims to establish itself as a leading, technology-driven cannabis company in 2021.

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.

Grapefruit USA (GPFT) reported a significant 677% increase in net revenues for the nine months ending September 30, 2020, totaling $2,580,412, compared to $332,041 in the prior year. The company also saw a 48% growth in revenues for the quarter, marking its third consecutive quarter of revenue expansion. Key developments included successful sales of premium-quality cannabis flowers and the effective registration of their securities with the SEC, allowing them to uplist to the OTCQB market. The launch of their Hourglass THC + Cannabinoid delivery cream is anticipated in Q4 2020.

Grapefruit USA (OTCQB:GPFT), a California-based cannabis company, has announced an agreement with a Coachella Valley extraction lab to produce premium cannabis concentrates. This partnership allows Grapefruit to transform its distribution business by-products into higher-margin products like badder and live resin. CEO Bradley J. Yourist highlighted that this move complements their existing focus on the patented Hourglass THC delivery cream. The new concentrates will be marketed under the Grapefruit brand and sold to qualified retailers.