Grapefruit USA, Inc. (OTCQB: GPFT), a premiere fully licensed California-based cannabis company, recently updated and clarified recent developments concerning its patented breakthrough, disruptive Hourglass(TM) time release THC+ Cannabinoid delivery cream. Grapefruit entered into an Exclusive License and Supply Agreement with Zylö Therapeutics Inc., of Greenville, S.C. on July 27, 2020, marking the successful completion of the seventeen-month development of Hourglass(TM), the only topical delivery technology capable of efficaciously crossing the transdermal barrier.
Commenting on the steady growth in market capitalization and daily trading volume, Bradley J. Yourist, Grapefruit’s CEO stated, “It has been satisfying to watch our market capitalization grow from $11,809,990 on July 27, 2020 when we made the first major Hourglass project press release to $30,282,026 at the close on January 15, 2021 and our average daily volume increase from approximately 200,000 shares per day to approximately 1,114,165 shares per day over the same period. We sincerely believe we can significantly improve on this performance by the end of 2021 as Hourglass(TM) enjoys rapid acceptance in the cannabis market and we grow our other divisions.”
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About Grapefruit USA, Inc.
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
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