- Grapefruit has entered into a letter of intent with Dogwood Management Group Inc. to acquire and manage retail dispensaries in Northern and Southern California
- The company recently commenced retail sales of its first Grapefruit brand of cannabis-infused edible gummies under the trade name Sugar Stoned®
- Grapefruit is preparing to introduce more cannabis-infused offerings, including its new wellness and lifestyle brands line of CBD and THC mixed vaporizer cartridges, in Q3 2019
- Parent company Imaging3 Inc. plans to change its ticker symbol and corporate name in order to better reflect Grapefruit’s branding across its platforms
Grapefruit Boulevard Investments Inc., a California corporation and a wholly owned subsidiary of Imaging3 Inc. (OTCQB: IGNG), has entered into a letter of intent with Dogwood Management Group Inc. The nonbinding letter of intent outlines the agreement between the two companies: Grapefruit plans to acquire and Dogwood will manage California-licensed and fully compliant retail cannabis dispensaries throughout California that meet the regulatory, operational and financial results requirements for the two companies (http://nnw.fm/tPxN4).
“We continue to press purposefully forward toward our ultimate goal of vertical integration by implementing this initial program to build a network of fully compliant, legal dispensaries by entering into this arrangement with Dogwood which eliminates the necessity of building an in house acquisition staff and dispensary management team and thereby significantly accelerates our legal retail dispensary acquisition program,” Grapefruit CEO Bradley Yourist stated…
NOTE TO INVESTORS: The latest news and updates relating to IGNG are available in the company’s newsroom at http://nnw.fm/IGNG
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