Grapefruit USA, Inc. Announces that it has Sold-Out Its Third-Harvest of AAA Premium Quality Indoor Cannabis Flowers

LOS ANGELES and DESERT HOT SPRINGS, CA / ACCESSWIRE / July 20, 2020 / Grapefruit USA, Inc., (OTCQB:GPFT) (“Grapefruit” or the “Company”), a California based cannabis company, is announcing the sell-out of the third harvest of Grapefruit’s AAA premium-quality indoor cannabis flowers matching the success of its first and second harvests last quarter. Grapefruit’s cultivator utilizes a state-of-the-art atmosphere controlled, indoor Canopy grow system and an expert cultivation team to produce Grapefruit’s premium grade Cannabis flowers.

Grapefruit’s third harvest included cannabis flower strains such as ‘Runtz’, ‘Gelato 33′ and ‘Fire OG,’ each of which is highly sought-after in the Southern California market. In addition, Grapefruit’s cultivation contract grants Grapefruit the right to purchase the “sugar trim” resulting from the hand trimming process of the harvested flowers which have many uses such a cannabis extracts and pre-rolls.

With respect to Grapefruit’s sell-out of its third harvest of AAA indoor cannabis flowers, Bradley J. Yourist, Grapefruit CEO, stated, “Grapefruit’s cultivation program has yielded a third consecutive sellout harvest. We believe that the consistent excellent result of our contract cultivation program demonstrates the fundamental soundness of Grapefruit’s approach to cultivation which we believe will result in steady revenue growth from our distribution program. We are rapidly building a reputation in the California cannabis market as the go to distributor of high quality AAA indoor cannabis flower at competitive prices. We are also currently witnessing increased demand for high grade indoor grown cannabis flowers and a resultant increase in wholesale and retail prices.

As a result of these trends, Grapefruit is now exploring the possibility of expanding its revenue stream by acquiring or leasing additional ‘turnkey’ indoor cultivation facilities in Southern and Northern California due to the growing demand for premium indoor AAA cannabis flowers.”

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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. Grapefruit’s extraction laboratory 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, California, USA. To obtain further information on Grapefruit and its operations, please visit its website at https://grapefruitblvd.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/A for the period ended March 31, 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.

Investor Relations Contact:
The Waypoint Refinery, LLC

(845) 397-2956

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SOURCE: Grapefruit USA

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