Grapefruit USA, Inc. Announces Formal Execution of its License Agreement with Zylö Therapeutics Inc. Granting Grapefruit an Exclusive License for use of Zylö’s Patented Z-Pod™ Delivery System which drives Grapefruit’s Disruptive Hourglass™ Time Release THC+Cannabinoid Topical Cream

• Powered by Zylö’s patented time-release Z-Pod™ delivery system, Grapefruit’s Hourglass™ THC + Cannabinoid Full Spectrum Topical Cream is the world’s first and only known meaningfully effective THC+Cannabinoid-loaded transdermal cream that penetrates the five layers of human skin breaking through the dermal pathway to penetrate the human blood-brain barrier thereby successfully delivering beneficial cannabinoids throughout the human bloodstream and body in a predictable, steady dose over a targeted time period.
• The license agreement grants Grapefruit exclusive rights to Zylö’s patented Z-Pod™ technology in the United States, Canada, and Mexico.
• The unique architecture of Grapefruit’s Hourglass™ time-release delivery cream provides Grapefruit with the ability to formulate literally endless variations of its Hourglass™ product concept for both medical and recreational users.
• Grapefruit is planning its first regional retail launch of Hourglass™ on a limited basis in the United States before Q4 2020.

LOS ANGELES and DESERT HOT SPRINGS, CA / ACCESSWIRE / July 27, 2020 / Grapefruit USA, Inc. (OTCQB:GPFT) (“Grapefruit” or the “Company”), a fully licensed California-based cannabis company, announced today that it has entered into an Exclusive License and Supply Agreement with Zylö Therapeutics Inc. of Greenville, S.C. Execution of this agreement marks successful completion of the year-long development of Grapefruit’s disruptive, patented time-release THC + Cannabinoid full spectrum infused topical delivery cream named “Hourglass by Grapefruit™”, the world’s first and only known transdermal delivery system capable of delivering cannabinoids into the bloodstream in a predictable steady dose over time. The exclusive license agreement cements the Company’s relationship with Zylö and provides Grapefruit with the IP platform to build novel and disruptive topical THC/cannabinoid medicinal and recreational cannabis products for every legalized state. In addition, the agreement grants the Company the territories of Canada and Mexico, significantly expanding the Company’s potential market. Canada has a well-established legalized cannabis marketplace, and Mexico is anticipated to legalize cannabis in the near future.

With respect to Grapefruit’s Exclusive License and Supply Agreement with Zylö, Bradley J. Yourist, Grapefruit’s CEO, stated, “We are very excited and proud to have completed the developmental phase of Hourglass™, our breakthrough THC + Cannabinoid full spectrum time-release topical delivery cream based on Zylö’s patented xerogel silica delivery system. We have developed an incredible collaborative working relationship with Zylö’s team of scientists, which is evidenced by the scope of our exclusive license agreement. We believe that Grapefruit’s Hourglass™ topical delivery cream is a truly disruptive, breakthrough technology, one that fundamentally changes the way our customers will use THC and Cannabinoids to obtain their unique benefits. Destructive and socially distasteful smoking of cannabis flowers and consumption of edibles that are unpredictably metabolized in the gut and liver, are simply no longer necessary to enjoy both the medicinal and recreational benefits of THC/Cannabinoids. Furthermore, Grapefruit’s Hourglass™ Topical Delivery Cream offers THC/Cannabinoid consumers a heretofore unattainable level of discretion and anonymity. For example, fellow airline, train or ship passengers, concert goers, and movie or theatre attendees will be unable to detect any telltale odors normally associated with THC use.”

Added Scott Pancoast, Zylö’s CEO and founder, “We are enthusiastic about this partnership with Grapefruit and believe their Hourglass™ Topical Delivery Cream will be a game-changer in the recreational/medicinal full-spectrum cannabis market given its extraordinary advantages over traditional methods of consuming cannabis. We at Zylö look forward to a long and ever-expanding relationship with the Grapefruit team.”

Grapefruit’s proprietary Hourglass™ topical cannabis cream has solved the inherent difficulties of efficient skin absorption of THC and other Cannabinoids, allowing Grapefruit’s customers to experience not only the synergistic effect of THC + CBD + other Cannabinoids following initial application, but a sustained and steady synergistic effect over time. Additional applications may be used at the user’s discretion, confidently and discreetly. There simply is no other cannabis product on the market that utilizes a patented time-release THC and Cannabinoid delivery mechanism such as Grapefruit’s Hourglass™ THC+Cannabinoid Full Spectrum Topical Delivery Cream.

Finally, the architecture of the Hourglass™ delivery cream provides Grapefruit with the ability to formulate literally endless variations of its Hourglass™ product concept. Grapefruit can load the cream with other proprietary blends of THC/Cannabinoids we, or more importantly our customers, deem to be efficacious for a given application or desired result. Grapefruit is able to ‘fine-tune’ or ‘customize’ our cream blends to maximize our customer’s overall THC/Cannabinoid experience with Hourglass™.

Grapefruit is planning its first regional retail launch of Hourglass™ on a limited basis in the United States by the end of the third quarter and to ramp up production and delivery of the product shortly thereafter.

To learn more about Grapefruit’s new sustained-release Hourglass™ THC + Cannabinoid Topical Delivery Cream, please watch this promotional video https://www.youtube.com/watch?v=6cU9MJMgH1w&feature=youtu.be and visit our website at: https://grapefruitblvd.com/grapefruits-patented-time-release-thc-patchless-patch-topical-cream/.

To learn more about Grapefruit, please visit our website at: https://grapefruitblvd.com/investor-relations/.

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About GRAPEFRUIT

Grapefruit holds licenses in California and Illinois to both manufacture and distribute cannabis products (see website at https://grapefruitblvd.com/). The Company’s extraction lab produces high quality, cannabis-derived THC and full-spectrum distillates commonly known as “honey oil” and “crude oil” from cannabis flower and “trim”. These distillates are base cannabis commodities and are the active ingredients in many cannabis products including infused edibles, tinctures, and creams, and are also used as the active ingredient in vaporization cartridges. Grapefruit also distributes branded cannabis and cannabis products to properly licensed cannabis product companies, including the Sugar Stoned™ line of cannabis and CBD-infused edibles (see https://sugarstoned.com/) and the breakthrough Hourglass™ sustained-release THC+Cannabinoid Topical Delivery Cream (see https://grapefruitblvd.com/grapefruits-patented-time-release-thc-patchless-patch-topical-cream/).

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.

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SOURCE: Grapefruit USA, Inc.

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