Business
Grapefruit Boulevard Investments Enters into Strategic Distribution Relationship
Grapefruit Boulevard Investments Enters into Strategic Distribution Relationship.
About this update from Grapefruit Usa Inc.
[{"type":"text","content":"\nReverse Acquisition of Imaging3 Nearing Completion\n Burbank, CA, May 23, 2019 (GLOBE NEWSWIRE) -- Imaging3, Inc. (OTCQB:IGNG), (“IGNG”) or (the “Company”), a development stage company focused on the introduction of disruptive technologies in the medical imaging industry, is further updating its prior announcements regarding its reverse acquisition (the “Acquisition”) by Grapefruit Boulevard Investments, Inc. (‘GBI” or “Grapefruit”) a privately held Los Angeles based cannabis company and simultaneous vending of its imaging business into a privately held corporation which will be partially owned by post - Acquisition IGNG. On May 21, 2019, Grapefruit Boulevard Investments, Inc. entered into a strategic distribution and logistics agreement with a Northern California distribution company. This strategic relationship will provide the Company with statewide reach and afford it the logistics to both distribute and retail its manufactured cannabis infused products, including, Grapefruit’s own ‘Sugar Stoned’ branded line of infused gummies to over 400 licensed retail dispensaries in the State of California. Bradley J. Yourist, CEO stated, “Grapefruit has been searching for a professional, compliant and strategic distribution and logistics relationship for some time now to effectuate our Company’s plan to expand our market reach for our manufactured products, including our cannabis infused edible lines. Well, our search is over because we just entered into a distribution and logistics agreement with a leading Northern California-based distribution company. The agreement provides Grapefruit with solid logistics in order to deliver our products efficiently and timely to the over 400 plus licensed retail cannabis dispensaries in our great state. Grapefruit is now well positioned to expand on its infused cannabis product offerings with the knowledge that the logistical challenges associated with product expansion will be mitigated so that we can focus on the business of creating the amazing, high quality and compliant products our customers demand.” John Hollister, Imaging3 CEO added, “As Grapefruit moves steadily forward with its business expansion activities with as articulated above, IGNG’s management is working closely with the C...