Business
Grapefruit USA, Inc. Files Its Zylö Exclusive License 8-K
Grapefruit USA, Inc. Files Its Zylö Exclusive License 8-K.
About this update from Grapefruit Usa Inc.
[{"type":"text","content":"The license agreement grants Grapefruit exclusive rights to Zylö's patented time-release 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 for both medical and recreational users.Grapefruit's Hourglass™ THC + Cannabinoid 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.LOS ANGELES and DESERT HOT SPRINGS, CA / ACCESSWIRE / August 3, 2020 / Grapefruit USA, Inc. (OTCQB:GPFT) ("Grapefruit" or the "Company"), a fully licensed California-based cannabis company, announced today that it filed its Exclusive License and Supply Agreement with Zylö Therapeutics Inc. of Greenville, S.C. Form 8-K.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 medical cannabis in the near future.With respect to the filing of the Zylö-Grapefruit Exclusive License and Supply Agreement Form 8-K, Bradley J. Yourist, Grapefruit's CEO, stated, "Grapefruit's filing of the Zylö exclusive license agreement marks a momentous moment for the Company.Our current and future shareholders can now see for themselves the scope of our license rights which are reasonably extensive. Our licensing rights extend from the United States to Canada and Mexico. Grapefruit has a very good working relationship with Zylö's management which affords us the ability to expand our license rights into new countries as our ...