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Grapefruit USA, Inc. (OTCPINK “GPFT”) Announces Private Label Cultivation Agreement with Premium Southern California Based Cannabis Cultivator.
Grapefruit USA, Inc. (OTCPINK “GPFT”) Announces Private Label Cultivation Agreement with Premium Southern California Based Cannabis Cultivator..
About this update from Grapefruit Usa Inc.
[{"type":"text","content":"\n Los Angeles/Desert Hot Springs, CA, Feb. 04, 2020 (GLOBE NEWSWIRE) -- Grapefruit USA, Inc., a Delaware corporation, (“GPFT”) (OTCPink: GPFT) (“Grapefruit” or the “Company”) a California based cannabis company is announcing today that on January 28, 2020 it entered into a Private Label Cultivation Agreement with a prominent Southern California based cannabis cultivator (the “Cultivator”). This Cultivator utilizes a state of the art, indoor Canopy grow system to produce premium grade Cannabis flowers. Under the terms of the Agreement, the Cultivator will allocate a portion of its indoor canopy to Grapefruit. Grapefruit has indicated to the Cultivator which cannabis strains it has chosen for the Cultivator to produce for it based upon Grapefruit’s perceived market demand and profit margins. The initial strains will include two different OG cultivars, and a Runtz cultivar which will be hand trimmed pursuant to the agreement. Grapefruit management believes that the allocated cultivation area will produce approximately 400 pounds or 181,200 grams of premium grade dried cannabis flowers on a seventy day cycle. In addition, the contract grants Grapefruit the right to purchase the “trim” resulting from the hand trimming process. The Agreement will also be subject to industry standard payment and delivery provisions. With respect to signing the Agreement, Bradley J. Yourist, Grapefruit CEO, stated, “This Agreement, with an acknowledged master grower and cultivation team, will provide Grapefruit with an initial steady supply of premium grade, indoor cannabis flowers to enable us to quickly expand our distribution business and concomitant distribution revenue stream. This Agreement will also afford Grapefruit the option to brand our own line of indoor grown high-grade cannabis flowers for the retail market in California. We will be launching this project immediately as we achieve another milestone on our path to becoming a leading vertically integrated cannabis producer.” To learn more about Grapefruit, please visit our website at:https://grapefruitblvd.com Follow us on Facebook, Instagram, LinkedIn and TwitterFacebook | Instagram | LinkedIn | Twitter About GRAPEFRUIT Grapefruit’s corporate headquarters is in Westwood, Los An...