Business
Grapefruit USA, Inc. Provides Early 2021 Update Concerning It’s Disruptive Hourglas(TM) Time Release THC+CBD Delivery Cream
Grapefruit USA, Inc. Provides Early 2021 Update Concerning It’s Disruptive Hourglas(TM) Time Release THC+CBD Delivery Cream.
About this update from Grapefruit Usa Inc.
[{"type":"text","content":"LOS ANGELES, CA and DESERT HOT SPIRNGS, CA / ACCESSWIRE / January 13, 2021 / Grapefruit USA, Inc., (OTCQB:GPFT) ("Grapefruit" or the "Company") a premiere fully licensed California based cannabis company, is updating and clarifying recent developments concerning its patented breakthrough, disruptive Hourglass™ time release THC+ Cannabinoid delivery cream. Grapefruit initially entered into an Exclusive License and Supply Agreement with Zylö Therapeutics Inc., of Greenville, S.C. on July 27, 2020. Execution of this agreement marked the successful completion of the seventeen-month development of Hourglass™, the only topical delivery technology capable of efficaciously crossing the transdermal barrier. The Exclusive License and Supply Agreement cemented the Company's relationship with Zylö and provided Grapefruit with the solid intellectual property foundation upon which to build its time release topical cream based THC/cannabinoid medicinal and recreational cannabis business in every state in which the use of cannabis is legal. In addition, the Exclusive License and Supply Agreement granted the territories of Canada and Mexico to Grapefruit. Canada has a well-established legalized cannabis marketplace and Mexico is expected to legalize cannabis in the very near future.On September 2, 2020, the Company announced that it had completed critical infrastructure upgrades to its manufacturing facility in the Coachillin Canna-business Park in Desert Hot Springs, CA which upgraded the Hourglass™ production process to seamlessly employ its patented novel delivery technology and allow the Company to exercise complete and exclusive control over the production of its proprietary Hourglass™ topical delivery cream.On November 11, 2020, the Company announced that it had successfully completed significant proprietary improvements to the manufacturing process for production of the Hourglass™ time release delivery cream.On November 18, 2020, the Company commenced commercial production of the Hourglass™ THC and Cannabinoid delivery cream. The Company believes its Hourglass™ cream is a truly disruptive delivery technology that will fundamentally change the way humans ingest THC and other cannabinoids to obtain their unique benefits. Now, a simple application of Grapefruit's...