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LOS ANGELES and DESERT HOT SPRINGS, CA / ACCESSWIRE / July 14, 2020 / Grapefruit USA, Inc., (GPFT) ("Grapefruit" or the "Company") a fully licensed California based cannabis company, is announcing today that Grapefruit has been relisted on the OTCQB Venture Market. The OTCQB is recognized by the SEC as an established public market and all OTCQB listed companies must be current with respect to SEC filing requirements. OTCQB Company's annual reports must be audited pursuant to US GAAP standards by the Issuer's independent audit firm and quarterly reports must be reviewed by the Issuer's independent audit firm. While Grapefruit remained current in its SEC filings throughout its brief hiatus from the OTCQB from February 2020 until today, this up listing confirms the Company's long standing commitment to the microcap venture community, its shareholders and the public at large to provide those constituents with the highest levels of transparency thereby affording our shareholders, investors and other market professionals the unfettered ability to analyze, value and trade our stock with confidence.
With respect to Grapefruit's OTCQB up listing, Bradley J. Yourist, Grapefruit's CEO, stated, "Grapefruit is gratified to have been relisted on the OTCQB and prove once again that our Company delivers on its promises to its shareholders and venture investors. We believe that this uplist will benefit our existing shareholders with greater liquidity and greatly increase our universe of potential investors and shareholders both in the U.S. and internationally. Once again, we have set a goal and achieved it as we move forward to our ultimate vision of becoming a leading seed to sale, ethical, compliant, fully integrated cannabis product company."
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Grapefruit's corporate headquarters is in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products. Grapefruit's extraction laboratory and distribution facilities are located in the industry recognized Coachillin' Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, located on the extension of North Canyon Rd., approximately 14 miles north of downtown Palm Springs. To obtain further information on Grapefruit and its operations, please visit its website at https://grapefruitblvd.com/. To learn more about Grapefruit's Sugar Stoned branded line of cannabis and CBD infused edibles, please visit us at https://sugarstoned.com/.
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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The Waypoint Refinery, LLC
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SOURCE: Grapefruit USA
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