LOS ANGELES and DESERT HOT SPRINGS, Calif., May 26, 2021 (GLOBE NEWSWIRE) – via InvestorWire – Grapefruit USA, Inc., (“GPFT”, “Grapefruit” or the “Company”) (OTCQB: GPFT) a California-based company hemp and cannabis, announces that it has engaged the investor relations and communications marketing company SRAX, Inc. (“SRAX”) (NASDAQ: SRAX) to expose and market the company, its patented topical derivative of Hourglass ™ hemp extended release. The CBD and THC / cannabinoid product lines, its new e-commerce site and affiliate program associated with a wider audience and utilizing SRAX’s “Sequire” system of investor information and communications tools that will allow the company to research and monitor key shareholders to track shareholder buying and selling behavior and trends, then use this data-driven insight to engage with shareholders across multiple media channels such as LinkedIn, Facebook, Instagram, Twitter, and traditional display and messaging channels. The Sequire system will also help the company identify and secure a larger shareholder base and potential investors.
Regarding Grapefruit’s new relationship with SRAX, Bradley J. Yourist, CEO of Grapefruit, said: “We are pleased to have reached a final agreement with SRAX. Their new data-driven approaches to market our products, such as our topical delivery cream, Hourglass ™, and awareness of our stock certainly represent a significant step forward for the company in these areas. “
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SRAX (NASDAQ: SRAX) is a financial technology company that unlocks data and information for publicly traded companies. Through its leading investor intelligence and communications platform, Sequire, companies can track their investor behaviors and trends and use this information to engage current and potential investors through marketing channels. For more information on SRAX, visit srax.com and mysequire.com.
Grapefruit’s corporate headquarters are located in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to manufacture and distribute cannabis products in the Golden State. Grapefruit’s Extraction Lab and manufacturing and distribution facilities are located within the industry-recognized Coachillin ‘Canna-Business Industrial and Auxiliary Culture Park at Desert Hot Springs, located off North Canyon Road, approximately 14 miles north of downtown Palm Springs. For more information about Grapefruit and its business, please visit the company’s website at https://grapefruitblvd.com/.
Safe Harbor Declaration
Grapefruit cautions that any statement included in this press release that is not a description of historical fact 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 in large part on the company’s expectations and are subject to a number of risks and uncertainties inherent in Grapefruit’s business, including, without limitation: the company may never obtain the additional funds needed to support its business development and growth. plans; and the Company may never be successful in the market to achieve or maintain a profitable business. In addition, there are risks and uncertainties associated with the economic recession or terrorist actions, competition from much larger cannabis companies, unforeseen costs and delays, potential product liability claims and numerous other factors. More detailed information about grapefruit and the risk factors that may affect the performance of forward-looking statements are set out in the documents filed by the company with the Securities and Exchange Commission, including the company’s annual report on Form 10- K, its quarterly report on Form 10 -Q for the period ended March 31, 2021 and its registration statement on Form S-1 / A. These documents can be read free of charge on the SEC 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 assumes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This warning is made under the Safe Harbor provisions of Section 21E of the Private Securities Litigation Reform Act 1995.
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