Imaging3, Inc./Grapefruit Boulevard Investments, Inc. Announces Hiring of Outside Securities Counsel

Burbank, UNITED STATES


Desert Hot Springs, CA, June 26, 2019 (GLOBE NEWSWIRE) -- Imaging3, Inc. (OTCQB:IGNG), (“IGNG” or “Imaging3”) announces that it has recently retained outside counsel to help prepare a registration statement to register shares of IGNG’s common stock underlying the convertible note recently issued by IGNG to an institutional investor (the “Investor”). The Investor is obligated to fund the second tranche of $1,400,000.00 on the day the registration statement is filed with the SEC. Bradley J. Yourist further commented, “We intend to file our registration statement as soon as practicable in order to expedite our receipt of additional funding from our investor and accelerate our growth to the best of our ability. The selection of outside counsel renews our commitment to filing the registration statement as expeditiously as possible, but no guarantee can be made that the registration statement will be filed or that it will be declared effective by the SEC. We move inexorably toward our goal of becoming a leading fully integrated cannabis company”

Potential investors in IGNG’s common shares are cautioned that there can be no assurance that the Company will be able to obtain the financing necessary to achieve its articulated goals and further, that even if such financing is obtained, that it will be sufficient for the Company to achieve its ultimate goals or remain in business.

About GBI

Grapefruit’s corporate headquarters is located in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis. Grapefruit’s cannabis and CBD 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 10 miles north of downtown Palm Springs. Grapefruit obtained its California cannabis licenses in January of 2018 and commenced distribution of cannabis products thereafter. Grapefruit’s vision is to become a seed to sale, fully vertically integrated ethical and compliant cannabis and CBD product Company. 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

Imaging3 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 the Imaging3’s business, including, without limitation: the company may not ever obtain FDA approval for any of its devices; the company may not be able to secure the funds necessary to support its product development plans; and the company may not ever achieve the market success to sustain a profitable business. In addition, there are risks and uncertainties related to economic recession or terrorist actions, competition from much larger imaging companies, technological obsolescence, unexpected costs and delays, potential product liability claims, and many other factors. More detailed information about Imaging3 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 and its Quarterly Report on Form 10-Q. 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 Imaging3 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.

Investor Relations Contact:
Bradley Yourist
brad@grapefruitblvd.com

18776 Blue Dream Crossing, Unit LL1 53-07
Desert Hot Springs, California 92240
(760) 205-1382 https://grapefruitblvd.com/