Los Angeles/Desert Hot Springs, CA, Feb. 10, 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 22, 2020, the Company’s Board of Directors unanimously voted to appoint Mr. James Jordan to the Company’s Board of Directors. Mr. Jordan accepted the appointment the following day.

Mr. Jordan is currently, and has been since January 2017, the CEO of C2 Brand Ventures, a Los Angeles, CA based cannabis consulting company that specializes in the development of early and middle stage cannabis companies in California and Nevada. Mr. Jordan is also the Founder and Executive Director of Southern California Cannabis Business and Investment Group, a Los Angeles based Cannabis Industry meet-up and networking group founded by him in 2016 which sponsors monthly events with over ten thousand members.

With respect to the appointment of Mr. Jordan to the Board of Directors, Bradley J. Yourist, Grapefruit CEO, stated, “Mr. James Jordan is an important addition to our Board of Directors given his wealth of cannabis industry knowledge and relationships in the cannabis industry nationally. James embodies our style of leadership. He is guided by ethics, principle and his desire to make a difference. Grapefruit is fortunate to have him and the breadth of experience and expertise he brings to our Company.”

Mr. Jordan also commented: “I am honored have been appointed to the Grapefruit Board of Directors. My goal is to help make Grapefruit an industry leader. I am confident that my extensive experience and expertise in the cannabis industry will provide the Board with hard earned industry insight and assist management in its efforts to grow Grapefruit and the Grapefruit brand strategically and rapidly.”

To learn more about Grapefruit, please visit our website at:
https://grapefruitblvd.com

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About GRAPEFRUIT

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. Grapefruit obtained its California cannabis licenses in January 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 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
           
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 Reports on Form 10-Q for the period ended June 30, 2019 and its Registration Statement on Form S-1. 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.

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/