Grapefruit USA (OTCQB: GPFT),
a premiere California-based cannabis and hemp company, has noted its
position on the potential enactment of the Cannabis Administration and
Opportunity Act. Senators Chuck Schumer (D-NY), Ron Wyden (D-OR) and
Cory Booker (D-NJ) released a discussion draft of the act on July 14,
2021. As presented, the act would remove cannabis from the federal list
of controlled substances, making cannabis use legal at the federal
level. According to the company’s announcement, the act also enables
states to implement their own adult-use recreational cannabis laws.
Almost 20 states have already done that, including California, where
Grapefruit is currently operating; in addition the District of Columbia,
the northern Marianas Islands and Guam have adult-use cannabis laws.
Even more states — 37 in total — have laws legalizing medical-use
prescribed cannabis use. The summary of the discussion draft of the act
states that more than 90% of Americans believe cannabis should be legal
for adult recreational and medical use. “Grapefruit enthusiastically
supports the efforts of Senators Schumer, Wyden and Booker to jumpstart
the long-awaited removal of cannabis from the federal list of controlled
substances,” said Grapefruit co-founder and CEO Bradley J. Yourist.
“Passage of the ACT will accelerate our ability to offer Grapefruit’s
patented, disruptive Hourglass(TM)
time-release
THC+cannabinoid delivery cream to all Americans whose states or
territories of residence have legalized cannabis at the state or
territorial level, thereby affording them the ability to enjoy the
benefits of the Hourglass full-spectrum entourage experience. Once the
ACT, as described in the discussion draft becomes law, Grapefruit
customers throughout the country will be able to purchase either non-THC
hemp derived Hourglass
time-release CBD delivery cream or THC+cannabinoid Hourglass
time-release
full-spectrum delivery or any combination thereof as they desire.
Furthermore, these superior, breakthrough Grapefruit Hourglass
products
are only available from Grapefruit or its authorized intermediaries. We
believe passage of the ACT, as presented in the discussion draft, will
be profoundly beneficial to Grapefruit and its shareholders, as well as
to the American public.”
To view the full press release, visit https://ibn.fm/keEVh
About Grapefruit USA Inc.
Grapefruit’s corporate headquarters is in Westwood, Los Angeles,
California. Grapefruit holds California permits and licenses to both
manufacture and distribute cannabis products in the Golden State.
Grapefruit’s extraction laboratory and manufacturing and distribution
facilities are located in the industry-recognized Coachillin’ Industrial
Cultivation and Ancillary Canna-Business Park in Desert Hot Springs,
California. To find out more about the company, please visit www.GrapefruitBlvd.com.
NOTE TO INVESTORS: The latest news and updates relating to GPFT are available in the company’s newsroom at https://ibn.fm/GPFT
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