Los Angeles/Desert Hot Springs, CA, April 01, 2020 (GLOBE NEWSWIRE) -- Grapefruit USA, Inc., (“GPFT”) (OTCPink: GPFT) a California based cannabis company, is announcing today that it has signed a Data License Agreement (the “Agreement”) with Encinitas, CA. based P5 Systems, Inc., the owner and operator of Budtrader.com, the cannabis industry’s largest social media platform. BudTrader’s platform is available in the United States in every state in which cannabis use is legal, as well as Canada and Puerto Rico. BudTrader’s two million plus registered users can safely and legally post and reply to classifieds–style advertisements for cannabis products, services, jobs, equipment, etc. BudTrader users can freely communicate and network with one another without of any fear or paranoia concerning censorship or any other hassling by the operators of the platform. The Agreement grants Grapefruit a six-month exclusive license to execute, copy, reproduce, display, perform, develop, create derivative work based upon or otherwise use BudTrader’s customer data for its investor relations uses. For all other uses, the license is non-exclusive. In consideration of the license, Grapefruit will issue 1,000,000 of its common shares to P5, Inc.

With respect to the Grapefruit/BudTrader agreement, Bradley J. Yourist, Grapefruit CEO, stated, “there could not be a more natural alliance than the one between our companies. I recognize that we live in the data-age, and our Agreement with BudTrader will afford us with the opportunity to effectively market our wholesale and retail products, services and Company itself to very granular sub-sets of data and demographics. We will work closely with BudTrader to formulate several unique marketing strategies to grow both of our customer bases. We are excited about the opportunity to work with this innovative company and its CEO, Brad McLaughlin in the coming months to effectively communicate each of our messages to the Cannabis and CBD ecosphere nationwide and internationally.”

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 infused edibles, please visit us at https://sugarstoned.com/.

About BUDTRADER

Budtrader is based in Encinitas, California. Budtrader is the Cannabis industry’s largest social media platform with over 2 million registered users and more than 20 million page views per month with an average time on site of over 15 minutes. The Company’s database of of cannabis users and vendors is one of the largest in the world. The Company’s website is www.Budtrader.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/