Grapefruit USA (OTCQB: GPFT), a premiere, fully licensed California-based cannabis company, today announced the resignation of John M. Hollister. Hollister served as the company’s CEO prior to its reverse acquisition by Grapefruit Boulevard Investments as well as its transition from a developer of 3D imaging to a fully licensed manufacturer and distributor of cannabis products. These include Grapefruit’s patented, disruptive Hourglass(TM) time-release THC/cannabinoid delivery cream. “We are pleased that the previous chapter of the Imaging3/Grapefruit saga has come to an amicable conclusion. While we, of course, will devote the vast majority of our time and energy to our rapidly growing cannabis businesses and to rapidly ushering in the Hourglass era, we intend to take all prudent efforts to maximize the value of our patented 3D imaging technology, whether by sale, development, spinoff or other available methods,” said Bradley J. Yourist, Grapefruit CEO. “With the departure of Mr. Hollister, we intend to immediately commence efforts to populate our board with high-caliber experts who have proven track records in cannabis, public company governance and capital formation.”
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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, located on the extension of North Canyon Road, approximately 14 miles north of downtown Palm Springs. For more information about the company, visit www.GrapefruitBlvd.com.
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