Author: CannabisNewsWire (CNW)

About CannabisNewsWire CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge. To receive SMS text alerts from CannabisNewsWire, text “CANNABIS” to 21000 (U.S. Mobile Phones Only) For more information please visit https://www.CannabisNewsWire.com Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

420 with CNW — Voters Could Decide on Marijuana Measures in 2022 in These States

As the wave to enact cannabis reform gains momentum across the country, we take a look at some of the states in which marijuana ballot measures may be on the cards this year.

In Ohio, advocates who submitted voter signatures last year were told that they needed an additional 13,062 voter signatures to see their initiative cleared by the secretary of state. On Jan. 13, 2022, this group turned in an extra 29,918 voter signatures and now await the verdict of state officials on whether the needed number of valid signatures was attained. The legislature will then have a chance to enact the reform, otherwise the measure will be voted on during this year’s ballot.

In Florida, campaigners are looking to reform the medical marijuana law that was approved by voters back in 2016. One measure is aimed at making changes to the list of the qualifying conditions by adding nine mental health conditions to that list of eligible health conditions if one is to use medical marijuana in the state. Another measure is altering the definition of “medical marijuana use” so that it encompasses the cultivation of a maximum of nine cannabis plants.

In Arkansas, voters may decide the fate of two possible initiatives. One campaign is seeking to legalize recreational cannabis for individuals who are at least 21 years old, while the other initiative is aimed at decriminalizing cannabis, giving limited protections to companies in the cannabis industry and creating regulations to govern the cannabis sector. The deadline for both campaigns to gather at least 89,151 voter signatures is July 8, 2022.

In Idaho, marijuana advocates are back to qualify an initiative to establish a medical cannabis program. Initially, they had wanted to see this initiative on the ballot in 2020, but COVID-19 brought their plans to a halt. However, they promised to return this year. May 1, 2022 is the deadline for the submission of voter signatures in support of this campaign, as well as another campaign designed to end the prohibition of recreational cannabis use by adult residents of the state.

In Oklahoma, there are three measures that could appear on this year’s ballot. Two of these measures are geared to make changes to Oklahoma’s constitution so that a recreational cannabis program can be implemented with sales taxed at 15% while the third measure aims at creating a new regulatory body to replace the current Oklahoma Medical Marijuana Authority.

South Dakota, Missouri and North Dakota also have campaigns underway to put cannabis policy reform measures on this year’s ballot. It remains to be seen which of these initiatives will eventually receiver voter endorsement and become law, thereby expanding the potential market for new and existing sector players such as Flora Growth Corp. (NASDAQ: FLGC).

NOTE TO INVESTORS: The latest news and updates relating to Flora Growth Corp. (NASDAQ: FLGC) are available in the company’s newsroom at https://cnw.fm/FLGC

About CNW420

CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.

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420 with CNW — California Governor Vows to Reform State Marijuana Taxes

Last week, California Gov. Gavin Newsom made an announcement that was welcomed by the marijuana industry. During a news conference after revealing his 2022–2023 budget estimates, Newsom stated that he planned to revisit marijuana taxes so that the cannabis market could be stabilized.

During that news conference, Newsom also stated that he planned to make municipalities across the state wake up to the immense potential of allowing marijuana retail businesses to operate within their jurisdictions in order to squeeze out black market operators.

However, the governor didn’t provide any details regarding the approach that he would use to enact the needed tax reforms as well as how to get more retail outlets open. Some analysts think that Newsom will include a grant program in the state budget so that businesses in the cannabis space can receive the help they need to become formal and adhere to the existing marijuana laws in California. Industry watchers also say that it is likely that any changes to the cannabis tax regime will be made through the use of a standalone law presented to the legislature.

For such a tax bill to pass, support from two-thirds of the lawmakers in both legislative chambers is required, and this will not be an easy feat given that more than one tax reform bill is likely to be tabled this year. What is likely to be easier to implement is a grant program. Newsom’s administration has so far supported a number of grant initiatives, such as one to promote social equity in the cannabis industry and another to enable local governments to process more cannabis licenses.

Newsom’s announcement comes at a time when there is growing unease about the future of the state marijuana industry given the high taxes imposed, opposition from many municipalities and a thriving black market. Some activists have even gone so far as to predict that the sector could collapse in a year if urgent steps aren’t taken to reform the tax policy applicable to cannabis products. These activists say the biggest victims are likely to be small businesses, especially those owned or operated by minority groups, since these small businesses are already burdened by numerous disadvantages, such as limited capitalization.

Graham Farar, president of Glass House Group, remarked that Newsom had zeroed in on the two main things that the marijuana industry needed. These two things are lower taxes that would allow licensed operators to compete favorably with the black market, and more outlets in the retail segment so that more products made can be sold legally.

If these needed reforms are enacted, the entire sector, including companies such as American Cannabis Partners, will benefit from a regulatory landscape that is a tad more favorable to the growth of the industry.

NOTE TO INVESTORS: The latest news and updates relating to American Cannabis Partners are available in the company’s newsroom at https://cnw.fm/ACP

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CannabisNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) CEO Featured in EDGE Podcast Interview

Lexaria Bioscience (NASDAQ: LEXX) CEO and chair Chris Bunka is the guest on a recent episode of the EDGE podcast. Hosted by entrepreneur and angel investor Brandon C. White, the EDGE is a podcast series focused on providing a playbook for business owners that takes a look at the inner game of building a successful business and giving listeners the edge to become smarter, healthier and richer. Lexaria Bioscience is a global innovator in drug-delivery platforms. During the interview, Bunka shared his background and the journey that led him to Lexaria. He also talked about Lexaria’s business model and the company’s focus on improving the delivery of active pharmaceutical ingredients, vitamins and minerals. In addition, he discussed Lexaria’s ongoing efforts to leverage its innovative drug-delivery platform to improve the effectiveness of orally delivered compounds. “Lexaria Bioscience is a tech company, and we provide really, really interesting solutions to the pharmaceutical industry, as well as nutraceuticals and even delivery of beneficial vitamins and minerals in foods,” said Lexaria Bioscience CEO and chair Chris Bunka in the podcast. “Our technology is all about enabling a much higher fraction and a much smoother delivery of the beneficial substances in the foods you eat and in the drugs you take and, quite frankly, getting them into your bloodstream. With a lot of these compounds and drugs, the vast majority of what you eat or swallow ends up in the toilet, and that’s no good. So we can fix that.”

To view the full interview, visit https://cnw.fm/xmS17

To view the full press release, visit https://cnw.fm/F4s7N

About Lexaria Bioscience Corp.

Lexaria Bioscience’s patented drug-delivery technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting more effective oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bioabsorption with cannabinoids and nicotine by 5 to 10 times as well as reduce time of onset from one to two hours to minutes and mask unwanted tastes. The delivery systems are also being evaluated for orally administered, anti-viral drugs; nonsteroidal, anti-inflammatory drugs (“NSAIDs”); and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 21 patents granted and more than 50 patents pending worldwide. For more information about the company, please visit www.LexariaBioscience.com.

NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://cnw.fm/LEXX

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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420 with CNW — Study Finds That Hemp Compounds Could Block Coronavirus Infection

New research carried out by researchers at the Oregon State University and the Oregon Health and Science University has discovered that some hemp compounds may be able to prevent SARS-CoV-2 from entering cells in the human body. SARS-CoV-2 is the virus that causes the coronavirus infection. The study’s findings were reported in the “Journal of Natural Products.”

Hemp is a strain of the marijuana plant that has been grown for use in various commercial applications. The plant has very small amounts of THC (tetrahydrocannabinol), which is one of the two primary compounds found in cannabis, the other being CBD. Unlike THC, which is a psychoactive that usually induces a high, CBD (cannabidiol) doesn’t possess psychoactive properties. Studies have shown that CBD can help manage depression, anxiety and even seizures.

The researchers discovered that cannabidiolic acid and cannabigerolic acid, which are both compounds found in hemp, can bind to the spike protein that SARS-CoV-2 uses to enter the body, which will help block the virus from infecting individuals. For their study, the researchers conducted an analysis using a mass septectomy-based screening method. Their analysis included different plant-derived compounds that are used as dietary supplements, including licorice, hops, wild yam and red clover. The researchers ranked the compounds based on their affinity to bind with the SARS-CoV-2 spike protein, which led to the discovery of the pair of compounds.

In a statement, Richard van Breemen, the study’s lead researcher, explained that the compounds were abundant in various hemp extracts as well as in the hemp plant, adding that the compounds had a good safety profile in humans, unlike THC, which is a controlled substance. Van Breemen added that the compounds were precursors to hemp-derived substances such as CBG (cannabigerol) and CBD, which are well-known, noting that despite this, the substances weren’t found in many hemp products. The researcher maintained that more studies were needed to discover the right dosage for human consumption of these compounds.

In their report, the researchers highlight that smoking marijuana doesn’t provide any protection from the virus that causes the coronavirus. They explain that the benefit for preventing the infection of cells needs to be derived from cannabinoid acids, which should not be smoked because they are heat sensitive and would be turned into CBD.

A press release from the institution revealed that the research also looked into the effectiveness of these compounds against the alpha, beta and original strains of SARS-CoV-2. However, more recent variants of the coronavirus, such as omicron and delta, weren’t included.

It is exciting to know that so much more about the therapeutic potential of the cannabis products made by established companies such as Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) is still being discovered and documented. It could take many more years before this versatile plant is fully understood.

NOTE TO INVESTORS: The latest news and updates relating to Red White & Bloom Brands Inc. (CSE: RWB) (OTCQX: RWBYF) are available in the company’s newsroom at https://cnw.fm/RWBYF

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420 with CNW — Future Cannabis Impairment Testing May Rely on Brain Scans

Legalizing cannabis has brought forth a ton of benefits: the state-legal industry has created hundreds of thousands of new jobs, generated billions of dollars in revenue and filled state coffers with billions of cannabis tax dollars. This money has been used to fund plenty of social-equity programs designed to help the underprivileged as well as communities that were disproportionately affected by the war on drugs. However, making recreational cannabis legal has made traffic policing much more difficult.

While we have a relatively accurate way of testing how drunk an individual is, no such test exists for cannabis. At best, current tests can tell whether or not you have cannabis in your system, not your level of intoxication. Since THC, the main psychoactive chemical in marijuana can stay in your blood for up to 36 hours and in saliva for up to 48 hours, a joint that you smoked over the weekend could realistically show up in a THC test on Monday night as you leave work.

This is far from ideal. With lawmakers considering federal cannabis legislation, the traffic police will need an accurate means of determining a driver’s level of THC intoxication. Based on a new study from Massachusetts General Hospital, this technology may be based on brain scans. After scanning and analyzing the brain activity of 169 cannabis users before and after giving them either THC or a placebo, the researchers found that by scanning patients’ brains, they could reliably identify those who were intoxicated by determining the presence of THC.

The participants who got THC and reported that they were intoxicated displayed a specific brain activity signature, the researchers say. On the other hand, the participants who received the placebo and reported no intoxication did not exhibit this signature. Finally, the researchers used this data to train computers to recognize the specific brain signature and were able to match participants who self-reported feeling intoxicated with those who were “clinically assessed” as being impaired with 76% efficiency.

The Center for Addictive Medicine’s doctor Jodie Gilman says that while this technology definitely needs more research, the center believes it would be an objective and practical solution to the current THC testing problem. At the moment, available breathalyzer tests only show the presence of THC, not the level of THC impairment; the two are completely different things. Consequently, Gilman says, we are sorely in need of a THC testing method that checks for impairment and doesn’t penalize people for simply using cannabis.

When such an accurate test for marijuana impairment is developed, the entire cannabis sector, including industry players such as BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) could gladly support any action taken to keep impaired people off our roads.

NOTE TO INVESTORS: The latest news and updates relating to BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC) are available in the company’s newsroom at http://cnw.fm/BVNNF

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CannabisNewsBreaks – InMed Pharmaceuticals Inc. (NASDAQ: INM) Expands Rare Cannabinoid Product Portfolio to Launch CBT

InMed Pharmaceuticals (NASDAQ: INM), a leader in the research, development, manufacturing and commercialization of rare cannabinoids, today announced that it has launched B2B sales of the rare cannabinoid cannabicitran (“CBT”) into the health and wellness sector. According to the update, CBT is the first of several new product launches the company has planned for the first half of 2022. “We are delivering on our objective to launch additional rare cannabinoids in early 2022 in response to inbound demand. By midyear, we expect to have at least four rare cannabinoids available for the health and wellness markets, positioning us as a leading large scale supplier of high quality rare cannabinoids in these sectors,” said Shane Johnson, SVP and general manager of INM subsidiary BayMedica. “The launch of CBT further demonstrates our ability to produce rare cannabinoids at commercial scale, an achievement that very few companies have been able to accomplish. We are pleased with initial demand, and we expect to grow sales over the coming quarters as we continue to expand our product portfolio of rare cannabinoids.”

To view the full press release, visit https://cnw.fm/njkXM

About InMed Pharmaceuticals Inc.

InMed Pharmaceuticals is a global leader in the development, manufacturing and commercialization of rare cannabinoids. Together with its subsidiary, BayMedica, the company has unparalleled cannabinoid manufacturing capabilities to serve a spectrum of consumer markets, including pharmaceutical and health and wellness. InMed is also a clinical-stage company developing a pipeline of rare cannabinoid therapeutics and dedicated to delivering new treatment alternatives to patients that may benefit from cannabinoid-based pharmaceutical drugs. For more information, visit www.InMedPharma.com and www.BayMedica.com.

NOTE TO INVESTORS: The latest news and updates relating to INM are available in the company’s newsroom at https://cnw.fm/INM

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420 with CNW — Mississippi Mom Believes Legalizing Medical Cannabis Would Transform Epileptic Daughter’s Health

We don’t know a lot about how cannabis affects the body, although anecdotal accounts and preliminary research shows that cannabis has some therapeutic ability. However, the consensus among most experts is that we need more research on cannabis. In the meantime, what we do know about the controversial plant is significant enough.

Studies have found that cannabis can reduce seizures suffered by children with intractable epilepsy. Furthermore, the FDA has approved a CBD-based drug called Epidiolex to treat two rare and severe forms of pediatric epilepsy: Dravet Syndrome and Lennox Gastaut Syndrome.

Gaining access to such cannabis-based epilepsy drugs is an entirely different story. As it stands, 36 states have legalized medical cannabis use. While that may seem like a lot of states, millions of Americans still cannot access medical cannabis. In Ocean Springs, Mississippi, Allie Byrd waits with bated breath as the conversation around medical cannabis in Mississippi continues. Her five-year-old daughter Avalyn May suffers from an ultra-rare disorder that causes daily seizures and requires a ton of seizure medication to alleviate.

In a Facebook post that has now been shared hundreds of times, Byrd says she noticed something was amiss in 2018. After exhibiting symptoms including chronic vomiting, Avalyn May was diagnosed with a super-rare genetic brain disorder called STXBP1. The condition is so rare that only around 800 children in the entire world have it. Avalyn May has to take 16 pills every day to control the condition. She became a nonverbal child after the seizures started, and although the medications reduce the number of seizures she suffers, they have serious side effects.

After joining a group for parents whose children had the same genetic disorder, Byrd became close to a parent who informed her of THC’s potential in curing seizures. The parent moved to Colorado, where both medical and recreational cannabis are legal, and put her child on a THC treatment. Except for monthly flare ups, the child is “almost entirely” cured of the seizures and doesn’t use any seizure medication. With this information, Byrd hopes that her daughter will also respond positively to a cannabis-based treatment.

Unfortunately, Mississippi still doesn’t have a medical cannabis program. Although voters approved medical marijuana in the 2020 ballot, the vote was overturned by the Supreme Court due to a procedural issue. Governor Tate Reeves and the legislature are currently debating the details of the final medical cannabis bill. If passed, the bill will be life-changing for little Avalyn May, Byrd says. In the meantime, all she can do is hope.

If the cannabis legalization bill is eventually passed, patients such as Avalyn May could potentially benefit by taking their cannabis medicine with the help of state-of-the-art dose measuring devices, such as those commercialized by entities like RYAH Group Inc. (CSE: RYAH).

NOTE TO INVESTORS: The latest news and updates relating to RYAH Group Inc. (CSE: RYAH) are available in the company’s newsroom at https://cnw.fm/RYAH

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420 with CNW — Top National Intelligence Official Eases Cannabis Restrictions on Federal Employees

In a new memo, Avril Haines, director of National Intelligence, stated that federal employers should be discrete when it comes to individuals with marijuana investments in their stock portfolios and shouldn’t flatly reject security clearance applicants over past use of marijuana.

Haines stated that even with more states legalizing cannabis across the country, its use by individuals in positions that required national security clearance remained an area of concern, noting that the herb’s use should be considered in the application process. She explained that the illegal use of the controlled substance could raise security concerns about a person’s trustworthiness and reliability to hold a sensitive position or access classified information, as well as their willingness or ability to comply with regulations, rules and laws.

The internal memo, which was distributed to almost 100 agencies in December 2021 appears to give some leeway on this, stating that while an individual’s past use of cannabis and federal law on cannabis remain relevant, they shouldn’t be the sole determinant on the decision of an individual’s eligibility to hold a sensitive position or access classified information.

This is a major policy development as there has generally been an abstinence requirement for prospective federal workers who require security clearance at different agencies of one to two years.

Haines notes that the policy may be amended further in the future if a change to federal law concerning cannabis use is made. The memo adds that in the meantime, federal employment adjudicators should explore other factors outside the past use of cannabis to determine whether that particular concern should determine an individual’s employment eligibility. These factors may include the likelihood that the person will continue using cannabis and their frequency of consumption.

A spokesperson from the Director of National Intelligence’s office recently revealed that increased legalization of cannabis at the local and state levels had raised questions on how the federal government treated a person’s involvement with cannabis to determine eligibility to access classified information and for national security positions.

With regard to marijuana-related investments, this new memo stated that eligibility to hold a sensitive position or access classified information may be negatively impacted should a person directly and knowingly invest in business ventures or stocks that relate to cannabis retailers and growers, because the growing and distribution of cannabis remains illegal under federal law. The memo notes that despite this, individuals who didn’t invest in the marijuana space knowingly shouldn’t be penalized automatically. It adds that adjudicators should assume that the person didn’t knowingly invest in a cannabis-related business for indirect cannabis investments.

This guidance is likely to bring some relief to individuals who were hesitant to invest in cannabis or cannabis-related companies such as Simply Sonoma Inc. for fear of being penalized by the federal government.

NOTE TO INVESTORS: The latest news and updates relating to Simply Sonoma Inc. are available in the company’s newsroom at https://cnw.fm/Sonoma

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CannabisNewsBreaks – Lexaria Bioscience Corp. (NASDAQ: LEXX) Provides Comments Regarding Study Examining Cannabinoids and SARS-CoV-2

Lexaria Bioscience (NASDAQ: LEXX), a global innovator in drug-delivery platforms, has commented on a recent study that indicated that cannabinoids have the potential to prevent as well as treat infection by SARS-CoV-2. The comments came from lead research scientist Dr. Richard van Breeman, who granted an interview with vice.com discussing the independent study. In his comments, Breemen observed that smoking or vaping of cannabis was likely not effective, but oral delivery was, causing Breeman to recommend oral administration of cannabis compounds. Lexaria is keenly interested in the study because the company is actively engaged in research with its exclusive DehydraTECH(TM)-powered cannabinoid formulations, which include an advanced oral DehydraTECH-CBD formulation. “Lexaria has led the conversation for years related to oral delivery of cannabinoids and is a world-leader through its pioneering drug delivery technology, DehydraTECH, in more effective delivery of cannabinoids to the human bloodstream through oral means,” said Lexaria Bioscience CEO Chris Bunka in the press release.

To view the full press release, visit https://cnw.fm/HA6VH

About Lexaria Bioscience Corp.

Lexaria Bioscience’s patented drug-delivery technology, DehydraTECH(TM), improves the way active pharmaceutical ingredients (“APIs”) enter the bloodstream by promoting more effective oral delivery. Since 2016, DehydraTECH has repeatedly demonstrated the ability to increase bioabsorption with cannabinoids and nicotine by 5 to 10 times — and in some instances by as much as 27 times — compared to standard industry formulations, as well as reduce time of onset from one to two hours to minutes and mask unwanted tastes. The delivery systems are also being evaluated for orally administered, anti-viral drugs; nonsteroidal, anti-inflammatory drugs (“NSAIDs”); PDE5 inhibitors; and more. DehydraTECH has also evidenced an ability to deliver some drugs more effectively across the blood brain barrier. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 23 patents granted and more than 50 patents pending worldwide. For more information about the company, please visit www.LexariaBioscience.com.

NOTE TO INVESTORS: The latest news and updates relating to LEXX are available in the company’s newsroom at https://cnw.fm/LEXX

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CannabisNewsBreaks – Grapefruit USA Inc. (GPFT) Announces Initiatives to Transform into Leading Multinational Cannabiotech Company

Grapefruit USA (OTCQB: GPFT), an innovative California-based cannabiotech company, today outlined its optimism for the new year, execution of existing plans and new initiatives as the company evolves in response to constant, rapid changes in the cannabis sector on its path to becoming a leading multinational cannabiotech. Among the highlights, the company reported that it expects to file for approval of its Notice of New Cannabis Product (“NNCP”) with Health Canada later this week. NNCP approval is a mandatory prerequisite to the launch of sales of Grapefruit’s patented Hourglass time-release, technology-powered THC+CBD-infused topical delivery cream in licensed retail outlets throughout Canada. “2021 was a very complicated year for Grapefruit as we struggled with the difficulties engendered by the simultaneous glut of cannabis flowers, reduction of demand and logistical disruptions caused by the worldwide pandemic,” said Bradley J. Yourist, Grapefruit’s CEO and co-founder. “Nevertheless, the company exhibited its fundamental value and resilience by emphasizing further development of our disruptive Hourglass technology and line of Hourglass-based products. Recently, we have been very busy organizing our strategic corporate plans and initiatives for the new year and beyond. We have put in place foundational initiatives that will transform Grapefruit into a multinational cannabiotech company. While we recognize that our share price has softened over the last few months, we made a conscious decision to not issue any press releases until we felt the time was right. However, now our new initiatives have been formulated and have commenced, our corporate plans are in place, and we will be updating our shareholders with respect to the above articulated points on an ongoing consistent basis so they can share in the excitement and growth of Grapefruit throughout 2022.”

To view the full press release, visit https://cnw.fm/jYHe5

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 and its operations, visit www.GrapefruitBlvd.com.

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