420 with CNW — Forecasts Show States Will Earn Higher Tax Revenues from Cannabis in 2021

Over the past few years, America’s state legal cannabis sector has proven to be both resilient and lucrative. As one of the few industries declared essential during the onset of the coronavirus pandemic, cannabis saw increased sales month over month, providing states with much needed tax revenue at a time when their coffers were running low. More than a dozen states have already legalized recreational marijuana, and this year alone has seen New York, New Mexico, Virginia, and Connecticut pass adult use legislation, bringing the total number of states with recreational markets to 19.

As these recreational cannabis markets mature, experts predict that states will earn higher tax revenues thanks to increased sales. In 2020, California plus Colorado earned the most excise tax revenue from cannabis, earning $526 million and $307 million, respectively. According to projections for 2021, California and Colorado are expected to collect an estimated $757 million and $411 million in excise tax revenue, respectively. Alaska and Michigan, which collected the lowest excise tax revenue at $25 million and $31 million, are projected to earn $29 million and $75 million this year.

Cannabis is one of the fastest-growing sectors in the country currently generating billions in sales revenue and creating hundreds of thousands of jobs. The industry will most likely experience significant growth within the decade, especially with lawmakers initiating the process to deschedule cannabis at the federal level. Understandably, states that haven’t launched their own cannabis markets and even those with existing markets would want to cash in via cannabis taxes.

However, state regulators will have to ensure cannabis remains price competitive. Despite generating billions of dollars in cannabis sales, the industry is still plagued by the illicit market. Levying high taxes would increase the price, pushing customers to black market dealers who price their cannabis much more competitively. Colorado and Washington tax recreational cannabis via an ad valorem excise tax, which is based on the value or the cannabis. In California, cannabis is taxed with based on both an ad valorem and specific tax.

New York and Connecticut, which are some of the latest states to join the adult-use club after legalizing recreational marijuana this year, are among the only states with a potency-based tax. This tax is meant to address the possible harms that come with higher THC levels, and it would increase as the THC levels increase.

Illinois has a similar category-based tax system where cannabis flower is taxed at 10%, edibles at 20% and concentrates at 25%. As both the fledgling and older cannabis spaces mature, revenues are projected to increase.

All 19 states with recreational markets can expect increased cannabis tax revenues in financial year 2021. As those tax dollars grow, the unspoken message is that many cannabis sector players, including Grapefruit USA Inc. (OTCQB: GPFT), will also earn higher revenues and possibly improve their profitability.

NOTE TO INVESTORS: The latest news and updates relating to Grapefruit USA Inc. (OTCQB: GPFT) are available in the company’s newsroom at http://cnw.fm/GPFT

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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CannabisNewsBreaks – Grapefruit USA Inc.’s (GPFT) Hourglass Stands Distinct in the Market

Grapefruit USA (OTCQB: GPFT) holds permits and licenses to both manufacture and distribute cannabis products throughout the state of California. “Grapefruit’s flagship product — Hourglass time-release delivery cream — features cutting-edge science and technology that solve the age-old problem of THC and other cannabinoids not being easily absorbed through the skin,” reads a recent article discussing the company and its innovative product. “The topical cream uses patented microsized particles to slowly deliver THC and a wide range of cannabinoids through skin topical administration. No other topical cream product on the market provides users with the holistic benefits of the range of cannabinoids found in Hourglass.”

To view the full article, visit https://cnw.fm/JIfSt

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://cnw.fm/GPFT

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)

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CannabisNewsBreaks – Grapefruit USA Inc.’s (GPFT) Hourglass(TM) Products Hit the Shelves in One Plant Dispensaries Throughout California

Grapefruit USA (OTCQB: GPFT), a premiere California-based cannabis and hemp company, today announced that One Plant’s eight retail cannabis dispensaries from the California counties of Santa Barbara to Santa Cruz are all now featuring Grapefruit’s Hourglass(TM) Time-Release THC+CBD Delivery Topical Relief Cream. “It is gratifying that we have been able to place the company’s Hourglass products in the One Plant dispensaries throughout California, after months of COVID–related delays,” said Bradley J. Yourist, Grapefruit’s CEO and co-founder. “Grapefruit is confident that as we continue to educate licensed cannabis retailers about the many benefits of the Hourglass time-release THC and cannabinoid delivery system that we will be able to distribute Hourglass time-release topical cream to the many hundreds of retail cannabis stores throughout California over the coming quarters. We believe the One Plant placement is only the start of a trend which will allow Grapefruit to quickly grow Hourglass brand awareness and Grapefruit revenues. We know the patented Hourglass time-release topical delivery system not only works effectively, but is the most effective in the world. We are excited to accelerate the rate at which we deliver the Hourglass technology to our customers that have demonstrated a pressing need for it.”

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

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.

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

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)

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420 with CNW — Cannabis Sales Continue to Increase as COVID-19 Restrictions Are Lifted

The sales gains recorded in the marijuana industry after business lockdowns following the 2020 pandemic seem to be long term, with executives noting that the pandemic may have produced a new group of consumers who are trying out or using cannabis to relieve stress among other reasons. Industry executives forecast that as the U.S. economy slowly reopens and people are allowed to begin taking trips and visiting restaurants and stores, consumers of marijuana will shift their purchases in favor of discreet consumption forms such as vape pens and edibles.

A study that was conducted recently by the National Federation of Independent Business found that the small-business optimism index had grown by almost three points last month, hitting 102.5. This is the first time the index has gone above 100.

C3 Industries CEO and co-founder Ankur Rungta stated that the marijuana industry was continuing to develop, adding that he viewed the surge in sales during the pandemic lockdown period as the new baseline. C3 Industries is a vertically integrated cannabis firm in Michigan that also has operations in the state of Oregon. Rungta noted that the cannabis industry gained a lot of new customers during the pandemic, which led to marijuana acceptance increasing.

During the coronavirus lockdown, marijuana companies saw record sales across almost every state market in the country. At the time, marijuana business owners attributed the increase in sales to individuals spending their stimulus checks on marijuana while staying home, instead of engaging in other recreational activities such as traveling, going to the movies or visiting restaurants.

Now that restrictions in various states have been lifted or paused, cannabis companies expect customers to begin buying items such as vape pens, which are easier to use and more convenient for traveling. They also expect to see an increase in in-person shopping.

Michael Perlman, executive VP of investor relations and treasury at Jushi Holdings, says that as consumers become more comfortable with travellng and dining out, the company has observed an increase in activity around and in their downtown dispensary locations, which it attributes to overall increase in foot traffic. Jushi Holdings is a multistate cannabis company based in Florida that has dispensary locations in about half a dozen states.

Data released by Headset, a cannabis analytics firm based in Seattle, also shows that while recreational cannabis sales in some states has begun to flatten, sales still remain above levels recorded a year ago. For instance, adult-use cannabis sales in the state of California declined by 0.8% in May before increasing in June, with data showing that sales were still up by 10% in comparison with 2020’s sales in June.

Players in the cannabis sector such as Grapefruit USA Inc. (OTCQB: GPFT) may also need to be credited for this positive trend of marijuana sales since consumers spend on products they deem to be of an acceptable quality and price.

NOTE TO INVESTORS: The latest news and updates relating to Grapefruit USA Inc. (OTCQB: GPFT) are available in the company’s newsroom at http://cnw.fm/GPFT

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

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420 with CNW — California Launches Cannabis Agency to Ease Industry Regulation

America’s state legal cannabis sector has seen major growth in the past few years as more states have legalized cannabis. California, which legalized recreational marijuana five years ago, has since sold $4.4 billion worth of cannabis, making its cannabis sector one of, if not the most,  successful cannabis markets in America. Now in a move that is meant to simplify how California regulates its massive and swiftly growing cannabis space, Governor Gavin Newsom has signed a law creating a single agency to regulate cannabis.

The policy, which Newsom first proposed in January 2020, will consolidate licensing authority from the three departments responsible for regulating California’s cannabis space: the Manufactured Cannabis Safety Branch under the Department of Health, the Bureau of Cannabis Control under the Department of Consumer Affairs, and CalCannabis under the Department of Food and Agriculture. Under the new law, a single Department of Cannabis Control will now handle the licensing, enforcement and environmental oversight duties that these three department were previously tasked with.

According to the budget summary for Newsom’s 2020–2021 budget plan where he introduced the new policy, a single department for cannabis regulation that would “centralize and align critical regulatory functions.” Additionally, it would create a single point of contact for individuals within the cannabis space as well as local governments rather than three different departments. The Department of Cannabis Control (“DCC”), which is under the Business, Consumer Services and Housing Agency, will also be in charge of California’s track and trace system, which follows cannabis and cannabis products through the state’s legal supply chain.

Lindsey Robison, executive director of the California Cannabis Industry Association, which represents more than 400 licensed cannabis enterprises, has applauded the new law. She says navigating three agencies with different protocols and processes has often been a bone of contention for many cannabis businesses, and having all their functions housed under a single agency will help with communication, transparency and, hopefully, process times for applications.

According to the acting deputy director of the DCC Christina Dempsey, Newsom’s administration wants to make the legal market more attractive than the illicit market. Despite having one of the largest cannabis industries in the country, California is still plagued by the cannabis black market. Not only do illegal cannabis grows deprive the state of tax revenue, but they also steal tons of water and electricity and are responsible for violence, forced labor and the destruction of the ecosystem.

Employees of the three agencies will continue using their offices until further notice. In addition, because existing licenses will be transferred to the DCC, cannabis businesses will not need to apply for new licenses until existing licenses expire. Furthermore, law enforcement and local government will continue working with their existing contacts, and policies for grant funding for researchers will remain the same. The Department of Cannabis Control will reside at 2920 Kilgore Road in Rancho Cordova.

It remains to be seen how the new agency will make it easier for cannabis companies in California, such as Grapefruit USA Inc. (OTCQB: GPFT), to interact with regulators and comply with all the existing laws governing the industry.

NOTE TO INVESTORS: The latest news and updates relating to Grapefruit USA Inc. (OTCQB: GPFT) are available in the company’s newsroom at http://cnw.fm/GPFT

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

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CannabisNewsBreaks – Grapefruit USA Inc. (GPFT) Shares Insta Message from ELove: ‘Best Thing on the Market’

Grapefruit USA (OTCQB: GPFT), a premiere California-based cannabis and hemp company, and its flagship product, Hourglass THC+CBD Patchless Patch Topical Cream, has received an Instagram endorsement from Grammy Award-winning writer, producer and director Damien Matthias, known as ELove. ELove has performed and co-produced with LL Cool J, one of Def Jams Records’ first artists. He also played a key role in launching the careers of Tupac Shakur and John Forte of the Fugees and was integrally involved in the pre-internet marketing team of Def Jam Records, one of the most successful independent labels of all time. Hourglass, the best thing on the market. You have any kind of discomfort, this right here is filled with CBD, and it actually works. Best thing on the market, no doubt,” said ELove in the Instagram post.

To view the full message, visit https://cnw.fm/tLidf

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://cnw.fm/GPFT

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

Do you have questions or are you interested in working with CNW? Ask our Editor

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CannabisNewsBreaks – Grapefruit USA Inc. (GPFT) Pioneering Future-Looking Ideals and Products

Grapefruit USA (OTCQB: GPFT), a fully licensed premier manufacturer and distributor in the legal cannabis marketplace, is committed to being an industry leader by using science and technology to create truly disruptive products for both the recreational and medicinal cannabis marketplace. GPFT recently announced that it is accepting cryptocurrency as payment for its full-spectrum THC Hourglass time-release technology-powered products through its newly launched e-commerce platform, joining other leaders in the cannabis space in paving the way. A recent article reads, “Grapefruit is building a well-earned reputation for pioneering future-looking ideals and products. The company’s flagship product features cutting-edge science and technology that solves the age-old problem of THC and other cannabinoids not being easily absorbed through the skin. Grapefruit’s Hourglass topical cream uses patented micro-sized particles to slowly deliver THC and a wide range of cannabinoids through skin topical administration. No other topical cream product in the market provides users with the holistic benefits of the range of cannabinoids found in Hourglass, including THC+CBD, CBN, CBG, Delta8, THCV and CBE.”

To view the full article, visit https://cnw.fm/Z7C8D

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://cnw.fm/GPFT

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

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420 with CNW – National Hemp Month: What You Need to Know About This Celebration

After decades of prohibition, the 2018 Farm Bill legalized the cultivation and sale of industrial hemp and its derivatives. Less than five years later, hemp has become a booming industry: hemp lends itself to a wide variety of industries, from health and wellness and nutrition to textiles and construction. The global hemp industry is growing rapidly, with experts expecting it to be worth $36 billion by 2026.

But unbeknown to many, despite all the mainstream attention hemp has been getting, July is National Hemp Month, with July 17–23 being Hemp History Week. National Hemp Month was initiated by cannabis firm cbdMD on Feb. 4, 2019, to clear up the myths and misconceptions surrounding hemp-based products and promote their benefits. Conversely, Hemp History Week is hardly new, having been initiated nearly 11 years ago when Vote Hemp and the Hemp Industries Association felt that it was time to start celebrating hemp’s rich history.

While most Americans only became aware of hemp once the 2018 Farm Bill legalized it and products made from hemp-derived CBD (cannabidiol) became increasingly popular, hemp has been part and parcel of America’s history since before the country’s founding. Back when the American colonies were under British rule, hemp products were in high demand, and soon Americans were manufacturing their own hemp products and steadily importing less from Britain. In the early 1700s, spinners and weavers from Ireland showed the locals how to make even finer hemp fabrics, and in 1765, the Boston Stamp Act led to the boycott of British products.

This left the supply of hemp products in the hands of the colonists, who were soon making clothes, paper, currency, ropes and even ship sails out of hemp. However, more than a century later, the Bureau of Prohibition outlawed hemp in the 1930s, a move that many historians suspect had economic and political ties to cotton, timber and cannabis. Hemp and cannabis were demonized in the public’s eyes, often treated as the same plant, and until 2018, hemp was illegal.

National Hemp Month is aimed at teaching the public this rich history, especially regarding the important role hemp played in America’s early days. On top of that, it is meant to spread word of hemp’s environmental, sustainability and health benefits, its potential for regenerative agriculture, and how technological advancements have widened the scope of what hemp can do. While the hemp sector has made great strides since 2018, it still has a long way to go. cbdMD and the entire industry hopes that by increasing awareness of hemp’s benefits, teaching its rich history and dispelling the myths surrounding it, hemp can regain some of the glory it once had.

This month provides an opportunity for all companies with an interest in the hemp sector, including Grapefruit USA Inc. (OTCQB: GPFT), to reflect on how far the industry has come and what more needs to be done to address the challenges it still faces.

NOTE TO INVESTORS: The latest news and updates relating to Grapefruit USA Inc. (OTCQB: GPFT) are available in the company’s newsroom at http://cnw.fm/GPFT

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.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CNW420.com

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW420, wherever published or re-published: http://CNW.fm/Disclaimer

Do you have questions or are you interested in working with CNW420? Ask our Editor

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CannabisNewsBreaks – Grapefruit USA Inc. (GPFT) Issues Statement on Senators Proposed Act to Legalize Cannabis

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://cnw.fm/3CtXv

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

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 — An Overview of CBD Patches Used for Pain

Cannabidiol, a nonpsychoactive cannabinoid produced by hemp and cannabis, has been receiving plenty of mainstream attention lately because of its supposed medicinal properties. Anecdotal claims as well as preliminary studies say that it can treat everything from anxiety and insomnia to chronic pain and epilepsy, but its ability to alleviate pain has taken center stage. Several studies, most of them on animals, have found that CBD can treat pain caused by numerous medical conditions.

Cannabidiol itself can be consumed in a wide variety of ways, but when it comes to treating pain, CBD patches take the cake. These transdermal patches are infused with CBD and applied to the skin, where they slowly release cannabidiol into the bloodstream. Not only are the patches a discreet way of taking cannabidiol, allowing users’ systems to get a steady infusion dose of the cannabinoid for extended periods, but they are also the perfect option for individuals who don’t want to smoke, vape or consume edibles. Of all the available CBD consumption methods, CBD patches are probably the best way to deal with localized pain.

The patches deliver CBD directly to the bloodstream through the skin, making them perfect for people who want quick pain relief. While ingestibles such as gummies or oils will produce much more intense effects when consumed, they usually take time before they kick in. And since edibles first have to go through the stomach then the liver, some CBD is usually lost in the process, unlike CBD patches, which deliver 100% of the cannabidiol they hold. These patches also contain some permeation enhancer to help increase the skin’s permeability and allow it to absorb as much CBD as possible.

For those who are facing sustained pain, CBD patches can provide a great deal of relief. Since they release CBD slowly throughout the day, users experience sustained pain relief over a longer period. On the other hand, other topical options such as CBD massage oils and creams may offer relief for a short time, with the effects tapering off once the CBD is absorbed by the skin. Consequently, these methods would require several applications per day to offer sustained relief.

Cannabidiol seems to be a promising pain reliever, and research has found that it reduces pain in two ways. Firstly, it interacts with the endocannabinoid system to block off receptors for several types of pain, making it effective against hard-to-treat conditions such as nerve pain. Secondly, it has powerful anti-inflammatory properties, which allow it to combat inflammation in the body and reduce pain caused by inflammation. Combined with a CBD patch’s transdermal delivery, CBD can be quite effective at alleviating inflammation, localized pain and nerve pain.

As innovation in this space increases, seeing cannabis firms such as Grapefruit USA Inc. (OTCQB: GPFT) are developing time-release delivery systems that allow cannabinoid-based creams to release their contents over a longer period of time, rivaling patches.

NOTE TO INVESTORS: The latest news and updates relating to Grapefruit USA Inc. (OTCQB: GPFT) are available in the company’s newsroom at http://cnw.fm/GPFT

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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