420 with CNW — Supreme Court Justice Slams Federal Cannabis Policy as Unstable, Contradictory

Until a decade or so ago, America’s policy on cannabis had been outright prohibition. Marijuana was illegal to grow, produce or sell in nearly every state, and individuals who participated in any of these activities were subject to intense policing and harsh sentencing. Now more than 30 states allow some form of cannabis, and the industry has employed hundreds of thousands and provided states with millions of dollars in tax revenue.

However, federal law still classifies marijuana as a Schedule I controlled substance, similar to hard drugs such as cocaine and heroin. Additionally, most states have different cannabis regulations, and what is allowed in one state may be illegal in another. Consequently, this has led to a mismatch between federal law and a patchwork of state law, with state-legal businesses being forced to navigate an extremely tricky legal environment.

This week a conservative U.S. Supreme Court Justice slammed America’s federal policy on cannabis, calling it unstable and contradictory and suggesting that outright federal prohibition of the controversial drug may even be unconstitutional. Justice Clarence Thomas specifically talked about the 2005 Gonzales v. Raich ruling, which determined that since the federal government had the authority to regulate interstate commerce, it could enforce prohibition policies against cannabis cultivation in California.

However, he says, federal policies have undermined this ruling in the 16 years since it was passed. The federal government’s approach to cannabis has since been a “half-in, half-out regime,” he says, with the federal government seeming to both allow and forbid local cannabis use. Not only does this strain the credibility of federal law, but it also hides traps for unwary cannabis businesses that might think they are acting lawfully based on the federal government’s previous actions, only to find themselves facing repercussions.

Since the Gonzales v. Raich ruling, the government has sent mixed signals regarding cannabis. For instance, a spending bill rider that has been approved repeatedly forbids the Justice Department from using its funds to interfere with state-legal medical marijuana programs. Additionally, Obama-era memorandums by the Justice Department state that the government would “tolerate” certain cannabis-related activities as long as they are lawful in the state in which they occur. Federal prosecutors were also instructed not to pursue low-level cannabis offenders, contrary to federal law.

Thus, he says, these actions may lead the ordinary person to believe that the federal government has reversed its prohibitionist policies when it hasn’t. The mismatch between federal and state law has also prevented cannabis businesses from accessing financial services, despite being legal entities that pay tax. Most of them are forced to operate on a cash-only basis, which puts them at risk of burglaries and robberies. In conclusion, Thomas said that outright prohibition may no longer be a proper approach.

The comments of the Justice of the Supreme Court give a voice to what the entire cannabis sector, including companies such as Grapefruit USA Inc. (OTCQB: GPFT), feel about the contradictions between federal and state marijuana policies.

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. (GPFT) Announces Strategic Deal, Start of Trend to Grow Hourglass(TM) Brand

Grapefruit USA (OTCQB: GPFT), a premiere California-based cannabis and hemp company, today announced that Captor Capital Corp.’s (CSE: CPTR) (Frankfurt: NMVA) (Stuttgart: NMVA) retail dispensaries will all feature GPFT’s Hourglass(TM) Time Release THC+CBD Delivery Topical Relief Cream commencing this week. Captor, a vertically integrated cannabis company that cultivates, manufactures and distributes recreational and medical marijuana-based products, owns eight retail cannabis dispensaries from Santa Barbara County to Santa Cruz County, California. “Over the last 15 months, Grapefruit has been hampered from effectively distributing our Hourglass topical relief cream to new retail cannabis outlets due to the COVID-19 lockdown. Now that the lockdown is over, GPFT is able to effectively distribute Hourglass products throughout California,” said Bradley J. Yourist, Grapefruit’s CEO and co-founder. “Grapefruit is confident that as we educate licensed cannabis retailers about the many benefits of the Hourglass time-release delivery system, we will be able to distribute cannabis products based on the Hourglass delivery system to the many hundreds of retail cannabis stores throughout California over the coming quarters. We believe the Captor deal is only the start of a trend that 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/CU0s9

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.

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420 with CNW — Researchers Develop Peptide That Allows Medical Cannabis to Alleviate Pain Without Inducing Side Effects

Researchers have created a peptide that can allow THC to combat pain without inducing the side effects it causes, as observed in mice. This could potentially bring relief to many individuals living with chronic pain and who have no access to medical marijuana.

Data from the CDC shows that nearly 20% of grownups in the United States suffered from chronic pain in the year 2019.

Opioids are the primary medication prescribed for severe pain management and are effective. However, they are easily addictive which has prompted many physicians to stop prescribing them, leaving patients who suffer from chronic pain with fewer options.

The study findings were published in the American Chemical Society’s Journal of Medicinal Chemistry.

Prior studies have shown that medical cannabis can be useful in alleviating pain from cancer, neuropathy and migraines, as well as other conditions. However, the side effects observed present issues for the herb’s extensive use as a therapeutic.

Before the study, scientists had discovered a pair of peptides that interrupt interactions between a receptor that binds a neurotransmitter which regulates memory, learning among other cognitive functions as well as serotonin and another receptor that THC targets.

During their study, the researchers injected the peptides into the brains of mice, noting that some of the mice used had lesser memory problems that had been brought about by the THC.

The team, which was made up of researchers like David Andreu and Rafael Maldonado, worked to enhance these peptides by making them orally active, more stable, smaller and able to cross the brain-blood barrier.

To do this, the scientists developed optimized peptides that could still bind to receptors among other things but were smaller in length, in comparison with the original ones. They also used the data obtained from molecular dynamic simulations to improve the peptide sequences for stability, enhanced cell entry and capacity to cross the blood-brain barrier.

After this, the scientists orally administered the peptide to the mice and also injected them with THC, before testing the mice’s memory and pain threshold.

The researchers discovered that the mice that received the optimized peptide and the THC formulation had their pain alleviated in addition to demonstrating improved memory, in comparison with mice that had been treated with the THC formulation alone.

They also found that multiple treatments using the peptide didn’t elicit an immune response. The researchers’ discoveries suggest that the optimized peptide was an ideal candidate for decreasing the cognitive side effects from marijuana-based pain management.

Such studies confirm that the people who have been buying medical marijuana products manufactured by firms like Grapefruit USA Inc. (OTCQB: GPFT) were not disguised recreational users but instead had real medical concerns they needed to address.

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)

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CannabisNewsBreaks – Grapefruit USA Inc. (GPFT) Finalizes NDA with 6PAK Solutions Canada, Plans to Launch Product in Canada

Grapefruit USA (OTCQB: GPFT), a premiere California-based cannabis and hemp company, has partnered with 6PAK Solutions Inc., a leading Canadian cannabis manufacturer and arm of ATG Pharma Inc. The two companies have signed an NDA and are working together to distribute Grapefruit’s patented Hourglass(TM)Time Release THC+CBD Delivery Topical Relief Cream throughout Canada. According to the announcement, Grapefruit plans to file a Notice of New Cannabis Product (“NNCP”) with Health Canada; the notice includes specific information regarding the Hourglass production process. Once GPFT receives NNCP approval, the company anticipates launching its Hourglass Time Release THC+CBD Delivery Cream across Canada. “We are very encouraged by 6PAKS’ decision to form an alliance with Grapefruit to take the initial steps toward obtaining Canadian regulatory approval to bring Grapefruit’s patented time-release THC+CBD topical delivery cream to all Canadians,” said Grapefruit CEO and co-founder Bradley J. Yourist in the press release. “6PAK Solutions’ expertise in this area is unrivaled and assures Grapefruit will bring a fully compliant cannabis product to market in Canada. 6PAK is also a subsidiary of ATG Pharma, Inc., a leader in regulatory compliant filling and packaging for the cannabis industry in Canada, so we are in good hands indeed. Our team looks forward to working with Chris Shar and his team in the coming weeks to achieve our corporate goal of introducing Hourglass™ across the entire nation of Canada in the third quarter of 2021.”

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

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 CanadianCannabisWire

CanadianCannabisWire (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 — More American Adults Are Suffering from Chronic Pain, New Study Finds

Chronic pain is one of the most common medical issues Americans face, and it has become even more prevalent in the last decade. Although significant resources have been directed toward treating and finding ways to prevent serious illness, with the United States spending $194.2 billion on medical and health research and development in 2018, chronic pain hasn’t received much attention. This is despite the fact that more than 20% of American adults are affected by chronic pain, with a new study finding that the rates of chronic pain have been steadily increasing across all adult demographics.

Published in the journal “Demography,” the study pointed out that although chronic pain has been on the rise across all demographics of U.S. adults, it is more prevalent in adults from lower socioeconomic backgrounds. Researchers looked at data sources from the National Interview Survey, which ran from 2002 to 2018. An estimated 19,040 to 33,149 people responded each year, adding up to a total of 441,707 people over the survey’s entire 16-year run. With such an immense data set at their disposal, the researchers were able to study various aspects of the participants’ health.

For instance, survey respondents were asked about five common sites of pain — the joints, lower back, neck, jaw and face — and where they felt the most pain. Additionally, the survey provided tremendous amounts of data on the participants’ age, gender, race, ethnicity, education, income, social and economic status. After studying the data extensively, researchers found that the prevalence of chronic pain had increased more for older adults and Black, less-educated males with lower incomes. Conversely, the prevalence had increased at lower rates for white, more-educated females with higher incomes.

Despite these disparities, the consensus was that there was an increase in chronic pain across the board, regardless of social or economic status, says study co-author and associate professor of sociology at the University of Buffalo College of Arts and Sciences Dr. Hanna Grol-Prokopcyzk. There was a 10% increase in pain in at least one of the five common sites during the study’s 16-year run, representing 10 million more adult Americans. At the start of the study in 2002, the lower back and the joints were the most prevalent pain sites, and this remained the same by the time the study drew to a close in 2018.

For individuals aged 65 to 85 years, chronic pain was often associated with physical health issues such as diabetes, kidney issues, hypertension, and high body mass index. On the other hand, chronic pain in younger and middle-aged individuals was more associated with mental health issues such as stress and often led to alcohol abuse. According to Grol-Prokopcyzk, pain is one of the leading causes of disability, and their findings prove that it should be treated as a public health issue. Not only does it affect the quality of life of those it affects, but it can also have an impact on overall life expectancy, she says.

These statistics show that medical marijuana sector players such as Grapefruit USA Inc. (OTCQB: GPFT) have their work cut out for them as they work to develop products that can alleviate chronic pain so that fewer people have to resort to opioids.

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) CEO to Discuss Disruptive Products Harnessing Cutting-Edge Science and Tech in ‘New to the Street’ Interview

Grapefruit USA (OTCQB: GPFT), a California-based hemp and cannabis company, will be featured in FMW Media’s “New to the Street” / Newsmax TV’s Sunday, June 20, 2021, broadcasting lineup of its national syndicated one-hour show airing at 10-11 a.m. ET. Grapefruit USA’s CEO Bradley Yourist will be among the eight interviews with business representatives from various innovative companies. Yourist will discuss Grapefruit USA’s permits, patents, licenses, manufacturing, laboratory, and distribution of cannabis products, as well as its Hourglass(TM) brand. Grapefruit delivers hemp-derived and cannabis products that have fundamentally changed the way individuals use THC and CBDs, capitalizing on rising demand for these unique products. “Our patented Hourglass topical creams have solved the inherent difficulties of efficient skin absorption of THC and cannabinoids, such as CBD, CBN, CBG, and CBC as well as Hemp-derived CBDs and cannabinoids,” Yourist says. “The architecture of Hourglass cream gives us the ability to formulate endless variations of our topical delivery cream to tailor to the specific needs of our clientele. We have harnessed cutting-edge science and technology to bring patented; truly disruptive products to the medicinal and recreational marketplace.”

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

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 — UC San Diego Research Explores Cannabis Use Against Migraines

Long before America had a growing state-legal cannabis sector, regular users claimed the controversial drug was a great pain relief option. With more than 30 states now allowing the use of medical marijuana, thousands of patients have been able to get a taste of cannabis’ alleged pain-relief abilities. However, due to marijuana’s controlled status at the federal level, researchers have been unable to have a more conclusive look at its purported medical abilities — until recently.

Now, a group of researchers at UC San Diego is taking advantage of its state’s pro-cannabis legislation to launch the first placebo-controlled study into how migraines react to different cannabis strains. The Centers for Disease Control and Prevention (“CDC”) estimates that approximately 15.3% of the American population suffers from migraines, with pharmaceuticals being the only treatment option. Although plenty of users claim that cannabis works just as well as pharmaceuticals against migraines, research has been severely limited because the substance is still illegal at the federal level.

However, California allows both recreational and medical cannabis, and the team from UC San Diego is taking advantage of the situation. Led by Dr. Nathaniel Schuster, the researchers have been working with government authorities for several years to obtain the approval they needed. With the government also supplying medical-grade cannabis to be used in the study, the researchers give participants four different doses, each to be used on a separate kind of headache.

Each participant will be given a dose of cannabis with THC, one with a CBD/THC blend, one with just CBD and one with a placebo. They will not know what is contained within each dose, Schuster explains, and they will record their results with each dose via an app. Up to 30% of medical marijuana users take cannabis to alleviate some form of headache, says Schuster, who  hopes his study will finally provide concrete data behind the escalating practice of using cannabis for pain relief.

Dr. Jack Schrim, co-director of the Headache Center of Southern California, is a big fan of the study, and he has already referred several patients who wish to take part. Although many of his patients have asked him about using cannabis to alleviate their migraines, he is often unable to make any recommendations because there is little scientific data in the area. Fortunately, the UC San Diego study seeks to provide this information, and study results will help society better understand the link between cannabinoid receptors and cannabis treatments.

Individuals who wish to participate in the study must be affected by migraines at least once a month, and they cannot be regular cannabis or opioid users. If you meet these requirements, you can contact the Research Coordinator Phirum Nguyen at psnguyen@ucsd.edu or 858-822-3108.

Cannabis firms that serve both the recreational and medicinal cannabis markets, such as Grapefruit USA Inc. (OTCQB: GPFT), are likely to see an uptick in sales if this research finds conclusive evidence of the claims that marijuana has migraine-relieving properties.

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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420 with CNW — Four Predictions for Niche Cannabis Products in 2021

The state-legal cannabis industry has had a fantastic run over the past decade. More than 30 states have passed either recreational or medical cannabis legislation so far, and the sector has created thousands of new jobs and brought in billions of dollars in revenue. As several states consider passing cannabis legislation this year and lawmakers mull over federally decriminalizing cannabis, the industry is poised to grow even more.

Niche cannabis products especially are a space that is going to explode as the industry becomes older and more mature. The following are four trends that may gain more steam as the year progresses:

Terpenes will gain more visibility. Everyone knows about THC, the main psychoactive component in cannabis, and CBD, a cannabinoid with great medical potential. Alongside flavonoids and esters, terpenes are responsible for the cannabis’ strong aromas, and they work together with cannabinoids for a more wholesome effect. However, although most brands do not contain or display terpene levels, this will soon change as people become more aware of their presence and significance.

As the science evolves and catches up, we will soon see sellers employ labs to test for terpenes, flavonoids and esters, and display this information on their packaging. Companies that do this will differentiate themselves from their competition and attract customers who are looking for products with a more wholesome terpene profile.

Market differentiation will also become a reality as the industry matures. Right now, most consumers have trouble identifying a single brand, especially based on their products. But as the industry opens up, we will see the entrance of more sellers with niche, identifiable products. Consumers will soon be able to distinguish between mass-market cannabis and craft cannabis from smaller niche companies.

Consumers’ knowledge and expectations are bound to increase as the industry ages. With some states such as California having launched legal recreational markets years ago, their consumers are more educated and more demanding than they were when adult-use cannabis was newly legal. They will want to know where the cannabis they are purchasing was grown, what exactly is in it and whether it is organic. Consequently, we can expect the introduction of organic equivalent certification, especially for craft and niche cannabis producers, as in the wine industry.

Finally, the low-THC market will see major growth. Anyone who consumed cannabis 10 to 20 years ago knows that cannabis has become a lot more potent these days. But not everyone is a fan of cannabis with 20% THC, and sellers are soon going to target this growing market segment. These consumers tend to be older individuals with more disposable income, so the market is sure to see exponential growth as breeders and growers provide more low-THC options for them.

These predictions aren’t far-fetched when you think about them, especially when you see that companies such as Grapefruit USA Inc. (OTCQB: GPFT) have made significant strides in growing their niche brands.

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) Releases Q1 2021 Financial Numbers, Chooses SRAX Inc. (NASDAQ: SRAX) as Communications Partner

Grapefruit USA (OTCQB: GPFT), a California-based cannabis company, has partnered with SRAX Inc. (NASDAQ: SRAX), an investor relations and communications marketing firm, to strengthen its brand and product line as well as increase awareness of its new e-commerce site and related affiliate program. In the announcement Grapefruit cited SRAX’s novel data-driven approaches to marketing and the company ability to create awareness of stock as key factors in its decision. In addition, the company has filed its quarterly report for the period ended March 31, 2021. The report included disappointing numbers for the company, including net revenues of $350,815, a decrease of 10% over revenues of $393,559 for the three months ended March 31, 2020. In the announcement, the company pointed to a strong cannabis harvest in fourth-quarter 2020 and early 2021 cannabis as a contributing factor behind the reduction in revenues, noting that the harvest drove down wholesale cannabis prices and limited the profitability of GPFT’s distribution and trading operations. As a result, Grapefruit limited distribution and trading efforts, focusing more on improving upon and launching its Hourglass products. The company anticipates those efforts will result in significantly higher Hourglass-related revenues through the remaining quarters of 2021 and into 2022. GPFT also expects is newly launched ecommerce site and affiliate program to fuel the company’s revenues moving forward. “We are obviously dissatisfied with the small revenue decrease year over year for the first quarter,” said Grapefruit CEO Bradley J. Yourist in the press release. “However, we adjusted by decreasing our less-profitable distribution and trading activities, which we can switch on at a moment’s notice when the seasonal aspect of the wholesale cannabis business adjusts, and profitable distribution and trading opportunities present themselves during the remainder of the year as they inevitably do. Furthermore, as our wholesale and retail Hourglass THC/cannabinoid and THC-free hemp derived CBD products sales take off in the remainder of 2021 and beyond, the increased revenues they generate will mitigate the overall revenue impact of the seasonality of the distribution and trading operations. Getting to that point as quickly as possible is one of our primary goals, and as we always do, we will attain it in the near future.”

To view the full press releases, visit https://cnw.fm/nwdXd and https://cnw.fm/cfWU9

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.

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420 with CNW — Worldwide Increases in Lumber Prices Could Boost the Hemp Industry

Talk about construction and you inevitably end up talking about lumber. Lumber has for long been a popular and essential construction material, with concrete taking pole position on the most popular material list. Everything from houses, bridges and even wagons have been fashioned out of wood, and each culture has its own unique products made from wood. However, all that is now being threatened by the skyrocketing price of lumber, and hemp may come to the rescue.

Visit any lumberyard to buy pieces of timber, and chances are you will suffer a case of sticker shock. Using data from NASDAQ as a case in point, the price of lumber almost tripled in 2020. Fortunately for the global construction industry, an ecofriendly alternative to lumber exists: hemp.

Interestingly, most people immediately think of cannabidiol (“CBD”) when hemp is mentioned. This is because the past couple of years has seen interest in CBD skyrocket, and most CBD is extracted from hemp since hemp is federally legal because it has only miniscule quantities of THC, the compound which makes users of marijuana high. Hemp and marijuana belong to the same cannabis family.

Some people are aware that clothing, rope and paper can also be processed from hemp. However, another application of hemp — using it as a construction material — is likely to grow in popularity partly as a result of the rate at which lumber prices are rising.

For starters, the woody fibers found inside the hemp plant can be processed into hemp boards. These boards are similar to the boards made from wood. Hemp can also be made into “hempcrete,” an ecofriendly alternative to concrete. Hempcrete has a number of benefits, including its resistance to pest attacks and superior fire resistance. As awareness grows about these benefits, more people will choose this material over the traditional construction materials in current use.

A barrier that has kept hempcrete in the realm of niche construction materials has been its relatively high cost. However, as the price of lumber inches upward, a point will be reached when parity is attained with regard to the cost of these two materials. At that point, the use of hempcrete is likely to explode as cost will no longer be a barrier.

Considering the fact that hemp grows rather fast, it isn’t hard to imagine that as its use as a construction material becomes widespread, economies of scale will kick in, and the material may become a material of choice in years to come.

As the uptake of hemp in the construction sector grows, cannabis industry actors such as Grapefruit USA Inc. (OTCQB: GPFT) could see another revenue stream open up from the fibrous residue after CBD and other cannabinoids have been extracted from hemp dry matter.

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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