Grapefruit Boulevard Investments (OTCQB: IGNG), a Los Angeles based cannabis company which has been licensed by the state of California to both manufacture and distribute cannabis products in California since January 2018, today announced its August 22, 2019, entry into a formal Memorandum of Understanding (“MOU”) with a privately held manufacturer of a novel patented and trademarked delivery system (the “patchless patch”). The delivery system is comprised of highly engineered microscopic particles that topically deliver a therapeutic payload to the user over an extended period of time. According to the update, the MOU is binding on both parties, and both have agreed to negotiate expeditiously into a more formal license agreement. “The Patchless Patch is the future of THC, and Grapefruit will be the first to deliver it to legal Cannabis product users,” Grapefruit CEO Bradley J. Yourist said in the news release. “We see it as a breakthrough and will do everything within our abilities to bring this novel cannabis delivery system to market expeditiously. Our Company’s mission has always been how to best enhance our customers’ health and wellness by leveraging novel, effective technologies and this unique cannabinoid delivery system will advance that mission. Grapefruit delivers yet another achievement on its inexorable advancement to legal cannabis and CBD industry leadership.”
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Grapefruit is a wholly-owned subsidiary of Imaging3, Inc. Grapefruit’s corporate headquarters is located in Westwood, Los Angeles, California. Grapefruit holds California permits and licenses to both manufacture and distribute cannabis products. Grapefruit’s cannabis and CBD oil extraction laboratory and distribution facilities are located in the industry–recognized Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in Desert Hot Springs, located on the extension of North Canyon Rd., approximately 10 miles north of downtown Palm Springs. Grapefruit obtained its California cannabis licenses in January of 2018 and commenced distribution of cannabis products thereafter. Grapefruit’s vision is to become a seed to sale, fully vertically integrated ethical and compliant cannabis and CBD product Company. For more information, visit the company’s website at www.GrapefruitBlvd.com.
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