Grapefruit USA, Inc. (OTCQB: GPFT) (“Grapefruit” or the “Company”), an innovative California-based cannabiotech company, is providing an update on progress with the Company’s previously announced Notice of New Cannabis Product (“NNCP”) filed with Health Canada for its patented Hourglass™ Time Release THC+CBD infused Topical Delivery Cream. Approval of the NNCP by Health Canada will enable Grapefruit to sell its patented Hourglass™ Time Release THC+CBD infused Topical Delivery Cream to licensed retail outlets throughout Canada.

Health Canada is the department of the federal government of Canada responsible for national health policy. It approves and oversees the production of all cannabis products and is the licensing authority for all companies involved in the cannabis industry. Health Canada requires all cannabis products meet federal regulatory requirements before they can be sold in Canada. Under Canada’s Federal Cannabis Regulatory scheme, Health Canada must be notified of a company’s intent to sell a cannabis product that has not previously been sold in the country. Approval of the NNCP is a mandatory prerequisite to the launch of Grapefruit’s Hourglass technology-based products in Canada. On Feb. 18, 2022, Grapefruit received an inquiry from Health Canada about the composition of specific Hourglass ingredients. Grapefruit’s timely response to the inquiry was promptly accepted by Health Canada.

Grapefruit believes its Hourglass™ THC/CBD delivery cream system is a truly disruptive technology which has fundamentally changed the way humans safely ingest THC, CBD and other cannabinoids to enjoy their unique holistic benefits without the dangers of smoking and/or oral ingestion. A simple application of Grapefruit’s Hourglass™ THC/CBD/cannabinoid cream is all that is needed for Hourglass users to obtain the full-body entourage effects and related benefits of THC, CBD and a wide array of other beneficial cannabinoids.   

Bradley J. Yourist, Grapefruit’s CEO and co-founder, commented, “We are pleased with the significant progress made on our Health Canada Hourglass approval initiative after successfully responding to Health Canada’s first round of requests for additional information. We are on track to obtain approval of our Hourglass NNCP. Grapefruit looks forward to bringing the Hourglass THC+CBD product to Canada.”