NetworkNewsBreaks – Grapefruit USA Inc. (GPFT) A
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Posted On: 02/12/2021 3:51:11 PM
NetworkNewsBreaks – Grapefruit USA Inc. (GPFT) Approached about Potential Acquisition Transaction
Grapefruit USA (OTCQB: GPFT), a premiere fully licensed California-based cannabis company, has received an initial informal acquisition inquiry. The company announced that it had been approached by a Canadian cannabis company about entering into discussions concerning the possibility of an acquisition transaction. “Grapefruit is not surprised to be approached concerning a potential acquisition, in light of the company’s recent disclosure concerning its 714% year-over-year revenue increase; the public reaction to the company’s patented, disruptive Hourglass(TM) THC/cannabinoid delivery cream; and recent announcements by U.S. Senate Majority Leader Chuck Schumer concerning prioritization of the federal legalization of cannabis by de-scheduling THC,” said Grapefruit CEO Bradley J. Yourist in the press release. “Grapefruit has always been fundamentally driven by compliance, so management decided it was incumbent upon the company to make this announcement to prevent possible selective leaks of this material and heretofore nonpublic information and/or to prevent insider trading. That being said, we wish to emphasize that the discussions reported here are preliminary in nature and may be terminated at any time. Grapefruit will update the public as necessary on these discussions as events proceed.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Grapefruit USA (OTCQB: GPFT), a premiere fully licensed California-based cannabis company, has received an initial informal acquisition inquiry. The company announced that it had been approached by a Canadian cannabis company about entering into discussions concerning the possibility of an acquisition transaction. “Grapefruit is not surprised to be approached concerning a potential acquisition, in light of the company’s recent disclosure concerning its 714% year-over-year revenue increase; the public reaction to the company’s patented, disruptive Hourglass(TM) THC/cannabinoid delivery cream; and recent announcements by U.S. Senate Majority Leader Chuck Schumer concerning prioritization of the federal legalization of cannabis by de-scheduling THC,” said Grapefruit CEO Bradley J. Yourist in the press release. “Grapefruit has always been fundamentally driven by compliance, so management decided it was incumbent upon the company to make this announcement to prevent possible selective leaks of this material and heretofore nonpublic information and/or to prevent insider trading. That being said, we wish to emphasize that the discussions reported here are preliminary in nature and may be terminated at any time. Grapefruit will update the public as necessary on these discussions as events proceed.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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