San Diego, California–(Newsfile Corp. – February 2, 2023) – Hempacco Co, Inc. (NASDAQ: HPCO) (“Hempacco”) partners with entertainment icon and entrepreneur Calvin Broadus, Jr. p/k/a “Snoop Dogg” to develop a consumer-packaged goods line under the new company HPDG, LLC, furthering Hempacco’s mission of Disrupting Tobacco.

HPCO Snoop Dogg Partnership

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HPDG, LLC, a newly formed California limited liability company, is owned by Hempacco and Snoop Dogg and will develop, manufacture, and market a line of various consumer packaged goods, including smokable hemp products, hemp paper, blunts, vapes, and edibles.

“I’ve been looking for the best team out there to produce hemp products with me, and this team has it all – the science, innovation, and the reach. I am excited to offer my Snoop Dogg products to my fans across the country through this partnership … and this is just the beginning,” said Snoop Dogg.

Hempacco not only supplies and produces rolling papers for some of the largest brands in the world but also has extensive R&D capabilities with its team of chemists and innovative services, including vending machine kiosks. Hempacco operates out of a 50K square foot facility which is NSF, GMP, and FDA-certified (Certified Organic), ensuring the highest standards when it comes to consumer products.

“We are so honored and excited to partner with Snoop Dogg and to bring his vision of cannabis through our new joint venture with hemp products to all fifty states across the United States,” said Sandro Piancone, CEO of Hempacco. “We will bring and use our technology for hemp smokables, hemp paper, and our technology for low odor smell and flavoring of terpenes both on the flower and the filters and work with him to design exciting new products for the marketplace.”

About Hempacco

Hempacco Co., Inc.’s goal is Disrupting Tobacco’s nearly $1 trillion industry with herb and hemp-based alternatives to nicotine cigarettes by manufacturing and marketing herb, spice, and cannabinoid smokables and rolling paper. Hempacco owns The Real Stuff functional hemp cigarette and rolling paper brand.

Hempacco’s operating segments include:

1. Manufacturing of smokables, hemp rolling paper, and cannabinoid sticks
2. Smokable technology development
3. The Real Stuff brand of functional smokables and rolling paper

Learn more at www.hempacco.com.

Order products at www.realstuffsmokables.com.

About Snoop Dogg

An Entertainment Industry Mogul, Snoop Dogg has reigned for nearly three decades as an unparalleled force who has raised the bar as a globally recognized innovator. Snoop Dogg is an American rapper, singer, songwriter, actor, record producer, DJ, media personality, businessman, and Icon. In addition to his extensive work in music, Snoop Dogg is a serial entrepreneur with endeavors in Web 3.0, tech, entertainment, lifestyle, global consumer brands, food/beverage, and cannabis industries.

For investor inquiries, please contact:

Sandro Piancone, CEO
Investor Relations: [email protected]
619-779-0715

Safe Harbor Statement

This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: (i) potential failure to meet projected development and related targets; (ii) changes in applicable laws or regulations that may impact our products and business; (iii) the effect of the COVID-19 pandemic on the Company and its current or intended markets; and (iv) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the “SEC”) by the Company. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/153326

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

FORT LAUDERDALE, Fla. & TORONTO, August 02, 2022–(BUSINESS WIRE)–Flora Growth Corp. (NASDAQ: FLGC) (“Flora” or the “Company”), a leading all-outdoor cultivator, manufacturer and distributor of global cannabis products and brands, announced today a joint venture agreement with Pharma Indigena Misak Manasr Sas (“Manasr”), the largest indigenous tribe in Colombia, on the development of cultivation best practices, manufacturing, export, and marketing of cannabis and cannabis containing products.

Under the agreement, Flora will provide Manasr regulatory advice, technical and business support related to product development and distribution, promotion of products to be marketed under the Flora brand portfolio, and cannabis derivatives when needed to complete product production. Additionally, Manasr will work closely with Flora in developing cannabis pharmaceuticals & products and help advance the approvals and authorizations required for exports of cannabis from Colombia.

“We are honored to be given opportunity to work hand-in-hand with the Misak people,” said Luis Merchan, Flora’s Chairman and CEO. “Through this partnership, we will collaborate with the tribe on the processing and distribution of their Colombian-grown cannabis while offering Manasr a powerful platform for product distribution. In return, Flora will be able to leverage the tribe’s unique regulatory positioning to expedite exports and increase global market penetration of Colombian cannabis goods. We look forward to a long-standing relationship with such a powerful community partner.”

The initial term of the agreement is three (3) years; however, the intention is to create a lasting and mutually beneficial relationship for the foreseeable future.

About Flora Growth Corp.

Flora is building a connected, design-led collective of plant-based wellness and lifestyle brands delivering the most compelling customer experiences in the world, one community at a time. As the operator of one of the most extensive outdoor cannabis cultivation facilities, Flora leverages natural, cost-effective cultivation practices to supply cannabis derivatives to its commercial, house of brands, and life sciences divisions. Visit www.floragrowth.com or follow @floragrowthcorp on social media for more information.

Cautionary Statement Concerning Forward-Looking Statements

This press release contains ‘‘forward-looking statements,’’ as defined by federal securities laws. Forward-looking statements reflect Flora’s current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words “believe,” “expect,” “anticipate,” “will,” “could,” “would,” “should,” “may,” “plan,” “estimate,” “intend,” “predict,” “potential,” “continue,” and the negatives of these words and other similar expressions generally identify forward looking statements. Such forward-looking statements are subject to various risks and uncertainties, including those described under the section entitled “Risk Factors” in Flora’s Annual Report on Form 20-F filed with the SEC on May 9, 2022, as such factors may be updated from time to time in Flora’s periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this release and in Flora’s filings with the SEC. While forward-looking statements reflect Flora’s good faith beliefs, they are not guarantees of future performance. Flora disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes after the date of this press release, except as required by applicable law. You should not place undue reliance on any forward-looking statements, which are based only on information currently available to Flora (or to third parties making the forward-looking statements).

Contacts

Investor Relations:
James Williams
[email protected]

Public Relations:
Cassandra Dowell
+1 (858) 221-8001
[email protected]

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

LOS ANGELES, CA / ACCESSWIRE / April 19, 2022 / Marijuana Company of America, Inc. (OTC PINK:MCOA) (“the Company”), operates, invests, and acquires companies exclusively in the cannabis sector, today announced the financial results for the year ended December 31, 2021, as reported in its annual report on Form 10-K. Here are some of the notable highlights for the FY2021:

• Record revenues for the year end December 31, 2021 were $1,030,249 or an increase of 267.1 percent.
• The Company lowered its operating expenses by 2.2 percent by becoming more efficient and making better cash flow decisions.
• Significant efforts to expand into South America and move key parts of supply chain to Brazil and Uruguay to improve gross margins and overall profitability.
• MCOA paid off most variable priced convertible notes prior to conversion over the last quarter with funds raised from its Form S-1 registration statement.
• The Company successfully negotiated a full settlement of its largest senior convertible note holder at a fixed price, preserving shareholder value and minimizing the impact of the dilutive nature of the notes, resulting in a decrease of the derivative liability from $4,426,057 in 2020 to only $749,756 for the year ended December 31, 2021.
• MCOA has successfully negotiated and completed acquisitions including cDistro, Inc. that resulted in the Company’s market capitalization increasing substantially during the year to enhance shareholder value.
• The Company’s total stockholder equity increased from a negative $5,461,367 deficit for the year ended December 31, 2020 to an actual stockholder’s surplus of $230,889. This is the first time in the Company’s history that it has had a positive equity position and is solvent. The Company is getting close to being a “Penny Stock” exempt company, which requires more than $2M in net assets. It plans on achieving this milestone in Q2 or Q3 this year.
• The Company’s total assets increased by $5,853,405 from $2,106,494 in 2020 to $7,959,899. The Company expects its assets to continue to increase exponentially if the pending acquisition of VBF closes, as well as with the continued increase in positive operating results.

Total revenues for the year end December 31, 2021 and December 31, 2020, were $1,030,249 and $280,653, respectively, an increase of $749,596 or 261%. This increase is attributed to the Company’s hempSMART product lines and new line of businesses including cDistro, Inc., a distributor of hemp and CBD products, and equipment lease rental from new joint venture.

MCOA’s Chief Executive Officer, Jesus Quintero, said, “We are excited to have commenced deployment of our new acquisitions, streamlining of our businesses and expansion into consumer markets domestically as well as internationally. Our Company has begun its new path to historical results and success. The new positive trends also complement the political market as the U.S. Congress drives toward the legalization of Cannabis, and we are proud to be part of this trend.”

Quintero added, “This year we had been active in our acquisitions that fall into a few different cannabis categories. MCOA is currently in the process of finalizing the acquisition of VBF Brands, Inc., pending regulatory approval which we expect to complete in early 2022. The Company continued to pursue deals to build scale in its existing markets while continuing to look at opportunities that continue to grow our national footprint in the U.S. as an MSO, as well as in emerging markets such as Brazil and Uruguay. This is an exciting time to be part of MCOA, as we enter 2022 with a stronger balance sheet to accelerate our operations and continue to build shareholder value.”

For the year ended December 31, 2021 and December 31, 2020, gross profit was $156,878 and $121,349, respectively. This increase was attributed to MCOA’s hempSMART products and the cDistro, Inc. acquisition. Gross margins were 15.2% and 43.2% for the years ended December 31, 2021 and December 31, 2020, respectively. This decline in gross margins is due to cDistro being a distribution company that experiences slim margins as a reseller.

For the year ended December 31, 2021, operating losses were $4,711,133 which is a 2.2. percent decrease from operating losses of $4,854,891 for the year ended 2020. This decrease is attributed to the Company’s ability to manage expenses and accordingly become more operationally efficient.

Net losses for the year ended December 31, 2021 and December 31, 2020 decreased by 28% to $10,191,450 for 2021 as compared to $12,145,382 in 2020. This represents a decrease in net losses of approximately $2M for the year ended December 31, 2021 as compared to December 31, 2022.

MCOA believes the reduced operating losses incurred in 2021, as compared to 2020, reflect the effectiveness of the Company’s management team in 2021. MCOA expects to continue to reduce its losses as it continues to implement its plan for new sales strategies and cost-cutting measures in the near future until profitability is achieved. The Company plans on utilizing more funds from operations to cover its obligations rather than relying on dilutive equity and debt financing going forward.

For further information on Form 10-K, please visit www.sec.gov. Further details regarding the year ended 2021, will soon be made available in the investor relations section of the Company’s website at www.marijuanacompanyofamerica.com.

Forward-Looking Statements

This news release contains “forward-looking statements,” which are not purely historical and may include statements regarding beliefs, plans, expectations, or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs, and results of new business opportunities and words such as “anticipate,” “seek,” “intend,” “believe,” “estimate,” “expect,” “project,” “plan,” or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s” reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations, and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K, our quarterly reports on Form 10-Q, and other periodic reports filed from time to time with the Securities and Exchange Commission.

For more information, please visit www.marijuanacompanyofamerica.com or visit www.sec.gov.

CONTACT:
[email protected]
[email protected]
888-777-4362

SOURCE: Marijuana Company of America Inc.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

West County Brands Launches its Own MYTHC Life Live Rosin Product

VANCOUVER, BC / ACCESSWIRE / March 9, 2022 / FinCanna Capital Corp. (“FinCanna“) (“the Company”)(CSE:CALI)(OTCQB:FNNZF) an investment company focused on the U.S. licensed cannabis industry, is pleased to provide an update on the Joint Venture between FinCanna’s investee company QVI (operating as West County Brands) and Cherry Kola Farms, an award winning producer of premium cannabis products in California.

The Joint Venture includes a 50/50 profit share, which will drive revenue for both companies derived from the sales of Cherry Kola Farms live rosin products and West County Brands live rosin products that will be co-labelled with Cherry Kola Farms.

The initial late-February market introduction of Cherry Kola Farms’ live rosin products was targeted at a core group of dispensaries to allow for direct feedback from customer interactions. Response from dispensary owners, budtenders and consumers was unanimously positive as evidenced by a rapid sellout and re-orders received from each participating retail location. Based on this initial success, market expansion and penetration initiatives are underway with direct sales & marketing support and brand ambassadorship from Petalfast and industry leading distribution services from Calyx Brands, that jointly have connections to 1,100 retail and delivery locations across California. This near-term inaugural market expansion program is focused on 40+ dispensaries in select southern and northern California markets with further market expansion to follow.

Cherry Kola Farms’ premium live rosin products manufactured at West County Brands, are created with only the finest fresh frozen cannabis. Cherry Kola Farms utilizes the highest quality equipment and processes and finest input materials, including its proprietary genetics, Kola Classics and Kola Collab strains, which are bred to create high efficacy concentrates and unique flavor profiles. Cherry Kola Farms is also directing the production of West County Brands, MYTHC Life and GOTHC Life live rosin products ensuring select biomass acquisition and superior production practises.

Additionally, initial market introduction of West County Brands own MYTHC Life live rosin products is being launched in conjunction with Cherry Kola Farms market expansion program with Calyx Brands and Petalfast. MYTHC Life’s live rosin products are co-labelled with Cherry Kola Farms, bringing instant brand credibility with dispensary owners, budtenders and consumers. This is especially advantageous for MYTHC Life as it leverages its connection to Cherry Kola Farms premium priced products, and MYTHC Life is disruptively priced at approximately 50% discount to current market prices establishing a unique and compelling position in the market.

Annie Holman, Co-Founder and CEO of QVI said, “It has been wonderfully busy at West County Brands as we drive live rosin production with the great Cherry Kola Farms team for their amazing premium products and the initial production run of our disruptively priced MYTHC Life live rosin. I’m also excited to be working directly with Calyx Brands and Petalfast, the best distribution and sales & marketing team one-two punch in the state. We’ve been getting amazing feedback on our products and brand direction, and I can’t wait to follow up with additional products under the MYTHC Life brand to be followed by product introductions of our GOTHC Life and Huckleberry brands. Stay tuned.”

Andriyko Herchak, CEO of FinCanna Capital said, “We’re very pleased with our exciting Joint Venture relationship with Cherry Kola Farms and our live rosin products. These are highly regarded by the market for their incredible and authentic flavours, derived from our JV partner’s proprietary genetic strains and their manufacturing expertise in delivering the best possible products on the market today. We’re very encouraged by early positive consumer response as we continue to rollout to dispensaries across the state. We expect the Cherry Kola Farms JV to be an important source of revenue and cashflow starting in the near term and growing substantially month to month as we fully penetrate the market. Additionally, we’re very excited to disrupt the massive California market with our half-priced MYTHC Life live rosin products.”

To review FinCanna Capital’s recent investor presentation click here.

The legal U.S. cannabis market is expected to reach more than US$41 billion in annual sales by 2025 with California, the single largest market in North America, representing an estimated 20% market share or US$8.2 billion and edibles comprising over $900m of the overall California Market (New Frontier Data)

About FinCanna Capital Corp.

FinCanna is an investment company that provides growth capital to rapidly emerging private companies operating in the licensed U.S cannabis industry. FinCanna is focused on delivering high impact returns to its shareholders by way of a strategically diversified investment portfolio.

For additional information visit www.fincannacapital.com and FinCanna’s profile at www.sedar.com

About QVI

QVI, which stands for Quality, Value and Integrity, is located in Sonoma County, California. Their purpose-built facility previously known as The Galley and now West County Brands is differentiated from other manufactures by its proven automated capabilities to produce virtually all high-value cannabis products at large volumes under one roof. The facility is built to FDA and CDPH standards and is focused on high demand areas of production; Edibles, Topicals, Tinctures, Chocolates, Hard Candies, Gummies, Beverages, Vapes, Pre-Rolls and Flower Packaging.

QVI’s immediate goal is to become the premier manufacturer in California, the largest single market in North America and, upon success, to license products nationally and globally.

FinCanna Capital Corp.
Andriyko Herchak, CEO & Director
[email protected]
1.833.346.2266

Forward-Looking Information

Information set forth in this news release contains forward-looking statements or forward-looking information (collectively, “forward-looking statements”) under applicable securities laws. Forward-looking statements herein include,, without limitation, statements about anticipated benefits of the joint venture agreement with Cherry Kola Farms (CKF); the launch (and timing thereof), implementation and anticipated benefits of the new “manufacturer to retail” revenue model and strategy, including anticipated superior margins, better pricing and implied profitability; the $2 million in private placement financing; and future plans and strategies of the Company. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks that the joint venture with CKF and the new “manufacturer to retail” model and strategy may not result in the anticipated benefits to the Company, or at all; the Company may not be able to raise $2 million in private placement financing, or any funds at all; the Company may not receive approval for the $2 million financing; and the risks identified in the CSE listing statement available at www.SEDAR.com and other reports and filings with the applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made, and the respective companies undertake no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

SOURCE: FinCanna Capital Corp.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

CALGARY, AB, Dec. 2, 2021 /CNW/ – Sunstream IVXX Investment Corp. (“Sunstream IVXX”), an affiliate of SunStream Bancorp Inc., a joint venture sponsored by Sundial Growers Inc. (NASDAQ: SNDL), today announced that it has submitted a draft registration statement on a confidential basis to the U.S. Securities and Exchange Commission (the “SEC”) for a proposed initial public offering of its common stock. Sunstream IVXX will be a specialty finance company that operates as a closed-end, non-diversified management investment company that anticipates electing to be regulated as a business development company under the Investment Company Act of 1940. The number of shares of common stock to be sold and the price range for the proposed offering have not yet been determined. The purpose of the offering is to use the net proceeds therefrom to invest primarily in the debt of U.S. cannabis companies across the cannabis industry. Sunstream IVXX intends to commence the public offering following completion of the SEC review process, subject to market and other conditions, in the first quarter of 2022.

This announcement is being made pursuant to and in accordance with Rule 135 under the Securities Act of 1933, as amended (the “Securities Act”). As required by Rule 135, this press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act.

ABOUT SUNDIAL GROWERS INC.

Sundial is a public company with Common Shares traded on Nasdaq under the symbol “SNDL”. Our business is reported and analyzed under three operating segments: Cannabis Operations, Cannabis Retail and Investments.

As a licensed producer that crafts small-batch cannabis using state-of-the-art indoor facilities, our ‘craft-at-scale’ modular growing approach, award-winning genetics and experienced growers set us apart. Sundial’s brand portfolio includes Top Leaf, Sundial Cannabis, Palmetto and Grasslands. Sundial also operates the Spiritleaf retail banner. Spiritleaf aims to be the most knowledgeable and trusted source of recreational cannabis by offering a premium consumer experience and quality curated cannabis products.

Our investment operations seek to deploy strategic capital through direct and indirect investments and partnerships throughout the global cannabis industry.

We are proudly Albertan, headquartered in Calgary, AB, with operations in Olds and Rocky View County, Alberta, Canada. For more information on Sundial, please go to www.sndlgroup.com.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

LOS ANGELES and DESERT HOT SPRINGS, Calif., Sept. 07, 2021 (GLOBE NEWSWIRE) — via InvestorWire — Grapefruit USA, Inc. (OTCQB: GPFT) (“Grapefruit” or the “Company”), a premiere, fully licensed California-based cannabis company, today provides further updates to its March and May 2021 announcements concerning its discussions with a Canadian cannabis company regarding development of a memorandum of understanding (“MOU”) setting forth terms under which the parties could enter into a joint venture to jointly manufacture, distribute and market Grapefruit’s products, including, but not limited to, Grapefruit’s patented disruptive Hourglass THC/cannabinoid time-release delivery cream throughout Canada.

In February, the Company signed a memorandum of understanding (the “MOU”) with the Canadian partner setting forth the general terms of their agreement to form a new joint venture corporation to manufacture and distribute Grapefruit’s patented, disruptive Hourglass THC/cannabinoid products throughout the Commonwealth of Canada, including on Indian reservations and Canadian First Nation lands. The Company’s March 8, 2021, announcement further noted that the Canadian partner duly noticed and set a special shareholder’s meeting to consider the proposed joint venture and other corporate matters.

Subsequent to March 8, 2021, the Canadian partner’s shareholder’s meeting was delayed and ended up being held on April 29, 2021. At that meeting, the Canadian partner’s shareholders elected five directors and approved appointment of a new CEO and CFO. The Canadian partner’s shareholders also approved the acquisition of a Canadian-based hemp cultivator. Since the aforementioned corporate actions (the “Corporate Actions”) triggered a change in control of the Canadian partner, the Corporate Actions require acceptance for filing by the Canadian Stock Exchange (the “CSE”), which has been pending since April. Discussions between the Company and the Canadian partner have continued during the course of these activities; however, execution of a formal joint venture agreement and further acquisition discussions were postponed pending acceptance of the filing and approval of the Corporate Actions by the CSE. The Canadian partner received conditional approval of the Corporate Actions on Aug. 27, 2021. The Canadian partner has informed the Company that it expects the Corporate Actions to be finalized on or before Oct. 1, 2021, at which point the Canadian partner’s shares will resume trading. At such point, the Company expects to resume negotiations with the Canadian partner concerning the proposed joint venture. There can be no assurances that this timetable will be met.

Bradley J. Yourist, Grapefruit CEO, commented, “While Grapefruit is, of course, frustrated by the delays occasioned by our counterpart’s Corporate Actions (which were in progress before our discussions commenced), we believe it was in the best long-term interests of Grapefruit and its shareholders to accept a pause while the Canadian partner concluded its Corporate Actions. Now, we expect to move forward in October. As we have stated before, a joint venture may precede without precluding an acquisition. Execution of the MOU moved the entire process forward, as we now more clearly understand each other’s overall goals and priorities as well as the capital requirements and legal, regulatory and logistical challenges of finalizing a joint venture and/or an acquisition. We now expect to bring the process forward to the point of making a decision in the next 30-60 days. Once again, that being said, we wish to emphasize that the discussions reported here, although substantive and largely positive, remain in the MOU and pre-definitive agreement stage as a result of the delay from April 2021 to the present and may be subject to termination at any time. Grapefruit will continue to update the public as necessary on any material joint venture or acquisition developments as events proceed.”

To learn more about Grapefruit’s new sustained-release Hourglass THC + Cannabinoid Topical Delivery Cream, please watch this promotional video, https://www.youtube.com/watch?v=6cU9MJMgH1w&feature=youtu.be, and visit our website at:
https://grapefruitblvd.com/hourglass/

For investor information, please visit our website at:
https://grapefruitblvd.com/investor-relations/

About Grapefruit

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. To obtain further information on Grapefruit and its operations, please visit the Company’s website at https://grapefruitblvd.com/.

Safe Harbor Statement

Grapefruit cautions that any statement included in this press release that is not a description of historical facts is a forward-looking statement. Many of these forward-looking statements contain the words “anticipate,” “believe,” “estimate,” “may” “intend,” “expect” and similar expressions. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties inherent in Grapefruit’s business, including, without limitation: the Company may not ever obtain additional funds necessary to support its business development and growth plans; and the Company may not ever achieve the market success to reach or sustain a profitable business. In addition, there are risks and uncertainties related to economic recession or terrorist actions, competition from much larger cannabis companies, unexpected costs and delays, potential product liability claims and many other factors. More detailed information about Grapefruit and the risk factors that may affect the realization of forward-looking statements is set forth in the Company’s filings with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the year ended Dec. 31, 2021, its Quarterly Report on Form 10-Q for the period ended June 30, 2021, and its Registration Statement on Form S-1 filed on Aug. 23, 2021. Such documents may be read free of charge on the SEC’s website at www.sec.gov. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Grapefruit undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.

Investor Relations Contact:
Bradley Yourist
[email protected]
18776 Blue Dream Crossing, Unit LL1 53-07
Desert Hot Springs, California 92240
(760) 205-1382
https://grapefruitblvd.com/

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Grapefruit USA:
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Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
[email protected]

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

VANCOUVER, British Columbia, April 28, 2021 (GLOBE NEWSWIRE) — Core One Labs Inc. (CSE: COOL), (OTC: CLABF), (Frankfurt: LD62, WKN: A2P8K3) (“Core One”) is pleased to announce it has entered into a letter of intent, dated April 27, 2021, with Lobe Sciences Ltd. (“Lobe”) pursuant to which the Company will explore the formation of a joint venture (the “Joint Venture”) with Lobe involving the sale and distribution of biosynthetic psilocybin. The structure of the Joint Venture remains subject to negotiations as well as, legal and regulatory due diligence between Core One and Lobe, and may be altered for corporate, tax or securities reasons.

It is contemplated that Core One and Lobe will cooperate in the formation of the Joint Venture for the development, regulatory approval and marketing of biosynthetic psilocybin and other psychedelic compounds to be produced by Vocan Biotechnologies Inc., a wholly owned subsidiary of Core One. Core One will develop and manage the cGMP production and delivery of biosynthetic psilocybin, with Lobe being responsible for the clinical development, and commercialization of the product(s).

Lobe as developed a patent pending Nasal Mist Transducer Device (the “Nasal Mist Device”) for administration of pharmaceutical agents such as a psilocybin-derived agent and/or N-acetylcysteine (NAC) at preselected dosages and times directly to the olfactory bulb. The Nasal Mist Device will be utilized in the treatment of traumatic brain injuries and post-traumatic stress disorder. The device design allows for the precise control and delivery of medicines through the nasal cavity for faster and more efficient uptake of psychedelics and other medicines that target the brain.

Core One Labs’ business plan involves partnering with companies in the psychedelics space to provide them with our substantially lower cost and steriochemically sound API grade biosynthesized psilocybin for use in the commercialization of their products, clinical trials and research purposes, as well as approved mental health and addictions treatments.

With Core One’s projected production costs for biosynthesized psilocybin ranging between 10’s and 100’s of dollars a gram, compared to the average costs of other synthetic producers and extractors ranging from $7,000 to $10,000 a gram, there is significant opportunity for the Company to be the preferred supplier throughout the full spectrum of the psychedelics industry. Core One views this as a significant value driver for the Company, as well as for its shareholders and all stakeholders, alike.

“Partnering with Lobe would be an exciting development for the Company as it marks another step towards becoming a viable industry-provider of API grade psilocybin. Additionally, Lobe’s Nasal Mist Device intellectual property would provide the Company access to new patent pending delivery methods and future revenue streams for our biosynthesized psilocybin upon completion of product development and testing stages,” stated Joel Shacker, CEO of the Company.

About Core One Labs Inc.
Core One is a biotechnology research and technology life sciences enterprise focused on bringing psychedelic medicines to market through novel delivery systems and psychedelic assisted psychotherapy. Core One has developed a patent pending thin film oral strip (the “technology”) which dissolves instantly when placed in the mouth and delivers organic molecules in precise quantities to the bloodstream, maintaining excellent bioavailability. The Company intends to further develop and apply the technology to psychedelic compounds, such as psilocybin. Core One also holds an interest in medical clinics which maintain a combined database of over 275,000 patients. Through these clinics, the integration of its intellectual property, R&D related to psychedelic treatments and novel drug therapies, the Company intends to obtain regulatory research approval for the advancement of psychedelic-derived treatments for mental health disorders.

Core One Labs Inc.
Joel Shacker
Chief Executive Officer

FOR MORE INFORMATION, PLEASE CONTACT:
[email protected]
1-866-347-5058

Cautionary Disclaimer Statement:

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions, and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Such factors include, among other things: risks and uncertainties relating to the Company’s limited operating history and the need to comply with strict regulatory regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

In addition, psilocybin is currently a Schedule III drug under the Controlled Drugs and Substances Act (Canada) and it is a criminal offence to possess substances under the Controlled Drugs and Substances Act (Canada) without a prescription or authorization. Health Canada has not approved psilocybin as a drug for any indication. Core One does not have any direct or indirect involvement with illegal selling, production, or distribution of psychedelic substances in jurisdictions in which it operates. While Core One believes psychedelic substances can be used to treat certain medical conditions, it does not advocate for the legalization of psychedelics substances for recreational use. Core One does not deal with psychedelic substances, except within laboratory and clinical trial settings conducted within approved regulatory frameworks.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.