Grapefruit USA, Inc. (OTCPINK “GPFT”) Comments on the Significance of LVCA/BudTrader Acquisition; Grapefruit Near Term Plans

Los Angeles/Desert Hot Springs, CA, May 04, 2020 (GLOBE NEWSWIRE) -- Grapefruit USA, Inc., (“GPFT”, “Grapefruit” or the “Company”) (OTCPink: GPFT) a California based cannabis company, last week announced in tandem with its social media licensor, BudTrader.com that Grapefruit’s control affiliate, Lake Victoria Mining Company, Inc. (OTCPINK:LVCA) (“LVCA”) had agreed to be acquired by BudTrader in a reverse acquisition. (see, www.grapefruitblvd.com www.budtrader.com )

Expanding on the significance of the proposed LVCA/BudTrader acquisition (the “Acquisition”), Bradley J. Yourist, Grapefruit CEO, stated, “The significance of the Budtrader / LVCA Acquisition, which provides us with a Budtrader board seat and the Budtrader CFO position cannot be over emphasized. After the closing of the LVCA / Budtrader.com acquisition, Grapefruit will continue to operate our wholesale cannabis distribution business, and our permitted cannabis extraction lab, enjoying growing revenues from these and other streams. We are also finalizing arrangements for the market release of our potentially disruptive, patented time-release “patchless patch” topical cream to the legal cannabis market.

“We work on a daily basis, on a very granular level with BudTrader, the world’s largest cannabis centric social media site, to increase worldwide awareness of our company and its products and services as well as the value proposition we feel is offered by both GPFT and LVCA shares.

We are confident that this unique combination of characteristics will power our goal of becoming one of the world’s leading legal cannabis companies.

We expect to publish our first quarter results the week of May 11, 2020.”

To learn more about Grapefruit, please visit our website at:

https://grapefruitblvd.com

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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. Grapefruit’s 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 14 miles north of downtown Palm Springs. Grapefruit obtained its California cannabis licenses in January 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 product Company. To obtain further information on Grapefruit and its operations, please visit its website at https://grapefruitblvd.com/. To learn more about Grapefruit’s Sugar Stoned branded line of infused edibles, please visit us at https://sugarstoned.com/.