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CannabisNewsBreaks – Grapefruit USA Inc. (GPFT) Provides Clarification of Execs Sale of Stock

Grapefruit USA (OTCQB: GPFT), a premiere California-based cannabis and hemp company, has released a clarifying statement regarding the sale of stock conducted recently by company executives. According to the announcement, GPFT executives do not take a salary, instead being compensated with GPFT common stock. The company noted that its leaders preferred equity compensation, voting to receive their compensation that way several years ago because it represents the “ultimate incentive to ensure that their interests are fully aligned with the interests of company shareholders — the success of Grapefruit.” In addition, opting for this form of compensation is management strategy that preserves company cash flow, ensuring that it is invested in projects that grow the company. The company noted that all stock is sold following SEC regulations and are executed by experienced professional stock with GPFT executives having no control over the details of the stock transactions. All sales are executed by experienced professional stock traders who have been instructed to execute trades in a manner which will minimize price volatility. Such 10b5 sales plans are commonly used by corporate executives to sell publicly traded common stock.

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 About Grapefruit USA Inc.

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, California. To find out more about the company, please visit https://GrapefruitBlvd.com.

About CannabisNewsWire

CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

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