Item 1.01 Entry into Material Definitive Agreements
On October 7, 2021, the Company entered into a Collaboration Agreement with
Canadian companies 6PAK Solutions Inc. and Medz Cannabis, Inc., 6PAK's partner
and license holder, to bring Grapefruit's patented Hourglass™ Time Release
THC+CBD Delivery Topical Relief Cream to market throughout Canada. Under the
agreement, Grapefruit will file its Notice of New Cannabis Product, or "NNCP,"
with Health Canada detailing the Hourglass production process, including
integration of the patented Z-Pod Xerogel Silica Gel technology into the
Hourglass topical delivery cream system. Upon approval of the Hourglass NNCP by
Health Canada, Grapefruit intends to launch multiple products that incorporate
its patented Hourglass™ Time Release THC+CBD Delivery Cream across Canada.
Additionally, Medz Cannabis will act as Grapefruit's licensed Canadian
distributor and will obtain wide distribution and approval of cannabis products
incorporating Grapefruit's Hourglass™ throughout Canada.
Item 9.01 Exhibits
Exhibit 1.01 Collaboration Agreement
104 Cover Page Interactive Data File (embedded within the Inline XBRL
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