GPFT - Grapefruit provides further update on Diagnostic Lab acquisition

2023-03-10 08:17:15 ET

• Grapefruit ( OTCPK:GPFT ) updates its recent announcement regarding the proposed acquisition of Diagnostic Lab, as well as the proposed recapitalization of the Co.
• The Co. announced it was “finalizing its due diligence on DLC and is in the final stages of negotiating the terms of its anticipated financing and structuring the transaction documents, all of which it expects to complete in the next several weeks.”
• The Co. further reported on Nov. 21, 2022, that “due to current general market and economic conditions, the anticipated transaction and financing process is active and continuing with all terms and conditions of financing and structure expected within the next 30 days.”
• Today, the Company updates its guidance and states that the anticipated transaction and financing are continuing.
• "Grapefruit is laying the groundwork to implement the Company’s long-term strategic plans to acquire several retail stores in the Eastern part of the United States as the next event in the Company’s evolution to a wellness-driven, medical science-based, canna-focused biotech company.” said Bradley J. Yourist, Grapefruit’s CEO and co-founder.

For further details see: