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Justin Costello/Advisory Board IGNG/Grapefruit Boulevard Investments

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samsamsamiam   Thursday, 09/12/19 01:51:16 AM
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Justin Costello/Advisory Board IGNG/Grapefruit Boulevard Investments


September 11, 2019 06:00 ET | Source: Imaging3, Inc.

Los Angeles/Desert Hot Springs, CA, Sept. 11, 2019 (GLOBE NEWSWIRE) -- Grapefruit Boulevard Investments, Inc. a Los Angeles based cannabis and CBD company and wholly owned subsidiary of Imaging3, Inc. (OTCQB: IGNG). (collectively “Grapefruit” or the “Company”) which has been licensed by the State of California to both manufacture and distribute cannabis products in California since January 2018 is announcing today that on August 16, 2019 Justin Costello, CEO of GRN Funds in Seattle, WA, accepted appointment as Grapefruit’s initial non-director corporate advisor and the foundation member of its strategic advisory board. Pursuant to the terms of the Corporate Advisory Services Agreement between Grapefruit and Mr. Costello, his initial term will be for one year and shall automatically renew for successive six month periods subject to the mutual agreement of the parties. Mr. Costello has agreed to advise Grapefruit on a broad range of matters, from capital formation to mergers and acquisitions. Mr. Costello, 39, is considered to be one of the pioneers of the legal cannabis and CBD industry in the United States. He is CEO and Chairman of GRN Funds, an investment firm based in Seattle, Washington, which he established 2014. GRN Funds provides secure banking resources to small to medium businesses throughout the country. Mr. Costello is also the Chairman and CEO of Discovery Gold Corp. (OTCPINK: DCGD). In consideration of accepting his appointment, Mr. Costello will be paid a quarterly honorarium and has been issued four million five hundred thousand restricted shares of the Company’s common stock.
Mr. Costello stated, “I am very flattered and pleased that Brad and Dan Yourist, two very experienced attorneys and cannabis law experts have chosen me to be their initial outside corporate advisor and foundation member of Grapefruit’s strategic advisory board. Brad and Dan’s obvious commitment to compliance with all applicable cannabis laws and regulations matches the commitment of the entities I am associated with and provides the foundation for our decision to work together for the benefit of each other’s enterprises and the legal cannabis, CBD and related enterprises in general. I look forward to a long, mutually beneficial and educational relationship.”
Daniel J. Yourist, Grapefruit COO stated, “Grapefruit is a proud and happy client of Justin’s banking platform. He has been instrumental in helping our Company resolve the numerous financial issues associated with operating a successful enterprise within the legal cannabis and CBD world. We look forward to a long and successful relationship with Justin and his Company.”
Bradley J. Yourist, Grapefruit CEO stated, “Dan and I are very grateful to Justin for agreeing to accept our offer and become an official member of the Grapefruit family. We feel his multifaceted legal cannabis, CBD and financing knowledge and experience will be a major asset to our enterprise. We believe Justin’s presence as a foundational senior advisor to Grapefruit will lend significant incremental credibility to Grapefruit which will facilitate and enhance our ability to attract top notch talent, investors and followers. We truly could not be happier about Justin’s involvement. Justin’s appointment represents the achievement of yet another Grapefruit goal on its inexorable march to become a legal cannabis and CBD industry leader.”

Grapefruit also did a reg D filing end of last year. Trying to raise $1mil but showed $330k raised.

And guess what - Grapefruit owns 2 acres in the Coachella Coachchillin"
sounds familiar!


Another virtual cannabis Park in Coachella.

Here is the website for the park. There maybe more than one developer and marketer for the project.

And here is an ad for close to 2 acres on the property for almost $899k
And other parcels being advertised:



Don't miss the you tubes!


how long would it take for this reservoir to evaporate in 125 degree weather?

This project reminds me of that Fyre Music Festival which ended quite badly.

Will it ever be fully built out? Somehow I doubt it.

The other one Costello was involved in with Justin Beck changed hands at some point. and some lawsuits were involved. (see Alan Brochstein articles)


Also worth noting - Grapefruit had at one point considered LVCA as a merger candidate but appeared to abandon it for IGNG for their Cannabis play. Oddly (probably because the IBOX had all the old info in it) a bunch of people jumped in thinking Costello would be part of that one as well.
Whether the Yourist attorney Brothers still own controlling interest I do not know.

This post explains a bit of what happened:

And it is looking like they pump out press releases using paid for news service


IGNG: Will be covered via our InvestorBrandNetwork for Corporate Communications, News Syndication, Press Release Enhancement and Social Media Solutions. The solutions will be provided by the InvestorBrandNetwork. IGNG may also be covered via NETWORKNEWSWIRE (NNW), please read entire Disclaimer for FULL Compensation Disclosures.

If this is a typical press release by the attorney CEO - I wish them all luck!!!


I'm feeling like this is a Catch Me If You Can Game with Costello!!

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