DELRAY BEACH, Fla., Feb. 04, 2020 (GLOBE NEWSWIRE) -- Exactus, Inc. (EXDI) (the “Company”), a hemp farmer and manufacturer of hemp-derived phytocannabinoid products, today announced that it has entered into a supply and distribution agreement with Hemptown USA.
The supply and distribution agreement enables Exactus, Inc. the ability to purchase and sell Hemptown’s CBG and CBD raw materials, including top flower, biomass and extracts (crude, isolates, distillates, and water soluble).
Emiliano Aloi, President and CEO of Exactus, states, “Through the strong relationship with Hemptown it is no coincidence that we would eventually be working together. The industry is at a point where collaborations with the right partners can determine who will be positioned for long-term success. They have built a truly impressive supply chain and we can see a lot of synergies with our growing sales and marketing team. We are confident that this agreement will benefit both of our shareholders as well as our industry as a whole, and we hope for this to be the first step towards working closer to each other in the future.”
Michael Townsend, President & Co-Founder of Hemptown, said, “It is a pleasure teaming up with Exactus as their sales and marketing team will provide Hemptown a distribution channel with existing relationships we can leverage to generate revenue coming off of the largest CBG harvest in the nation.”
To learn more about Exactus, Inc., visit the website at www.exactushemp.com.
About Exactus, Inc.
Exactus Inc. is dedicated to introducing hemp-derived phytocannabinoid products that meet the highest standards of quality and traceability into mainstream consumer markets. The Company has made investments in farming and has over 200 acres of CBD-rich hemp in Southwest Oregon. The Company is introducing a range of consumer brands, such as Green Goddess Extracts™, Levor Collectiontm, Phenologietm, Paradise CBDtm and Exactustm.
Hemp is a federally legal type of cannabis plant containing less than 0.3% THC (tetrahydrocannabinol), which is the psychoactive component of the cannabis plant. After over 40 years of prohibition, the Agricultural Improvement Act of 2018, known as the 2018 Farm Bill, legalized hemp at the federal level. Hemp production will be regulated by the United States Department of Agriculture (USDA) and the states. As a result, in 2019 hemp was generally removed from the Controlled Substances Act (CSA) and enforcement by the Drug Enforcement Administration (DEA).
For more information about Exactus: www.exactusinc.com.
About Hemptown USA
Hemptown USA is growing some of the finest high-cannabinoid hemp plants in the world. Hemptown USA is meeting the ever-increasing global demand for cannabinoid products and is anticipating to yield more than 2.5 million pounds of flower and biomass this 2019 harvest season. Expanded farmland spanning three states, together with extraction and processing capabilities, are the foundation for Hemptown USA’s vertically integrated model as the Company pushes into the consumer packaged goods sectors with top-quality branded product lines for the consumer market. Due in large part to the recent acquisition of Kirkman Group, an FDA-licensed and cGMP (Current Good Manufacturing Practice) certified operating nutraceutical business based in Oregon, Hemptown USA is well-positioned to capitalize on a global market expected to exceed $22 billion by 2020. For more information, visit www.hemptownusa.com.
Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under "Risk Factors" in Item 1A of our most recent Form 10-K for the fiscal year ended December 31, 2018 filed with the Securities and Exchange Commission (the "SEC") on March 29, 2019, and in other periodic and current reports we file with the SEC. If any of these risks were to occur, our business, financial condition, or results of operations would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. See "Safe Harbor" below.
Safe Harbor - Forward-Looking Statements
The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," "plans," "expects," "intends," "will," "potential," "hope" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company's periodic and current filings with the SEC, including the factors described in the sections entitled "Risk Factors", copies of which may be obtained from the SEC's website at www.sec.gov. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.
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