Exactus Joins with Panacea Life Sciences to Create Premier CBD Wellness Platform
Leslie Buttorff, Founding father of Panacea, To Lead Mixed Firms as Chief Govt Officer
DELRAY BEACH, FL / ACCESSWIRE / July 1, 2021 / Exactus, Inc. (OTCQB:EXDI) (the “Firm”) a number one provider of hemp-derived components (CBD/CBG), in the present day introduced the acquisition of Panacea Life Sciences, Inc. Panacea, which was based by Leslie Buttorff, in 2017 as a woman-owned enterprise, which attracted $20 million in preliminary investments which have been adopted up with a $14 million in funding from 22nd Century Group, Inc. (XXII) throughout 2019, a number one plant biotechnology firm targeted on expertise to lower nicotine in tobacco crops additionally makes use of its experience for genetic engineering of hemp and hashish crops to change cannabinoid ranges utilized in manufacturing CBD, CBG and CBN. twenty second Century exchanged its Panacea most popular inventory for a 11.6% stake in Exactus. Exactus Govt Chairman and media government Larry Wert, may also stay on the Exactus board of administrators and resigned as Govt Chairman.
Panacea Life Sciences is a pacesetter in manufacturing of authorized, hint THC, hemp-derived cannabinoid merchandise for customers and pets that operates a 51,000 sq. foot cGMP licensed facility in Golden, Colorado and PANA Botanical Farms in western Colorado, full with absolutely built-in extraction, manufacturing, testing and success. Panacea produces comfortable gels, gummies, tinctures, sublingual tablets, cosmetics and different topicals for buy on-line (www.panacealife.com) and in shops in addition to in good kiosk merchandising machines being rolled out nationally. By way of 2021 Exactus produced and bought hemp and hemp-based merchandise from its 200-acre farms in Cave Junction, Oregon properly often called a number one area for the manufacturing of hemp. Panacea additionally based the Cannabinoid Analysis Heart at Colorado State College and helps medical research designed to judge the consequences of cannabinoids in human well being and wellness.”
Our give attention to high quality and traceability are the hallmarks of Panacea’s seed to sale technique. From our state-of-the artwork CO2 extraction, chromatography gear and product manufacturing strains, we will produce as a lot product as we have to meet our gross sales objectives for the foreseeable future.
Leslie Buttorff, founding father of Panacea
We first entered the CBD enviornment with a world-class SAP-based ERP system developed for the Hashish business by Quintel Administration which tracks the complete chain of custody for each product, in addition to gives all again workplace and manufacturing planning capabilities.
“We consider this units us aside from the vast majority of hemp farms and CBD corporations” added Ms. Buttorff who can be President and Chief Govt of the SAP administration consulting agency she based. “Seeing the utter chaos that permeates the rising hashish and hemp business, correct supply-chain accounting and reporting is essential to our success. In contrast to different corporations, we got down to set the business normal for compliance and reporting, which has been rewarded with our profitable partnership and funding in joint expertise with twenty second Century.”
“Because the starting of 2021, we’ve got targeted on restructuring and correctly positioning the corporate to execute a strategic acquisition. We’re thrilled to have met Leslie Buttorff and the Panacea staff as they’ve developed an actual gem of a CBD firm.” stated Larry Wert, Govt Chairman of Exactus. “All through this course of, we’ve got evaluated many corporations, and Panacea has confirmed to be superior in all points. We’re happy to offer our loyal shareholders this chance to proceed within the CBD enviornment. I’d additionally wish to thank Exactus’ founder and investor Harvey Kesner and Andrew Johnson, who offered invaluable perception and assist all through our troublesome transition yr and in reference to the Panacea transaction.” In reference to the closing, Mr. Johnson resigned as an officer of Exactus, however will proceed on with Panacea to help with investor relationships.
About Panacea Life Sciences, Inc. Panacea Life Sciences is a woman-owned and woman-led firm, devoted to creating and producing the highest-quality, most medically related, authorized, hemp-derived cannabinoid merchandise for customers and pets. Starting at PANA Natural Botanicals situated at Needle Rock and all through its 51,000 sq. foot, state-of-the-art, cGMP, extraction, manufacturing, testing and success heart situated in Golden, Colorado, Panacea operates in each phase of the CBD product worth chain. From cultivation to completed items, the Firm ensures its merchandise with stringent testing protocols employed at each stage of the availability chain. Panacea gives the purest pure treatments inside product strains for each side of life: PANA Well being™, PANA Magnificence®, PANA Sport™, PANA Pet®, PANA Pure® and PANA Life™.
Underneath the phrases of the Settlement the Firm issued 1,000,000 shares of Collection C Convertible Most popular Inventory, 1,000 shares of Collection C-1 Convertible Most popular Inventory and 1,000 shares of Collection D Convertible Most popular Inventory and 473,639,756 shares of Frequent Inventory in alternate for one-hundred (100%) % of the shares of capital inventory of Panacea. Following the closing the identify of the Firm shall be modified to Panacea Life Sciences Holdings, Inc. The Firm has additionally approved a 1:28 reverse inventory break up which is pending regulatory approval.
Paradox Capital Companions, LLC, Ft. Lauderdale, Florida, served as advisor for the transaction.
To study extra about Panacea and its merchandise or our land-to-brand practices, please go to https://panacealife.com.
To study extra about Exactus, Inc., go to the web site at www.exactushemp.com.
About Exactus Inc. (OTCQB:EXDI) is a number one producer and provider of hemp-derived components and feminized hemp genetics. Exactus is dedicated to making a constructive impression on society and the setting selling sustainable agricultural practices. Exactus makes a speciality of hemp-derived components (CBD/CBG/CBC/CBN) and feminized seeds that meet the very best requirements of high quality and traceability. By way of analysis and growth, the Firm continues to remain forward of market developments and laws. Exactus is on the forefront of product growth for the beverage, meals, pets, cosmetics, wellness, and pharmaceutical industries.
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