Attached files
file | filename |
---|---|
8-K - CURRENT REPORT - Exactus, Inc. | exdi8k_jan172019.htm |
Exhibit 99.1
Exactus Inc. Announces Entry
into Hemp CBD Market
Enters into Supply and Development Agreement with Ceed2Med,
LLC
Exactus Inc. (OTCQB: EXDI) is pleased to announce its
entrance into the CBD market in conjunction with Ceed2Med,
LLC’s (“C2M”) acquisition of a controlling
ownership interest in Exactus, Inc. and a Master Product
Development and Supply Agreement with Ceed2Med, LLC for hemp-based
Cannabidiol (“CBD”) products with full genetic
traceability. C2M operates and manufactures at cGMP facilities and
processes raw material through a number of facilities in order to
produce phyto-cannabinoid rich ingredients, including isolates,
distillates, water soluble, and proprietary formulations. Exactus
has a number of hemp-based CBD products in the pipeline and expects
to offer tinctures, edibles, capsules, topical solutions and animal
health products manufactured by C2M commencing the first quarter of
2019. C2M has committed 2,500 kilograms annually to Exactus. The
founders of C2M established their first CBD business in 2014 and
are leaders in CBD innovation.
In December
2018, President Trump signed the $867 billion Farm Bill
which recharacterized hemp to the lowest-level listed drug
(schedule 5). This clarified that mass hemp production in the
United States is federally lawful, as is its transportation
across state lines. Hemp is defined in the United
States as cannabis with less than 0.3% Tetrahydrocannabinol
(“THC”). CBD, a non-psychoactive cannabinoid found in
cannabis, has had a surge in popularity over the past several years
based on a wide range of potential health benefits and
uses.
Philip
Young, CEO of Exactus said “We are thrilled to have such a
highly respected partner as we create a new business model in the
hemp marketplace. By applying the highest standards, from the
initial seed selection all the way through the production and
distribution of the commercial product, we plan to be a leader in
quality, innovation and commercialization.” Young further
commented, “This quality will be evident and part of every
product line we produce, whether it is for our proprietary product
line or for other commercial partners who want to access our
product development pathway.”
Emiliano
Ailo, Co-Founder of Ceed2Med added, “Partnering with Exactus
is an exciting opportunity for our company. It is an honor to work
with a company that has the same commitment to quality and a desire
to lead the hemp marketplace with the highest standards. We believe
our scientific commitment from seed selection, through cultivation,
harvesting and manufacturing, combined with our innovative
seed-to-sale traceability is setting the standard in the hemp
market and ensures premium
pricing and higher product safety over
others”
For information about our products and availability please call
804-205-5036 or email,
cbd@exactusinc.com.
About Exactus:
Exactus,
Inc.is a healthcare company pursuing opportunities in two distinct
business segments, Hemp derived, THC free CBD and point of care
diagnostics.
Forward Looking Statements:
This
press release includes forward-looking statements. Such
forward-looking statements include those that express plans,
anticipation, intent, contingency, goals, targets or future
development and/or otherwise are not statements of historical fact.
These forward-looking statements are based on our current
expectations and projections about future events and they are
subject to risks and uncertainties known and unknown that could
cause actual results and developments to differ materially from
those expressed or implied in such statements. Such risks and
uncertainties include, but are not limited to, the impact of
competitive firms, the ability to meet regulatory requirements, the
ability to manage growth, the ability to acquire and retain
clientele, acquisitions of technology, equipment, or human
resources, the ability to access new capital, the effect of
economic business conditions, and the ability to attract and retain
skilled personnel. We are not obligated to revise or update any
forward-looking statements in order to reflect events or
circumstances that may arise after the date of this press
release.
For more information:
Company
Contacts:
Corporate
Communications Contact:
Tim
Ryan, EVP, Director
tryan@exactusinc.com
646.342.6199
Philip
J. Young, Chairman and CEO
pyoung@exactusinc.com