leadf
logo-loader
viewExactus, Inc.

Exactus shares lifted as it unveils plans to expand partnership with Hemptown USA

The move represents an important milestone positioning Exactus for rapid growth

Exactus, Inc. -
Exactus will work with Hemptown's ingredient and manufacturing divisions to develop selected units to service the white label market

Exactus Inc (OTCMKTS:EXDI) shares rose Thursday as it unveiled plans to expand its partnership with cannabinoid hemp plant company Hemptown USA, which will include the ramping up of farming and supply chain development.

The move represents an important milestone positioning Exactus for rapid growth through Hemptown, which is a mutually beneficial CBD (cannabidiol) and CBG (cannabigerol) partner, the Florida-based firm said in a statement.

READ: Exactus calls 2019 'transformational' as it looks to 2020 'to be a breakout year'

"While many industries are at a standstill, Exactus continues to move forward in order to keep up with supply and demand," said Bobby Yampolsky, chairman of Exactus.

"We are seeing an increase of interest in CBD and CBG while people look for natural alternatives to manage the many stressful aspects of life surrounding the virus.

"Exactus Inc. Interim CEO, Emiliano Aloi will further develop the production platforms for both companies, working in the fields with Hemptown to provide immeasurable benefits to both companies," he added.

The tie-up includes the firm helping Hemptown’s management in necessary compliance requirements for products, participating in discussions related to 2020 farming, harvesting and processing plans, as well as joint supply scenarios.

Exactus will work with Hemptown's ingredient and manufacturing divisions to develop selected units to service the white label market, the company added.

Hemptown USA announced the acquisition of Kirkman Group in 2019, through which Hemptown has an FDA licensed, cGMP 25,000 square-foot nutraceutical manufacturing facility.

This offers opportunities for Exactus to enter the consumer-packaged goods space, also noted the company.

Exactus shares in New York added 7.3% to stand at US$0.11.

Contact the author at [email protected]

Quick facts: Exactus, Inc.

Price: 0.0526 USD

OTCQB:EXDI
Market: OTCQB
Market Cap: $2.73 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Exactus, Inc. named herein, including the promotion by the Company of Exactus, Inc. in any Content on the Site, the Company receives from said...

FOR OUR FULL DISCLAIMER CLICK HERE

Exactus off to a great start in 2020 signing a number of Hemp contracts

Exactus (OTCQB: EXDI) President Derek Du Chesne joined Steve Darling from Proactive with news the company is seeing a strong start to 2020 with new customers signing purchase orders. Du Chesne also told Proactive about their new hemp buyback program that was put in place to help farmers...

on 06/09/2020

2 min read