Exactus Inc (OTCQB:EXDI) has announced a hemp buyback program to help support farmers who buy seeds from the company and struggle during planting season due to the coronavirus (COVID-19) pandemic.
The company said it will purchase back hemp biomass that meets its processing specifications at fair market value from farmers who buy Exactus’ feminized CBD seeds. The group added that it will match every dollar farmers spend on seeds for those who opt into the program.
“We understand that farmers have been greatly impacted by COVID-19 and we want to provide an opportunity for them to find relief from any financial hardship they may have occurred during this time,” Exactus President Derek Du Chesne said in a statement.
“After the 2019 harvest I met with a great deal of farmers that didn’t have an outlet to sell their harvest. In addition to supplying feminized genetics and consulting for our farming partners to help ensure a successful 2020 harvest, we created a buyback program to not only help farmers but as a way for us to give back during such turbulent times and alleviate the uncertainty that inherently comes with farming,” Du Chesne added.
Earlier this year, Exactus launched its genetics division to supply farmers with US Department of Agriculture (USDA) compliant feminized CBD and cannabigerol (CBG) hemp seeds. Feminized seeds produce a crop of entirely female plants, which streamlines growing cycles.
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