Exhibit 99.1
Exactus, Inc. Enters into Supply and Distribution Agreement with
Ceed2Med
DELRAY BEACH, Fla., November 20, 2019 (GLOBE NEWSWIRE) –
Exactus, Inc. (OTCQB:EXDI) (the “Company”), an
industrial hemp farm operator and manufacturer of hemp-derived
phytocannabinoid products, today announced that it has entered into
a supply agreement to provide Ceed2Med a minimum of 10,000 lbs of
2019 harvested flower from the Company’s 200 acre farms in
Southwest Oregon.
Emiliano
Aloi, President and CEO of Exactus states, “Ceed2Med is a
leader in distribution of high-quality bulk hemp products along the
east coast of the United States. We are establishing a solid supply
and distribution dynamic that allows them to service their demand
with our high-quality product, while we maximize the returns of our
bulk flower segment with minimal operational liabilities. By
working closely with Ceed2Med, we are accessing a much higher price
bracket than we would with bulk flower with our current operations.
Our focus can now be on expanding our finished product segment
which has a much larger profit opportunity for
us.”
Bobby
Yampolsky, CEO and Co-Founder of Ceed2Med and Chairman of the Board
of Exactus said, “We are a major shareholder and have
supported Exactus from the beginning. The quality of hemp flower
produced off of the Exactus farms is extremely impressive and we
are comfortable putting Ceed2Med’s reputation behind their
products. Ceed2Med has an extensive client portfolio and we know
that this product meets the highest quality requirements, allowing
Exactus to increase the returns for all shareholders, by harnessing
a big portion of the upside from our distribution
business.”
Pursuant
to the terms of the Agreement, Exactus will supply Ceed2Med a
minimum of 10,000 lbs of bulk untrimmed dry industrial hemp flower
in 150 lb humidity-controlled totes. Ceed2Med, in turn, will
complete the conditioning, trimming and packaging of the product as
per current wholesale market needs and distribute it to its clients
at a higher profitability point, sharing Exactus in the upside of
the operation.
To
learn more about Exactus, Inc., visit the website at www.exactushemp.com.
# # #
About Exactus
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™, Phenologie, Paradise
CBD and Exactus.
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).
Investor Notice
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, including our ability to service demand,
increase the returns of our bulk flower segment, expand
our finished product segment and the consequences of such
expansion, increase stockholder return, and experience
greater profits. 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.
Company Contact
Andrew Johnson
Chief Strategy Officer
Exactus Inc.
509-999-9695
ir@exactusinc.com