DELRAY BEACH, Fla., June 26, 2019 (GLOBE NEWSWIRE) -- Exactus Inc. (OTCQB: EXDI) – a healthcare company pursuing opportunities in Hemp derived Cannabidiol (CBD) products, is pleased to announce the appointment of Steven Allen Schwartz to its Board of Directors, effective June 24, 2019.
“I am proud to join the Exactus Board and I look forward to working with Phil and the other Directors as the company builds for the future,” states Steven Schwartz. “This is an exciting time for the industry, and I am delighted to help position the company for success,” continues Schwartz.
Steven A. Schwartz, Exactus’s newest board member, holds an undergraduate degree from Syracuse University and studied at Adelphi University’s business school in Long Island, New York. A veteran of creating and managing corporate growth, Schwartz career spans over three decades in the manufacturing and apparel industries and can be traced back to the early years of Doe-Spun Inc, where he was responsible for a division of the international company. Schwartz currently serves as a consultant / advisor to several companies in the U.S.
"We are pleased to welcome Steven to the Exactus Board of Directors,” stated Phil Young, CEO of Exactus, Inc. “His diverse background complements our Board of Directors' skills and experiences, and we are confident that he will provide valuable perspectives as we continue to execute our strategy to drive profitability and enhance shareholder value."
To learn more about Exactus, Inc. visit the website at www.exactusinc.com.
Exactus Inc.,is pursuing opportunities in hemp derived Cannabidiol, which is more commonly referred to as CBD. Industrial hemp is a type of cannabis plant containing less than 0.3% THC (tetrahydrocannabinol), which is the psychoactive component of the cannabis plant. Industrial hemp is cultivated for the plant’s seed, fiber, and extracts. After 40 years of prohibition, the Agricultural Improvement Act of 2018, known as the 2018 Farm Bill, legalized hemp on the federal level. Hemp production will be regulated by the United States Department of Agriculture (USDA) and the states. As a result, Hemp has generally been removed from the Controlled Substances Act (CSA) and the Drug Enforcement Administration (DEA). A potential risk of growing hemp in the United States is that the entire crop must be destroyed if it tests at a THC percentage greater than 0.3%.
For more information about Exactus: www.exactusinc.com.
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 under the heading “Risk Factors” in our Current Report on Form 8-K filed with the SEC on January 14, 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. 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.
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Released June 26, 2019