DELRAY BEACH, Fla., Sept. 24, 2019 (GLOBE NEWSWIRE) -- Exactus, Inc. (OTCQB:EXDI) (the “Company”), a farmer and manufacturer of hemp-derived phytocannabinoid products, today announced that its executive team has returned from an assessment of the farm in Southwest Oregon and is pleased to report that the crop is healthy and appears to be on track to produce approximately 30,000 plus pounds of smokable top flower, up from the original estimate of 20,000.
The smokable hemp market is accelerating at a rapid rate and we have positioned the Company to try to capitalize on this growing opportunity. Prices of premium hemp are currently ranging from $200 to $700 per pound on the wholesale market, and multiply as you move the wholesale flower through the value chain into single use products, such as pre-rolls and hemp flower cigarettes.
Farmers initiated the harvest of the top flower on September 15th and will continue harvesting through November.
The company is currently taking orders of the following strains of top flower for distribution:
Suver Haze®: Suver Haze has the most unique and intoxicating nose in the CBD line; nearly equal parts farnesene and beta-caryophyllene as the co-dominant terpenes create an exotic sour apple flavor. This variety is known for open flower structure, resulting in record-setting resin content.
Special Sauce: The flagship line, containing exotic astringent berry smells, beautiful pink pistils, and some of the highest oil returns of any industrial hemp on the planet. The strain’s true F1 progeny are testaments to what is possible with terpenes. Flowers are smaller than others, but end up very dense and coated in glistening resin. This is a top-seller in the international trimmed flower market and peerless for full spectrum oil extraction. Special Sauce possesses the highest average CBD content of all lines and is a true gift to smell.
Lifter: Carries a farnesene dominant terpene profile, with incredible vegetative vigor and grows like a bush with rock-hard flowers, creating vigorous bushy, upright growth patterns. The flavor is very sought after by consumers.
Hawaiian Haze®: A cross-breed between a specially selected Neville’s Haze male specimen and the widely popular ACDC, Hawaiian Haze emanates truly special flavors that used to emanate from imported Hawaiian flowers (beta-carypholene and humulene are key secondary and tertiary terpenes). Hawaiian Haze brings farmers unique equatorially-inspired, long season flavor with large yielding, modern hybrid flower structures. This has been among the most popular flower products since its first field trials in 2017.
Sour Space Candy: The CBD-dominant Sour Tsunami cut used in this cross has the strongest stalk of any plant we have grown and sports a unique, terpinolene-forward flavor similar to GG4 and the Sour Diesel / Chem / OG lines. This variety yields a unique flavor profile reminiscent of sour candy from outer space. Growers will be rewarded with full, golf ball-sized flowers that will stay intact, even when subjected to large-scale machine trimming.
Final harvest numbers including biomass will be available by the end of October.
Delivery of 2019 flower products are expected to begin in October following the drying, processing and packaging of the products.
For top flower purchases, please contact Nicolas Cavo, VP of Sales at email@example.com for more information.
To learn more about Exactus, Inc., visit the website at www.exactusinc.com.
Exactus, Inc. is dedicated to introducing hemp-derived phytocannabinoid products 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 legal type of cannabis plant containing less than 0.3% THC (tetrahydrocannabinol), which is the psychoactive component of the cannabis plant. After 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).
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 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.
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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.
Chief Strategy Officer
Released September 24, 2019