DELRAY BEACH, Fla., Dec. 17, 2019 (GLOBE NEWSWIRE) -- Exactus, Inc. (OTCQB:EXDI) (the “Company”), a hemp farmer and manufacturer of hemp-derived phytocannabinoid products, today announced new initiatives to expand its sales, marketing and distribution by establishing new e-commerce platforms with the addition of experienced professionals responsible for building out its wholesale, retail and direct to consumer sales channels.
Through these efforts and the addition of new personnel, the Company will be able to expand its sales of branded consumer products while focusing on developing its manufacturing and distribution of CBD products produced from its recently completed and highly successful 2019 harvest. Exactus has proven its farming proficiency as it turns to its planned entry into the highly lucrative direct to consumer, retail and wholesale markets for finished CBD consumer products. E-commerce, direct selling programs and call centers are all being prepared to support the direct to consumer and business to business efforts that will be forthcoming in future months. The Company will principally focus on introducing and expanding its premium Exactus™ and LeVor Collection™ lines while growing its existing Green Goddess Extracts™ brand.
The Company has appointed Brian Podolak to the position of Vice President of Sales and Marketing and James Sposato to the position of Chief Information Officer.
Mr. Podolak has for the past two years worked at a global cannabis and CBD company where he developed sales and marketing strategies, and has over 20 years of internet marketing and sales team leadership experience. His accomplishments include establishing a large online marketing organization focused on pharmacy sales that reached $55 million in annual sales and a successful call center which employed over 300 employees.
Mr. Sposato has led numerous software development teams. Mr. Sposato joined forces with Unique Software Solutions to create ShipFast!, the first software based UPS Manifest System and served as senior developer and project manager at Peoples Telephone Company. Mr. Sposato also was Chief Architect and designed the E-Commerce credit card aggregation system for Red Knot purchased by Digital Commerce International. He teamed up with Mr. Podolak to create the platform for Autolaunchpad sold to Gubagoo, Inc. the leader in automotive chat.
To learn more about Exactus, Inc., visit the website at www.exactushemp.com.
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™, LeVor Collection™, 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).
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.
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.
Chief Strategy Officer
Released December 17, 2019