GOLDEN, CO / ACCESSWIRE / October 28, 2021 / Exactus, Inc. (OTCQB:EXDID), (the "Company"), a cGMP certified, vertically integrated premium CBD and Cannabinoid company announced today that the Financial Industry Regulatory Authority, Inc. ("FINRA") has approved the Company's name change to "Panacea Life Sciences Holdings, Inc." (from Exactus, Inc.). This corporate action will be effective as of the open of trading on October 28, 2021. The new CUSIP number for the common stock will be 69810P109. The Company has also completed a 1 to 28 reverse stock split.
In connection with the name change, a temporary symbol, EXDID has been assigned to the company which will change to PLSH twenty business days from October 28, 2021.
These changes follow the Company's announcement, on June 30, 2021, of the successful completion of an exchange transaction with Exactus, Inc. pursuant to which Panacea Life Sciences, Inc. became a wholly-owned subsidiary of the Company.
Leslie Buttorff, Panacea's CEO & Executive Chairman, stated, "The name and ticker change is essential for the Company as we look forward to building awareness around the PANA brand foundation we have built as a leader in cannabinoid research and natural alternative medicines and our future goals of creating long-term shareholder value."
Exactus, Inc. (OTCQB:EXDID) (the "Company"), acquired Panacea Life Sciences, Inc. on June 30, 2021. Panacea, which was founded by Leslie Buttorff in 2017 as a woman-owned business, has attracted $20 million in initial investments. In 2019, these were followed up with a $14 million investment from 22nd Century Group, Inc. (NYSE American: XXII), a leading plant biotechnology company focused on technology to decrease nicotine in tobacco plants and uses its expertise for genetic engineering of hemp plants to modify cannabinoid levels used in manufacturing CBD, CBG and CBN.
Panacea Life Sciences, Inc. is a leader in production of legal, trace THC, hemp-derived cannabinoid products for consumers and pets that operates a 51,000 square foot cGMP certified facility in Golden, Colorado and the PANA Botanicals farm in western Colorado, complete with fully integrated extraction, manufacturing, testing and fulfillment. Panacea produces softgels, gummies, tinctures, sublingual tablets, cosmetics, and other topicals for purchase online (www.panacealife.com) and in stores as well as in smart kiosk vending machines being rolled out nationally.
If you would like more information about this topic or to learn more about Panacea and its products or our land-to-brand practices, please visit panacealife.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as may be required by law.
SOURCE: Exactus Inc.
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