Exactus, Inc. Provides Update On It’s Farming Activities At Exactus One World In Cave Junction, Oregon
DELRAY BEACH, Fla., July 02, 2019 (GLOBE NEWSWIRE) — Exactus Inc. (OTCQB: EXDI) (the “Company”), a healthcare company pursuing opportunities in Hemp derived Cannabidiol (CBD) products, is pleased to announce that the Company has made significant progress on the two 100 acre industrial hemp farms located in Southwest Oregon.
Farming operations are ahead of schedule and the Company is anticipating an initial AAA Top Flower cut of over 20,000 pounds of multiple strains by mid September.
- Rows are formed and drip irrigation has been installed on all acreage.
- Our effective germination rate and seedling growth was in excess of 95%.
- The last of the seedlings is ready for transplanting starting July 2nd.
- Planting operations are scheduled to be complete by July 8th.
- The last 50 acres will be triple planted for added density and will be completed by July 15th.
- We anticipate a full inventory of successfully rooted plants by July 31st.
“We have implemented extremely high-quality standards from the initiation of our farming operations and it’s paying off, our farms are on schedule, our plants are healthy, and we look forward to a successful harvest.” said Emiliano Aloi, President of Exactus. “Based on the successful germination and transplantation, we feel confident we are on track to meet or exceed the biomass projections contained in the independent fairness opinion from Scalar, LLC (“Scalar”)* highlighting EOW’s 2019 harvest estimated enterprise value between approximately $55 million and $74 million.”
Following the September harvest of the top flower, we are forecasting the final production per acre to exceed 2,000 pounds of dry flower biomass, yielding over 40,000,000 mg of active cannabinoids. End consumer product SKUs range from 200mg up to 6,000mg and average around 750mg per sellable unit.
Philip Young, Chief Executive Officer of Exactus stated, “We are investing ahead of our harvest to establish multiple commercial distribution channels and sales verticals. The successful planting of the seedlings gives us confidence that we will be able to realize significant crop value which we plan on converting into over forty SKU’s of consumer products which would be valued at multiples of the harvested biomass.
To learn more about Exactus, Inc. visit the website at www.exactusinc.com.
* Scalar employed traditional valuation methods including market, income, and cost valuation approaches, and relied on financial projections and forecasts prepared and provided by the Company. Link to Valuation Report available HERE.
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.
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Chief Strategy Officer
Source: Exactus, Inc.
Released July 2, 2019