Exactus Inc. (OTCQB:EXDI) has acquired Green Goddess Extracts, a highly regarded Florida contract manufacturer and formulator of hemp and vape products which distributes a premium line of high-quality hemp products sold through distributors and online.
The OTCQB-listed healthcare company pursuing opportunities in hemp derived cannabidiol (CBD) products noted that Green Goddess Extracts was established in 2017 in order to target CBD products to mass markets through distribution channels including convenience stores, vape shops, gas stations, and tobacco retail storefronts.
It said Green Goddess has been successfully distributing its products through these channels and online at www.greengoddessextracts.com.
The company pointed out that the acquisition immediately provides Exactus with a full complement of local manufacturing and production capabilities including proprietary formulations and flavors, a clean room, warehousing, distribution and online sales, all of which will be used by the Company to expand its own existing and upcoming product lines.
Emiliano Aloi, president of Exactus said: “Green Goddess was an easy decision when evaluating the right company to partner with. Their proprietary formulations along with the product line they offer provide Exactus the right distribution channels to expand our footprint. In anticipation of a successful harvest, the company continues to evaluate additional distribution channels that we anticipate completing within the next few months.”
In addition, Alex Del La Espriella, founder and CEO of Green Goddess, has joined Exactus as Vice President of Product Development.
De La Espriella commented: “Green Goddess will utilize the ingredients to produce premium finished products from Exactus, which is becoming known for its full accountability from farm to ingredient to finished product.
“These are the quality controls that every company in the industry is searching for and we expect to become standard requirements in future regulations. I look forward to building this brand into an internationally known company that takes the proper approach to sourcing the finest ingredients.”
Building the brand
The Green Goddess product line includes premium hemp flower, pre-rolled hemp flower, topicals, tinctures, and concentrates which Exactus plans to leverage to create a transparent, trustworthy brand that is built off of a quality-controlled supply chain that ensures industry leading standards.
These products will be showcased at the Company’s brand launch to be held today, August 2 at the USA CBD Expo at the Miami Beach Convention Center in Miami, Florida.
At the start of July, Exactus revealed it had made significant progress on the two 100 acre industrial hemp farms it owns located in Southwest Oregon.
The group said farming operations are ahead of schedule and, following the mid-September harvest of the top flower, it is forecasting final production per acre to exceed 2,000 pounds of dry flower biomass, yielding over 40,000,000 mg of active cannabinoids.
It added that end consumer product stock keeping units (SKUs) range from 200mg up to 6,000mg and average around 750mg per sellable unit.