Hemp newcomer Exactus Inc. (EXDI) is undaunted by the market’s challenges and recently said that it is on track for first-quarter gross sales to exceed gross sales of the entire prior 2019 calendar year. A few weeks ago Exactus announced it was developing a partnership with Hemptown USA that will position Exactus for rapid growth through this CBD and CBG partner.
Exactus entered the industry in 2019 before the raw materials price collapsed but that has not altered their course. The company’s hemp is grown specifically for cannabinoid & terpene profiles to serve the food, beverage, cosmetics, pets, and pharmaceutical industries. In addition to what they’re currently doing, they see tremendous potential for the hemp plant as a whole to service many other industries such as textile and energy.
“While many industries are at a standstill, Exactus continues to move forward in order to keep up with supply and demand. We are seeing an increase of interest in CBD and CBG while people look for natural alternatives to manage the many stressful aspects of life surrounding the virus,” said Bobby Yampolsky, Chairman of Exactus. “Exactus Interim CEO, Emiliano Aloi will further develop the production platforms for both companies, working in the fields with Hemptown to provide immeasurable benefits to both companies.”
The company noted that there are bottlenecks in the supply chain and its goal is to consolidate farms, processing, and finished goods manufacturing together under one umbrella to produce the highest quality cannabinoids more affordable to everyone.
New Executive Team
In 2019 Exactus and its board of directors decided to enter the hemp space and restructure their executive team to include interim CEO Emiliano Aloi who has over 20 years of experience in farming and agriculture. Aloi was behind the 2016 hemp genetics selection program in partnership with the University of Kentucky during his time at GenCanna. The collaboration started as a consequence of the market needing reliable and compliant genetics sources to help farmers ensure success in growing hemp which at the time was an emerging crop.
The company also brought on President/Chief Growth Officer, Derek Du Chesne after his successful run with EcoGen Laboratories. The addition of strong leadership in the hemp space is paving the way for Exactus as leaders in feminized CBD, CBG, and other specialty cannabinoid genetics. Prior to joining Exactus as Chief Growth Officer, Du Chesne was responsible for over $100 million in revenue at his previous company EcoGen Laboratories. He was also the CEO/Co-Founder of Healing Ventures, a marketing & supply chain firm that helped bring several leading CBD companies to market.
The hemp industry still in its infancy has had its number of lessons learned, especially in farming, which in general, carries an inherent climate risk and Exactus plans to mitigate most of these risks after many first-time hemp farmers in 2019 reported losing more than 50% of their crop.