After a few years of activity in Canada, Panacea Life Sciences (TSXV: PHS) announced that it will be listing on the TSXV under the name of “Panacea Life Sciences Inc.”. This will make the company a TSXV-listed company and the first Canadian-listed applicant in the early medical marijuana industry. Panacea announced that it has entered into a Share Exchange Agreement with “High Yields Equity Inc.” under which it will issue 87,000,000 shares of common stock and that “High Yields” will exchange 1,000,000 shares of its common stock for each Panacea share.
Panacea Life Sciences is a growing Canadian cannabis company with a robust product portfolio and significant revenue growth. After a reverse-merger with another public cannabis company, the combined company will be one of the largest publicly traded medical cannabis companies in Canada.
On the morning of May 3, 2016, Panacea Life Sciences , announced that it had completed its reverse-merger with Clean Green, the company that owns the rights to the cannabis-derived drug Epidiolex.. Read more about panacea acquisition corp and let us know what you think.
Exactus is partnering with Panacea Life Sciences to create a leading CBD wellness platform
Leslie Buttorff, founder of Panacea, will lead both companies as CEO.
DELRAY BEACH, FL / ACCESSWIRE / 1. July 2021 / Exactus, Inc. (OTCQB:EXDI) (the Company), a leading provider of cannabis-derived ingredients (CBD/CBG), today announced the acquisition of Panacea Life Sciences, Inc. Panacea, which was founded in 2017 by Leslie Buttorff as a woman-owned company, received an initial investment of $20 million, followed by a $14 million investment from 22nd Century Group, Inc. (XXII) later in 2019, a leading plant biotechnology company focused on nicotine reduction technology in tobacco plants, will also use its expertise to genetically modify hemp and cannabis plants to increase cannabinoid content to produce CBD, CBG and CBN. 22nd Century exchanged its Panacea preferred stock for an 11.6% stake in Exactus. Larry Werth, Exactus’ board chairman and media executive, will also remain on Exactus’ board and step down as chairman.
Panacea Life Sciences is a leader in the production of legal, low-THC cannabinoid products from cannabis for consumers and pets. The Company operates a 51,000 square foot cGMP certified facility in Golden, Colorado and PANA Botanical Farms in Western Colorado with fully integrated production, manufacturing, testing and distribution systems. Panacea manufactures softgels, chewable tablets, infusions, sublingual tablets, cosmetics and other topical products available online (www.panacealife.com) and in stores, as well as in smart kiosk dispensers currently being rolled out across the country. In 2021, Exactus produced and sold cannabis and cannabis products from its 200-acre farm in Cave Junction, Oregon, which is known as a leading cannabis region. Panacea has also established the Cannabinoid Research Center at Colorado State University and supports medical research to evaluate the effects of cannabinoids on human health and well-being.
The attention we pay to quality and traceability is the hallmark of Panacea’s strategy, from seed to sale. With our state-of-the-art facilities for CO2 extraction, chromatography and product manufacturing, we can produce as much product as we need to meet our sales targets for the foreseeable future.
Leslie Buttorff, founder of Panacea
The company entered the CBD industry with a best-in-class SAP ERP system, developed for the cannabis industry by Quintel Management, that tracks the entire supply chain of each product and provides extensive back-office and production planning capabilities.
We think that’s what sets us apart from most cannabis companies and CBD companies, added Buttorff, who is also president and CEO of the management consulting firm SAP that she founded. In the chaos of the burgeoning cannabis and hashish industry, accurate supply chain accounting and reporting is critical to success. Unlike other companies, we sought to establish an industry standard for compliance and reporting, which was rewarded by our successful partnership and investment in shared technology with 22nd Century.
Since early 2021, we have focused on restructuring and properly positioning the company to make a strategic acquisition. We are very pleased to have met Leslie Buttorff and the Panacea team, as they have created a true gem of a CBD company. said Larry Werth, Executive Chairman of Exactus. During this process we evaluated many companies and Panacea came out on top in all respects. We are delighted to offer our loyal shareholders this opportunity to remain active in the CBD space. I would also like to thank Harvey Kesner, founder and investor in Exactus, and Andrew Johnson, who provided invaluable help and support during the difficult transition year and the Panacea transaction. Mr. Johnson has resigned as a member of Exactus as part of the closure, but will continue to work at Panacea to maintain investor relations.
About Panacea Life Sciences, Inc. Panacea Life Sciences is a woman-owned company that develops and manufactures the highest quality, most medically relevant and legal cannabis products for consumers and pets. From PANA Organic Botanicals in Needle Rock to a state-of-the-art extraction, manufacturing, testing and distribution center in Golden, Colorado, Panacea is active in every segment of the CBD product value chain. From cultivation to the manufacture of finished products, the company guarantees the quality of its products through rigorous testing protocols applied at every stage of the supply chain. Panacea offers the purest natural products in product lines for all aspects of life: PANA Health™, PANA Beauty®, PANA Sport™, PANA Pet®, PANA Pure® and PANA Life™.
Under the terms of the agreement, the Company issued 1,000,000 shares of Series C Convertible Preferred Stock, 1,000 shares of Series C-1 Convertible Preferred Stock and 1,000 shares of Series D Convertible Preferred Stock and 473,639,756 shares of common stock in exchange for one hundred percent (100%) of the capital stock of Panacea. Upon completion of the transaction, the company’s name will be changed to Panacea Life Sciences Holdings, Inc. The company also approved a 1-for-28 reverse stock split, subject to regulatory approval.
Paradox Capital Partners, LLC, Ft. Lauderdale, Florida, acted as counsel in this transaction.
For more information about Panacea and its products, as well as our best practices, please visit https://panacealife.com.
For more information about Exactus, Inc. visit www.exactushemp.com.
About Exactus Inc. (OTCQB:EXDI) is a leading manufacturer and supplier of hemp-derived ingredients and feminized hemp genetics. Exactus strives to have a positive impact on society and the environment by promoting sustainable agricultural practices. Exactus specializes in cannabis-derived ingredients (CBD/CBG/CBC/CBN) and feminized seeds that meet the highest standards for quality and traceability. Research and development keeps the company one step ahead of market trends and regulations. Exactus is at the forefront of product development for the beverage, food, pet, cosmetics, wellness and pharmaceutical industries.
Original press release
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Panacea Life Sciences Inc. is a Canadian-based vertically integrated publicly traded cannabis company with operations in Canada, the United States, and Puerto Rico. The company consists of a patient acquisition team, a cultivation team, a research and development team, a corporate services team, and an overall corporate administration team.. Read more about panacea acquisition corp news and let us know what you think.
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