Exactus, Inc. has said the Financial Industry Regulatory Authority, Inc. (FINRA) has approved the company's name change to Panacea Life Sciences Holdings (OTCQB:EXDID), Inc which became effective as of the open of trading today, October 28, 2021.
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. The new CUSIP number for the common stock will be 69810P109. The company said it has also completed a 1 to 28 reverse stock split.
The changes follow the company's announcement, on June 30, 2021, of the successful completion of an exchange transaction with Exactus, under which Panacea Life Sciences, Inc. became a wholly-owned subsidiary of the company.
Leslie Buttorff, Panacea's CEO & executive chairman commented: "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."
READ: Exactus buys Colorado hemp product producer Panacea Life Sciences in stock deal
Panacea was founded by Buttorff in 2017 as a woman-owned business and has attracted $20 million in initial investments. In 2019, these were followed up with a $14 million investment from 22nd Century Group, Inc, 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.
The renamed company 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.