Panacea Life Sciences, Inc. acquired Exactus, Inc. for $54.5 million in a reverse merger transaction.
July 30, 2021
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Panacea Life Sciences, Inc. acquired Exactus, Inc. (OTCPK:EXDI) for $54.5 million in a reverse merger transaction on June 30, 2021. Under the transaction, Exactus, Inc will issue 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. Larry Wert, Chairman of Exactus will continue as combined company's board of directors and resigned as Chairman. Leslie Buttorff Founder of Panacea, will lead combined companies as Chief Executive Officer. The combined company will continue in the CBD arena. Following the closing the name of combined entity will be changed Paradox Capital Partners, LLC.
Panacea Life Sciences, Inc. completed the acquisition of Exactus, Inc. (OTCPK:EXDI) on June 30, 2021.
Panacea Life Sciences Holdings, Inc. is a holding company organized as a plant-based natural health ingredient and product company. It specializes in the development, manufacturing, research, and distribution of products with natural health and wellness market segment for both humans and animals. The Companyâs subsidiary, Panacea Life Sciences, Inc. (PLS) is engaged in the production, distribution, research, and manufacturing of nutraceuticals, cannabinoids, mushrooms, kratom, and other natural, plant-based ingredients and products. The Company also offers natural remedies within its branded product lines for every aspect of life, including PANA Health, PANA Beauty, PANA Sport, PANA Pet, PANA Pure, and PANA Life. It also operates 51,000 square foot current good manufacturing practice (cGMP) facility located in Golden, Colorado. The Company, through Panacea Life Sciences Holdings, Inc., manages six retail locations and a distribution center situated in the Tampa, Florida area.
PANACEA LIFE SCIENCES HOLDINGS, INC. 
