Trying to give itself a competitive advantage, Delray Beach, Fla.-based Exactus, Inc. (OTC:EXDI) came out Tuesday with a bold announcement.
The company, a manufacturer of hemp-derived phytocannabinoid products, informed investors it has acquired the luxury cosmetic brand LeVor Collection, a health, wellness and beauty company located in South Florida, sharing the many natural advantages and benefits of the cannabis plant.
LeVor Collection is an all-virtual brand, manufactured by an established cosmetics manufacturer in cGMP facilities, and produced in Real Time Inventory interfaced to a multiplicity of online distribution platforms.
Said CEO Emiliano Aloi, "This acquisition comes at a perfect time for us. It is directly connected to RTI cGMP manufacturing and fulfillment that we can leverage to scale very fast without compromising our existing growth, maximizing every marketing dollar used in this division to convert to revenue and profitability."
Shares in EXDI springboarded 14 cents, or 21.5%, to 79 cents, early Tuesday afternoon, on volume of 86,000.
