Another cannabis producer has come out with news to make its presence felt in an ever-expanding field.
Delray Beach, Florida-based Exactus, Inc. (OTC:EXDI) today announced that its executive team has returned from an assessment of the farm in Southwest Oregon reported that the crop is healthy and appears to be on track to produce approximately 30,000 plus pounds of smokable top flower, up from the original estimate of 20,000.
EXDI, which dubs itself, "a farmer and manufacturer of hemp-derived phytocannabinoid products", also says the smokable hemp market is accelerating at a rapid rate and we have positioned the company to try to capitalize on this growing opportunity.
Prices of premium hemp are currently ranging from $200 to $700 per pound on the wholesale market, and multiply as move the wholesale flower is moved through the value chain into single use products, such as pre-rolls and hemp flower cigarettes.
Farmers initiated the harvest of the top flower earlier this month and will continue harvesting through November.
Shares hiked 12.5 cents, or 21.7%, to 70 cents early Tuesday afternoon, on volume of 57,000 shares.
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