Exactus, Inc. Enters into the Cosmetic Market Through Acquisition of Luxury Cosmetics Brand LeVor
DELRAY BEACH, Fla., Oct. 15, 2019 (GLOBE NEWSWIRE) — Exactus, Inc. (OTCQB:EXDI) (the “Company”), a farmer and manufacturer of hemp-derived phytocannabinoid products, today announced that it has acquired the luxury cosmetic brand LeVor Collection, a health, wellness and beauty company located in South Florida, providing innovative health and beauty products that go beyond convention, sharing the many natural advantages and benefits of the cannabis plant.
The acquisition expands the brand portfolio and provides the company a distribution channel into the rapidly growing cosmetic market.
According to the Brightfield Group, one of the largest and fastest growing segments is personal care products including CBD infused topical cosmetics and body care products which are expected to grow from $1.3bn in 2019 at a CAGR of 169% to 2018-22.
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. The newly formed company is pre-revenue and provides Exactus a turn-key solution to rapidly scale up its e-commerce platform.
Emiliano Aloi, President & CEO of Exactus, said, “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.”
LeVor offers luxury cannabinoid-infused cosmetic products that begin with its high-quality ingredients for a stimulating, joyful and comforting experience. LeVor’s products include highly effective, premier skin care applications supported by advanced research and integrity.
LeVor provides an innovative approach to the natural anti-aging market with products that are free of paragon, petroleum, formaldehyde and/or gluten.
Every product is certified as Cruelty Free and is Made in U.S.A. in cGMP-certified facilities.
In addition, Exactus is also proud to announce that it has decided to dedicate a portion of proceeds generated from the LeVor Collection to the Funding Another Day Foundation in Benefit of Mental health.
To learn more about Exactus, Inc., visit the website at www.exactusinc.com.
Exactus Inc. is dedicated to introducing hemp-derived phytocannabinoid products into mainstream consumer markets. The Company has made investments in farming and has over 200 acres of CBD-rich hemp in Southwest Oregon. The Company is introducing a range of consumer brands, such as Green Goddess Extracts, Phenologie, Paradise CBD and Exactus. Hemp is a legal type of cannabis plant containing less than 0.3% THC (tetrahydrocannabinol), which is the psychoactive component of the cannabis plant. After 40 years of prohibition, the Agricultural Improvement Act of 2018, known as the 2018 Farm Bill, legalized hemp at the federal level. Hemp production will be regulated by the United States Department of Agriculture (USDA) and the states. As a result, in 2019 hemp was generally removed from the Controlled Substances Act (CSA) and enforcement by the Drug Enforcement Administration (DEA).
For more information about Exactus: www.exactusinc.com.
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Source: Exactus, Inc.
Released October 15, 2019