DELRAY BEACH, Fla., June 24, 2019 (GLOBE NEWSWIRE) -- Exactus Inc. (OTCQB: EXDI) (the “Company”), a healthcare company pursuing opportunities in Hemp derived Cannabidiol (CBD) products, is pleased to announce the appointment of Bobby Yampolsky to its Board of Directors, effective June 24, 2019.
“We are honored to appoint Bobby Yampolsky to the Board of Directors,” states Philip Young, CEO of Exactus, Inc. “Bobby’s extensive background in the luxury market and his strong international business acumen are valuable assets to Exactus and our shareholders as we continue to grow and develop the Company’s retail presence and brand awareness.”
“I am grateful for the opportunity to serve on the Exactus Board of Directors,” said Bobby Yampolsky. “Exactus is working to transform the CBD industry by cultivating an experience-based client journey fueled by transparency and client satisfaction; I look forward to having a direct impact with a hands-on approach to assisting the Company with their nationwide retail strategy.”
Background on Bobby Yampolsky:
Bobby Yampolsky’s story is the definition of the American dream, immigrating from Ukraine: starting with a family owned and operated business that spans two generations. Established in 1986, the family-owned company, with his vision East Coast Jewelry evolved into ECJ Luxe in 2015 expanding to multiple locations throughout southern Florida. ECJ Luxe provides its affluent global clientele a luxury shopping destination that specializes in an array of ultra exclusive items including everything from high end time pieces, jewelry and diamonds, to exotic cars and yachts.
At the young age of 19, Mr. Yampolsky opened East Coast Jewelry on Worth Ave. in West Palm Beach, one of the most prominent locations in the United States jumpstarting his career as a serial entrepreneur and international real estate investor. Following his success in the jewelry business, Mr. Yampolsky went on to own and operate multiple businesses and build an international real estate portfolio including the purchase of a three-story building that is a staple and an icon in the city of Delray Beach, Florida.
In addition to his jewelry enterprise, restaurant, nightclub, and real estate investments, Bobby self funded Ceed2Med where he is CEO and Co-Founder. Ceed2Med is a hemp and hemp-derivative supply sourcing, production, distribution, and development company that secures production of industrial hemp biomass and raw ingredients that invests in developing supply chain partners and distribution channels worldwide. Ceed2Med is currently the largest shareholder of Exactus Inc.
Bobby Yampolsky is a well-respected member of the southern Florida community and recognized for his generous contributions to many organizations.
To learn more about Exactus, Inc. visit the website at www.exactusinc.com.
Exactus Inc., is pursuing opportunities in hemp derived Cannabidiol, which is more commonly referred to as CBD. Industrial hemp is a type of cannabis plant containing less than 0.3% THC (tetrahydrocannabinol), which is the psychoactive component of the cannabis plant. Industrial hemp is cultivated for the plant’s seed, fiber, and extracts. After 40 years of prohibition, the Agricultural Improvement Act of 2018, known as the 2018 Farm Bill, legalized hemp on the federal level. Hemp production will be regulated by the United States Department of Agriculture (USDA) and the states. As a result, Hemp has generally been removed from the Controlled Substances Act (CSA) and the Drug Enforcement Administration (DEA). A potential risk of growing hemp in the United States is that the entire crop must be destroyed if it tests at a THC percentage greater than 0.3%.
For more information about Exactus: www.exactusinc.com.
Investing in our securities involves a high degree of risk. Before making an investment decision, you should carefully consider the risks, uncertainties and forward-looking statements described under "Risk Factors" in Item 1A of our most recent Form 10-K for the fiscal year ended December 31, 2018 filed with the Securities and Exchange Commission (the "SEC") on March 29, 2019 and under the heading “Risk Factors” in our Current Report on Form 8-K filed with the SEC on January 14, 2019, and in other periodic and current reports we file with the SEC. If any of these risks were to occur, our business, financial condition or results of operations would likely suffer. In that event, the value of our securities could decline, and you could lose part or all of your investment. The risks and uncertainties we describe are not the only ones facing us. Additional risks not presently known to us or that we currently deem immaterial may also impair our business operations. In addition, our past financial performance may not be a reliable indicator of future performance, and historical trends should not be used to anticipate results in the future. See "Safe Harbor" below.
Safe Harbor - Forward-Looking Statements
The information provided in this press release may include forward-looking statements relating to future events or the future financial performance of the Company. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Words such as "anticipates," "plans," "expects," "intends," "will," "potential," "hope" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon current expectations of the Company and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release relating to the Company may be found in the Company's periodic and current filings with the SEC, including the factors described in the sections entitled "Risk Factors", copies of which may be obtained from the SEC's website at www.sec.gov. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company does not intend to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.
Chief Strategy Officer
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Released June 24, 2019