Exactus stock is climbing today after the company announced an endorsement and co-branding deal with Grammy-nominated celebrity producer and songwriter duo Cool & Dre.
The duo founded record label Epidemic Music back in 2004 and have since worked with some of the biggest names in the hip-hop game, from Jay-Z to Kendrick Lamar to Drake, and are well-known for their work on hits such as 50 Cent's "Hate It or Love It." Having sold over 75 million records worldwide, their partnership with Exactus (OTCQB:EXDI) is a huge coup for the company, and it's no surprise to see Exactus stock rocket up 17.5% today.
The deal is more than just a celebrity endorsement of the Exactus brand, but an activist campaign to raise awareness for cannabis's medicinal qualities with regards to the treatment of Crohn's Disease, which Cool has been suffering with for over 20 years. "With over 3 million cases of IBD and almost 1 million diagnosed Crohn’s patients in the US alone, we want to support Cool’s advocacy in bringing awareness and cannabinoid research to aid this community,” said CEO of Exactus, Emiliano Aloi. Exactus shares are currently trading at $0.71.
Bobby Yampolsky, Chairman of the Board of Exactus, said, “I have known Cool & Dre for years and it is of great personal value that we can work on something together that truly has the potential to change lives. Our relationship with Cool & Dre will go beyond becoming ambassadors to Exactus, they will also play an integral role in developing Green Goddess Extracts into a global brand.”
More Gains For Exactus Stock
Today's gains in Exactus stock make for more good reading for investors, after climbing last week following news of two major supply agreements after a better than expected harvest. The Florida-based firm said it will now produce 30,000 lbs of cannabis product compared to the previously stated figure of 20,000 lbs. As a result, the company has entered into two new supply deals with Ceed2Med and Canntab Therapeutics (CSE:PILL) (OTCQB:CTABF).
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