Exactus BioSolutions, Inc. acquired Spiral Energy Tech., Inc. in a reverse merger transaction.
March 04, 2016
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Exactus BioSolutions, Inc. acquired Spiral Energy Tech., Inc. (OTCBB:SGYT) in a reverse merger transaction on February 29, 2016. Under the terms of the deal, a total of 32 million shares of newly-designated Series B-1 preferred stock of Spiral Energy Tech. have been issued to shareholders of Exactus BioSolutions, representing approximately 87% of voting control of Spiral Energy Tech. Pursuant to the share exchange agreement with Exactus, Spiral Energy Tech. appointed Exactus Board members Phillip J. Young and Timothy Ryan to serve as members of Board of Directors of Spiral Energy Tech. The Board of Directors of Spiral Energy Tech. approved the transaction. The Board of Directors and the stockholders of Exactus have each approved the transaction. Joe Laxague of Laxague Law, Inc. acted as legal advisor for Spiral Energy Tech.
Spiral Energy Tech., Inc. (OTCBB:SGYT) completed the acquisition of Exactus BioSolutions, Inc. on February 29, 2016.
Panacea Life Sciences Holdings, Inc. is a holding company organized as a plant-based natural health ingredient and product company. It specializes in the development, manufacturing, research, and distribution of products with natural health and wellness market segment for both humans and animals. The Companyâs subsidiary, Panacea Life Sciences, Inc. (PLS) is engaged in the production, distribution, research, and manufacturing of nutraceuticals, cannabinoids, mushrooms, kratom, and other natural, plant-based ingredients and products. The Company also offers natural remedies within its branded product lines for every aspect of life, including PANA Health, PANA Beauty, PANA Sport, PANA Pet, PANA Pure, and PANA Life. It also operates 51,000 square foot current good manufacturing practice (cGMP) facility located in Golden, Colorado. The Company, through Panacea Life Sciences Holdings, Inc., manages six retail locations and a distribution center situated in the Tampa, Florida area.
PANACEA LIFE SCIENCES HOLDINGS, INC. 
