Effective June 24, 2020, Kenneth Puzder resigned from his position as a member of our Board of Directors. There were no known disagreements with Mr. Puzder regarding any matter relating to our operations, policies, or practices. Mr. Puzder will continue to serve as our Chief Financial Officer.

Also on June 24, 2020, our Interim CEO, Emiliano Aloi, was appointed to serve as an additional member of our Board of Directors.

Emiliano Aloi, age 46, has served as our Interim Chief Executive Officer since April 24, 2020. He also served as our President from March 11, 2019 through April 24, 2020 and has served as a member of our Advisory Board since January 9, 2019. Prior to joining Exactus Inc., Mr. Aloi co-founded Ceed2Med, LLC (“C2M”) in 2018 a global sourcing and distribution platform for industrial hemp and industrial hemp-derived products. From January, 2017 to November, 2017, Mr. Aloi served as Vice President and Director of Strategic Development for GenCanna Global, Inc., where he initiated a go-to-market strategy, recruited the commercial leadership team, developed compliance, executed product launches, and advanced distribution in European markets. In 2016 Mr. Aloi achieved the first country-wide agricultural permit for hemp cultivation in Uruguay. In addition, Mr. Aloi co-sponsored research programs for Stevia and Aloe Vera extraction methods from 2010 to 2013 and participated in the insertion of Chia as a novel crop in Paraguay in 2011. Mr. Aloi also co-developed the agricultural solid biofuels program for Camargo Correas Cement company, a Loma Negra subsidiary from 2009 to 2011.

Mr. Aloi was a co-founder of C2M, our largest shareholder. For a description of our transactions with C2M, please refer to our Annual Report on Form 10-K filed May 22, 2020, under the heading “Certain Relationships and Related Transactions, and Director Independence.” Mr. Aloi will also continue to serve as our Interim CEO.

Finally, also on June 24, 2020, Alvaro Daniel Alberttis was appointed to serve as our new Chief Operating Officer.

Alvaro Daniel Alberttis, age 43, has served as a member of our Board of Directors since January 16, 2020. Mr. Alberttis is an entrepreneurial executive, advisor and investor with over twenty years of experience across diverse small-middle market businesses and nonprofit organizations. Since 2013, he has served as the Managing Director of Strategic Philanthropy for The Kannico Agency, LLC. At the Kannico Agency, Mr. Alberttis directs strategy and execution of the firm’s global philanthropic consulting operations. In addition, Mr. Alberttis is an experienced commercial banking executive, and has served in a multitude of financial advisory positions for consumers and corporations for over thirteen years. He began his commercial banking career as a Senior Branch Manager with a staff of thirty and transitioned into a Senior Commercial Banker advising clients in all industries with a specialization in Government, Large Nonprofit and Educational clients across the South East U.S. As a commercial banker, Mr. Alberttis has served with JP Morgan Chase, NA (2011-2017); PNC Bank NA (2007-2011); and TD Bank, NA (2004-2007). Since 2013, he has also served as a Trustee of the Quantum Foundation, a private philanthropic foundation focused solely on supporting healthcare initiatives. Mr. Alberttis holds a B.S. in Business Management from Lynn University (2010), and a Master\’s Degree in Nonprofit Management from Florida Atlantic University (2013).

Mr. Alberttis will also continue to serve as a member of our Board of Directors. Mr. Alberttis’ compensation and other employment arrangements for his service as COO will be determined in the near future.

About EXACTUS, INC. (OTCMKTS:EXDI)

Exactus, Inc. (Exactus), formerly Spiral Energy Tech, Inc., is a life science company. The Company will develop and commercialize Point-of-Care (POC) diagnostics for measuring proteolytic enzymes in the blood based on a detection platform. The Company’s primary business focus will be the development and commercialization of the FibriLyzer and related technology licensed by Exactus. The Company’s products will employ a disposable test biosensor strip combined with a portable hand held detection unit that provides a result in approximately 30 seconds. The Company intends to file to gain regulatory approval and launch its products in the United States and Europe.