---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-21-007695"
form_type: "8-K"
ticker: "PLSH"
cik: "0001552189"
company_name: "PANACEA LIFE SCIENCES HOLDINGS, INC."
filed_at: "2021-07-07T23:59:59+00:00"
generated_at: "2026-06-30T06:55:34.942546+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Exactus acquires Panacea Life Sciences; Leslie Buttorff becomes CEO

## Summary
- Exactus issues 473.6M common shares + preferred stock to acquire Panacea; Buttorff owns ~61% fully diluted.
- Leslie Buttorff named CEO/CFO with $380K salary plus $2.2M in shares upon NASDAQ listing.
- 22nd Century Group (XXII) receives 11.6% stake in combined company after exchanging Panacea preferred.
- Board reduced to two directors; future additions include XXII CEO Jim Mish and Dr. Janice Nerger.
- Reverse stock split 1-for-28 approved; company to rename as Panacea Life Sciences Holdings, Inc.

## SEC filing metadata
- accession: 0001654954-21-007695
- form_type: 8-K
- ticker: PLSH
- cik: 0001552189
- company_name: PANACEA LIFE SCIENCES HOLDINGS, INC.
- filed_at: 2021-07-07T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 3.02, 5.02, 5.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1552189/000165495421007695/0001654954-21-007695-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1552189/000165495421007695/exdi8k_june302021.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-21-007695
- JSON: https://secwatch.observer/filing/0001654954-21-007695.json
- Plain text: https://secwatch.observer/filing/0001654954-21-007695.txt

## Key facts
- Executive change
  John Price resigned as director at PANACEA LIFE SCIENCES HOLDINGS, INC..
  - Action: resigned
  - Role: director
  source text: John Price, a director (who had not held any officer positions with the Company), previously resigned from as a director of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1552189/000165495421007695/0001654954-21-007695-index.htm
- Executive change
  Leslie Buttorff was appointed as director at PANACEA LIFE SCIENCES HOLDINGS, INC..
  - Action: appointed
  - Role: director
  source text: Leslie Buttorff was appointed director.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1552189/000165495421007695/0001654954-21-007695-index.htm
- Executive change
  Mr. Wert resigned as Executive Chairman at PANACEA LIFE SCIENCES HOLDINGS, INC..
  - Action: resigned
  - Role: Executive Chairman
  source text: Mr. Wert previously was Executive Chairman but resigned from that role.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1552189/000165495421007695/0001654954-21-007695-index.htm
- Executive change
  Julian Pittam resigned as director at PANACEA LIFE SCIENCES HOLDINGS, INC..
  - Action: resigned
  - Role: director
  source text: On June 30, 2021, Julian Pittam resigned as director of the Company
  evidence_url: https://www.sec.gov/Archives/edgar/data/1552189/000165495421007695/0001654954-21-007695-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.