secwatch.observer — SEC 8-K summary
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Issuer:     PANACEA LIFE SCIENCES HOLDINGS, INC. (PLSH)
CIK:        0001552189
Form:       8-K
Filed at:   2021-07-07T23:59:59+00:00
Accession:  0001654954-21-007695
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.95
Item codes: 1.01, 3.02, 5.02, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Exactus acquires Panacea Life Sciences; Leslie Buttorff becomes CEO
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1552189/000165495421007695/0001654954-21-007695-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1552189/000165495421007695/exdi8k_june302021.htm
  HTML page:      https://secwatch.observer/filing/0001654954-21-007695

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