Hemptown was well-capitalized and planning an IPO last year. Now this is obviously put on hold. EXDI may be their backdoor to the public markets, via a reverse merger. I don't necessarily think the climate for a reverse merger is particularly good either...
However, sometime down the road, if the industry becomes more mainstream and institutional investors become attracted to it, this could become a viable plan: reverse merger with Hemptown to scale-up, another reverse stock split to get the shares well over $4.00 and then list on NASDAQ to have better financing options. It's ways off, I think, but sounds like a logical pathway, if they can survive in the meantime. (that's a sizeable "if" here..)
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