Endexx® Highlights Fiscal Fourth Quarter 2022 Accomplishments

Rhea-AI Summary

Endexx Corporation (OTC:EDXC) reports significant progress in marketing and distribution, enhancing its position for a strong fiscal 2023. The company has expanded its Blesswell™ skincare line into over 8,000 retail stores, including Target and Amazon, and increased its international presence to 13 countries. The acquisition of HYLA adds a non-nicotine, guarana-based vape product to its offerings, facilitating further distribution growth. Additionally, Endexx improved its balance sheet by replacing convertible debt with a non-convertible debt facility. The company secured over 200,000 new purchase orders in its first month post-acquisition.

Positive

• Expanded Blesswell™ skincare line to over 8,000 retail stores in the U.S.
• Increased international distribution of Blesswell™ to 13 countries.
• Acquisition of HYLA provides access to new revenue streams and market niches.
• Improved balance sheet by replacing convertible debt with a simple Promissory Note.
• Secured over 200,000 new purchase orders in the first month after acquiring HYLA.

Negative

• None.

Significant Progress in Marketing and Distribution Adds to Recent HYLA™ Acquisition to Position Company for Strong Fiscal 2023

CAVE CREEK, AZ, Oct. 06, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – Endexx Corporation (OTC:EDXC), a provider of innovative, plant-based, sustainable wellness and skincare products, reviews key accomplishments over the Company’s fiscal fourth quarter ahead of financial reporting. 

Highlights include:

• Blesswell™ men’s skincare line introduced first in Target stores and then on Amazon.com.  Following Endexx’s CBD pain products availability at Walgreens and skincare at CVS , Endexx products are now available in four of the top eight retailers in the United States in over 8000 mass retail stores nationwide.
• Amazon distribution of Blesswell™ skin care products expanded beyond the United States to 13 countries, including Australia, Belgium, Canada, France, Germany Italy, Japan, Mexico, Netherlands, Poland, Spain, Sweden, and the United Kingdom
• Endexx significantly expanded its international distribution network and potential revenue streams though the controlling interest acquisition of HYLA, a non-nicotine, guarana-based vape product available in Germany, Italy, Israel, Egypt, Slovenia, Romania, Iran and Bahrain, the United States (where the HYLA formulations are produced) Canada, the Czech Republic, Georgia, Russia, Slovakia, South Africa, Switzerland, the United Arab Emirates, the United Kingdom, and Uzbekistan
• Endexx strengthened its balance sheet by entering into settlement, lock-up and leak-out agreements with its Historic Investors, in which each Historic Investor agreed to exchange its pre-acquisition Convertible Note and Warrants with a replacement simple Promissory Note.  This new Historic Investor Replacement Note removed the convertible debt and warrants, replaced by a simple, non-convertible debt facility with an 18-month term.
• HYLA secured two new purchase orders exceeding 200,000 units in the first month of joining Endexx.

Todd Davis, CEO of Endexx, stated, “The significant events of the fiscal fourth quarter have positioned us to rapidly accelerate our reach within the retail segment for our skin care and pain products by establishing our presence in key retail venues.  The acquisition of HYLA has further expanded our distribution network internationally.  This positions us to markedly expand our revenue both through the sales and marketing of HYLA’s unique non-nicotine, guarana-based vape product, which we believe will fill an important and in-demand market niche, as well as providing us with international access to market our other product lines in those regions where HYLA had already established a presence.  We are optimistic about the future of Endexx, as we are executing, we are already beginning to see indications of our future potential.  We look forward to sharing more about our progress in the weeks and months to come.”

About Endexx Corporation

Endexx Corporation develops and distributes all natural, plant-derived topical skincare and wellness products.  Endexx products vary from balms, creams, lotions, butters, masks, scrubs, and oils, all with the shared purpose of healthy skin and grooming wellness.  The science behind these products involves a decade of clinical research in the field and lab work to provide functional formulation with ingredients for optimal absorption and support of skin health.

www.endexx.com

www.tryhyla.com

www.cbdunlimited.com

www.blesswell.co

www.blesswellskincare.com

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

We caution that any forward-looking statements (as such term is defined in the U.S. Private Securities Litigation Reform Act of 1995) contained in this press release or made by us, our management, or our spokespeople involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Forward-looking statements include, without limitation, statements regarding our future operating results, the implementation and impact of our strategic plans, and our ability to meet environmental, social, and governance goals. Words such as “estimate,” “commit,” “target,” “goal,” “project,” “plan,” “believe,” “seek,” “strive,” “expect,” “anticipate,” “intend,” “potential” and any similar expressions may identify forward-looking statements. Risks associated with the following factors, among others, could affect our financial performance and cause actual results to differ materially from those expressed or implied in any forward-looking statements:

Except as may be required by law, we assume no obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release to reflect circumstances existing after the date of this press release or to reflect the occurrence of future events, even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized. More information on potential factors that could affect our results is included “Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2022.

For further information, please contact:
Endexx Corporation
Endexx@endexx.com
480-595-6900

Investors:
Scott Arnold
CORE IR
scotta@coreir.com

Media:
Jules Abraham
CORE IR
julesa@coreir.com
917-885-7378

FAQ

What are the recent accomplishments of Endexx Corporation (EDXC)?

Endexx Corporation has expanded its Blesswell™ skincare line to over 8,000 retail stores, launched internationally in 13 countries, and acquired HYLA, significantly enhancing its distribution network.

How has Endexx improved its financial position recently?

Endexx strengthened its balance sheet by replacing convertible debt with a simple non-convertible Promissory Note, reducing financial liabilities.

What is the significance of the HYLA acquisition for Endexx (EDXC)?

The acquisition of HYLA provides Endexx with a unique non-nicotine, guarana-based vape product and enhances its international distribution capabilities, potentially increasing revenue.

How many new purchase orders did Endexx secure after acquiring HYLA?

Endexx secured two new purchase orders exceeding 200,000 units in the first month after acquiring HYLA.