Endexx’s International Division, Go Green Global, Announces Provisional Approval for Two Licenses in Jamaica
Endexx Corporation (EDXC) announced provisional approval for two licenses from Jamaica's Cannabis Licensing Authority through its subsidiary, Go Green Global Enterprises. The 'Herb House License' permits the opening of a retail store in Ocho Rios, poised to capitalize on significant tourist foot traffic. A 'Tier-2' grow license will enable marijuana cultivation and distribution. This expansion aims to increase revenue in Jamaica's emerging cannabis market. CEO Todd Davis highlighted the company's strategic efforts to establish a comprehensive international presence.
- Received provisional approval for a retail 'Herb House License' in Ocho Rios, Jamaica, enhancing revenue potential.
- Obtained a 'Tier-2' grow license, allowing for marijuana cultivation and distribution.
- Positioned for significant revenue generation in the burgeoning Jamaican cannabis market.
- The tourism industry has been adversely impacted by the Covid-19 pandemic, potentially affecting store performance.
- Forward-looking statements indicate risks and uncertainties, such as competition and global economic conditions.
CAVE CREEK, AZ, Oct. 13, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire -- Endexx Corporation (EDXC), also known as CBD Unlimited, a provider of innovative phytonutrient-based nutritional and wellness products, is pleased to announce that through its international subsidiary, Go Green Global Enterprises, Inc. (Go Green Global), the Company has received provisional approval for two licenses in Jamaica from the CLA (Cannabis Licensing Authority).
The retail “Herb House License” allows us to fully open our store in Ocho Rios, Jamaica. The store is located at the Taj Mahal Retail Mall directly located where all the Cruise Liners and Tourist ships arrive into port. Foot traffic during tourism season is extraordinary in this location. Typically, the season begins following “hurricane season” which is now. This year, the Covid19 Pandemic has dramatically impacted the tourism industry worldwide, Jamaica is no exception. Anticipation of Tourism and Cruise Liners returning to normal is building. Resumption is expected to begin before year end, and the store is fully prepared to open and meet the demand.
The second license GGG will receive is a “Tier-2” grow license which will allow for marijuana cultivation and distribution within Jamaica. The Company looks to continually increase its international footprint; receiving provisional license approval illustrates that the Company has surpassed significant hurdles, and persevered through these very challenging times in the international market. With this milestone, Go Green Global is positioned to generate significant revenues in the early stages of the legal cannabis market in Jamaica. Long term the company will seek to distribute its products internationally as export laws become established.
According to Marijuana Business Daily, “Jamaica has what it takes to develop a robust medical marijuana economy: license categories for small and large cultivators, regulations that allow a wide breadth of products, no license caps and a reputation as a world cannabis capital.”
“With our Jamaican subsidiary, we have the ability to break into several international markets. Back in 2018, we announced that we were pursuing multiple licenses in Jamaica to establish a vertical market to grow, process, transport, dispense, sell, and export our entire array of products, both current and future,” commented Mr. Todd Davis, Chief Executive Officer and Chairman of CBD Unlimited. “We are pleased to report that this hard work is proving fruitful as we expand our international footprint with this provisional retail and grow licenses. We look forward to an exceptional year of growth in fiscal 2021.”
According to Arcview Market Research and BDS Analytics, international sales of cannabis in regulated markets are on track to break
About Endexx
Endexx Corporation and its Division CBD Unlimited develops and distributes all-natural products from the cannabis sativa-L plant (hemp) with less than
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This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company’s ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the company’s business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company’s periodic filings with the Securities and Exchange Commission. The company undertakes no obligation to update any forward-looking statements.
Contact:
For further investor and media information, please contact:
Endexx Corporation
Todd Davis
Chairman & CEO
investorrelations@cbdunlimited.com
480-595-6900
FAQ
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