Endexx’s International Division, Go Green Global, Granted Retailer Herb House License in Jamaica

Rhea-AI Summary

Endexx Corporation (OTC: EDXC) has received a “Retailer (Herb House) License” from the Jamaican Cannabis Licensing Authority for its subsidiary, Go Green Global Enterprises. This license allows Go Green Global to operate a medical marijuana dispensary in Ocho Rios, Jamaica, strategically located at the Taj Mahal Shopping Centre, enhancing access for tourists and locals alike. The grand opening is anticipated as the tourism sector recovers post-COVID-19. The company aims to expand its international presence in the growing cannabis market, projected to exceed $40 billion by 2024.

Positive

• Received a ‘Retailer (Herb House) License’ from the Jamaican Cannabis Licensing Authority.
• Strategically located dispensary in a high-foot-traffic area, expected to attract significant customer interest.
• Expansion potential as the global cannabis market is projected to exceed $40 billion by 2024.

Negative

• None.

CAVE CREEK, AZ, June 22, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Endexx Corporation (OTC: EDXC), a provider of innovative phytonutrient-based nutritional and wellness products, is honored to announce that its International subsidiary, Go Green Global Enterprises, Inc. (Go Green Global) in conjunction with Go Green Global Limited, a Jamaican Corporation, has been granted a “Certificate of Licence” by the CLA (Cannabis Licensing Authority), a division of the Jamaican Government.

The Certificate of License is titled: “Retailer (Herb House) License”.  Go Green Global Enterprises Limited is now licensed to handle Ganja in keeping with the conditions set out in “The Dangerous Drugs(Cannabis Licensing)(Interim) Regulations, 2016”.  The store is located in Ocho Rios, Jamaica at the Taj Mahal Shopping Centre, 4 Main Street, in the Parish of Saint Ann.

The “Herb House”, the equivalent of a “Medical Marijuana Dispensary” in the United States, is now preparing for its Grand Opening. The mall is located where all the Cruise Liners and Tourist ships arrive into port and is centrally located in Ocho Rios providing access to the local community. Foot traffic during tourism season is extraordinary in this location. Following the Covid19 Pandemic, the tourism business is highly anticipated to return to Jamaica in late summer or early fall.  

Endexx looks to continually increase its international footprint. Receiving the license approval illustrates that Go Green Global is positioned to generate significant growth and 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.”

Mr. Todd Davis, Chief Executive Officer and Chairman of Endexx, stated, “After a multi-year pursuit of this prestigious License, Endexx can now bring its science and compliance acumen to the burgeoning global cannabis market.”  Davis added, “This license and venture will provide the foundation to pursue and develop select global cannabis market opportunities.”

According to Arcview Market Research and BDS Analytics, international sales of cannabis in regulated markets are on track to break $40 billion by 2024.

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 0.01% THC. Its products range from oils, capsules, topicals, and pet products, all with the shared purpose of therapeutic and pain relief. The science behind these products involves half a decade of research and experiments in order to perfect the accuracy in dosage and delivery of absorption per each serving. 

Safe Harbor Notice

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
endexx@endexx.com
480-595-6900

FAQ

What is Endexx Corporation's new license about?

Endexx Corporation's subsidiary, Go Green Global Enterprises, has received a 'Retailer (Herb House) License' to operate a medical marijuana dispensary in Jamaica.

Where is Go Green Global's dispensary located?

The dispensary is located in Ocho Rios, Jamaica, at the Taj Mahal Shopping Centre.

What are the growth prospects for Endexx Corporation?

Endexx aims to expand its international presence in the cannabis market, which is expected to surpass $40 billion by 2024.

How does the new license impact Endexx's business?

The license positions Endexx to generate significant growth and revenues in the emerging legal cannabis market in Jamaica.