HYLA Division Strongly Positions Endexx Into Early Fiscal 2023 With More Than $3 Million in Purchase Orders Shipped to 11 Countries

Rhea-AI Summary

Endexx Corporation (OTC:EDXC) has successfully shipped over $3 million of its $6 million in HYLA non-nicotine vape product orders to 11 countries since October 2022. This includes a crucial half of a $3.8 million order that has cleared Italian customs, marking approval in Italy. The company anticipates growing demand for HYLA due to its unique non-nicotine formula and aims to penetrate other markets facing nicotine product regulations. Endexx believes this innovative product will establish itself as a revolutionary alternative in the vape market.

Positive

• Over $3 million of $6 million in purchase orders shipped, indicating strong demand.
• Successful clearance of $3.8 million order in Italy validates product approval.
• Potential for expansion into additional international markets due to regulatory advantages.

Negative

• None.

First Half of Previously Announced Italian Order of HYLA Non-Nicotine Vape Products Has Cleared Italian Customs, Signaling Approval of First-of-its-Kind Vape Product With More Approvals Expected in the Coming Months

CAVE CREEK, Ariz., Jan. 10, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Endexx Corporation (OTC:EDXC), a provider of innovative, plant-based, and sustainable health and skincare products, today announces it has shipped more than $3 million of its recently reported $6 million in HYLA purchase orders since October 2022 to 11 countries worldwide. The remainder of the $6 million in purchase orders is expected to complete shipping by the close of the first calendar quarter of 2023.

Inclusive of these shipped orders is one-half of a $3.8 million Italian purchase order, which has cleared Italian customs. The clearing of customs indicates that HYLA’s one-of-a-kind, non-nicotine vape product has achieved approval for marketing in Italy. This approval sets precedent for other countries where purchase orders had been made to also clear their customs procedures. The Czech Republic, Georgia, Italy, Russia, Slovakia, South Africa, Switzerland, the United Kingdom, United Arab Emirates, as well as the United States, have all been approved for the use of the HYLA device and have been successfully distributed.

“HYLA has represented such a significant benefit to our revenue generation, and we are working closely across the globe to ensure that it becomes available in most markets. We believe that the demand for the HYLA non-nicotine vape product will exponentially increase, as it is unlike anything else currently on the market. We believe HYLA is a potentially attractive alternative in those countries for whom nicotine vape products are unavailable due to regulatory concerns,” commented Todd Davis, CEO of Endexx. “With its unique delivery system and non-addictive, non-nicotine contents, we anticipate that HYLA will lead the way toward becoming a revolutionary alternative among those wishing to experience vaping under more favorable and accepted circumstances.”

About Endexx Corporation

Endexx Corporation develops and distributes all natural, plant-derived topical skincare products. Its 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

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 is the significance of Endexx's recent shipment of HYLA products?

Endexx has shipped over $3 million of its $6 million in HYLA non-nicotine vape products, marking strong international demand.

What does the approval of HYLA in Italy mean for Endexx?

The approval in Italy paves the way for other countries to clear customs, potentially increasing sales and market reach.

How much of the purchase order has been shipped to date?

As of now, more than $3 million of the reported $6 million in purchase orders have been shipped.

What is the future outlook for the HYLA non-nicotine vape product?

Endexx anticipates increasing demand for HYLA as it provides an alternative in markets where nicotine products face regulatory hurdles.