Hyla Opens New Market in Egypt

Rhea-AI Summary

Endexx Corporation (OTC:EDXC) announced a significant distribution agreement to sell its HYLA products in Egypt, valued over $1,000,000 USD for the next year, starting with a $200,000 USD initial order. The Egyptian market is experiencing a 15% annual growth in vape products, reflecting a growing demand for non-nicotine alternatives, as 24% of the population uses tobacco. CEO Todd Davis highlighted the brand’s successful expansion into international markets. The agreement aligns with the company’s mission of providing sustainable health and skincare solutions.

Positive

• Secured a distribution agreement in Egypt worth over $1,000,000 USD for 12 months.
• Initial order of $200,000 USD indicates strong market interest.
• Egyptian vape market growing at 15% annually, presenting a significant opportunity.
• HYLA products anticipated to fill a demand for non-nicotine alternatives.

Negative

• None.

Egyptian Market Growing 15% Annually

CAVE CREEK, AZ, March 15, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire – Endexx Corporation (OTC:EDXC), a provider of innovative, plant-based, and sustainable health and skincare products, announced today that its HYLA team secured a distribution agreement and purchase order contract to sell in Egypt.  The contract exceeds $1,000,000 USD for the next 12 months, with an opening order at $200,000 USD.

According to market statistics sourced on Statista, 24% of the population in Egypt smoke a variety of tobacco products. Vape products are growing at an annual rate of 15% with over $370 million in e-cigarettes revenues in 2022. Hyla products are anticipated to be a well-received product in this market offering an alternative to nicotine-based products.

CEO of Endexx Todd Davis stated, “HYLA continues to rapidly expand in multiple international markets as demand for non-nicotine vape alternatives by Hyla continue to fill a major demand void and vacuum in the market.” Davis added, “Better Products, Better You”, Endexx continues to provide the best products that fit our motto for the past 10 years, and HYLA products are proving to exceed expectations.”

Visit: www.TryHyla.com

0% Nicotine. 100% Plant Powered

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

“Better Products, Better You”©

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

FAQ

What is the significance of Endexx's distribution agreement in Egypt?

Endexx's distribution agreement in Egypt is valued at over $1,000,000 USD, enhancing its market presence in a growing region.

How much is the initial order for Endexx's HYLA products in Egypt?

The initial order for HYLA products in Egypt is $200,000 USD.

What is the growth rate of the vape market in Egypt?

The vape market in Egypt is growing at an annual rate of 15%.

What percentage of the Egyptian population smokes tobacco products?

Approximately 24% of the Egyptian population smokes various tobacco products.

What is the main product focus of Endexx Corporation?

Endexx Corporation focuses on innovative, plant-based, and sustainable health and skincare products.