Jamaican Cannabis Ready for World Export Via Endexx

Rhea-AI Summary

Endexx Corporation (EDXC) announces a potential increase in visitors to its Ocho Rios Herb House following Jamaica's reopening to international cruise traffic. The cruise industry, significantly impacted by the pandemic, is expected to recover with the Jamaica Port Authority's plans for all cruise ports to operate by the end of 2021. The Herb House, which offers premium marijuana products, could attract approximately 30,000 customers annually based on 2019 visitor data, with potential revenues reaching $900,000. Further expansion into European markets is anticipated, positioning EDXC as a global cannabis player.

Positive

• Expected increase in customer traffic due to Jamaica's reopening to cruise tourism.
• Potential annual revenue from Herb House estimated at $900,000.
• Future expansion opportunities into European cannabis markets.

Negative

• None.

CAVE CREEK, Ariz., Nov. 10, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- Endexx Corporation (OTC: EDXC) (the “Company”), a provider of innovative hemp-derived CBD (“cannabidiol”) wellness and health products, is pleased to announce that the Ocho Rios Herb House, recently soft-launched by the Company’s Go Green Global subsidiary, anticipates an impending influx of visitors due to the planned opening of Jamaica’s borders.

Jamaica has seen a slow year when it comes to the cruise industry, owing to the global pandemic; however, Jamaica is now geared up to open its borders for the international cruise industry. The Jamaica Port Authority is developing plans to have all cruise ports on the island operating by the end of 2021, as reported by CruiseHive.

Back in August 2021, Endexx Corporation announced the soft launch of its international subsidiary Go Green Global’s “Herb House” in Ocho Rios, Jamaica. The store will carry premium marijuana and other related premium products for consumers. The store is located in the Taj Mahal shopping center in Ocho Rios, one of the area’s famous tourist destinations and an enjoyable shopping venue. The shop is well placed to assist consumers while traveling to tourist attractions like the Ocho Rios waterfalls.

Ocho Rios has already seen a steady stream of ships arriving over the last few weeks and this will only increase. It is the largest port on the island, according to JamaicaObserver, and received about 40% of overall visitors in Jamaica, numbering over 600,000 in 197 calls in 2019. Furthermore, data from the Jamaica Tourist Board show that out of the total 4.3 million visitors in 2019, over 1.5 million were cruise passengers.

If the average customer spends $30, and the Herb House store receives 5% of the foot traffic from 600,000 visitors, that amounts to 30,000 customers per year, bringing in approximately $900,000 in revenue. These are approximations susceptible to change; for example, visitor data is from 2019, so the Company may see a much higher number as global leisure travel resumes.

Endexx Corporation’s Jamaican subsidiary Go Green Global’s tripartite agreements would enable the cultivation, development, and sale of Jamaican ganja (cannabis) worldwide. With European markets opening, thanks to cannabis becoming legalized in more countries, this could make EDXC a worldwide player in the cannabis space. The numbers could easily reach seven figures when the supply chain is fully functional.

About Endexx Corporation 
Endexx Corporation, through its operating division CBD Unlimited Inc., develops and distributes all-natural CBD products derived from the cannabis sativa plant (hemp) containing less than 0.01% THC. Under its four major brands, CBD Unlimited, Phyto-Bites, Maggie’s, and BlessWell, the Company’s products range from oils, capsules, topicals, and pet products, all with the shared purpose of therapeutic and pain relief for humans and pets. Phyto-Bites are CBD soft chews for animal use that are formulated to promote health and support the reduction of separation anxiety, pain, and inflammation. The science behind these products involves over half a decade of clinical research in the field and lab work to provide accuracy in dosage and delivery of optimal absorption per serving.

For more information:

Endexx.com
Blesswell.co
CBDunlimited.com

Safe Harbor Statement:
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.

Source:
Endexx Corporation

Todd Davis 

Email: endexx@endexx.com

Telephone: 480-595-6900

SOURCE: Endexx Corporation

Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

Attachment

• Go Green Global's Herb House in the Taj Mahal Shopping Center, Ocho Rios, Jamaica

FAQ

What is Endexx Corporation's latest announcement regarding Ocho Rios Herb House?

Endexx Corporation announced an anticipated influx of visitors to its Ocho Rios Herb House due to Jamaica's reopening for international cruise traffic.

How many customers is EDXC expecting at the Herb House in Ocho Rios?

Endexx expects approximately 30,000 customers annually at the Herb House based on visitor data.

What is the projected revenue for the Herb House in Ocho Rios?

The projected revenue for the Herb House is estimated at around $900,000 per year.

How does Endexx Corporation plan to expand in the cannabis market?

Endexx plans to expand by cultivating, developing, and selling Jamaican cannabis in European markets.

What impact has the pandemic had on Jamaica's cruise industry?

The pandemic significantly impacted Jamaica's cruise industry, but recovery is underway with the reopening of cruise ports.