CAVE CREEK, AZ--(NewMediaWire - Mar 6, 2017) - Endexx
Corporation (OTC PINK: EDXC), a provider of innovative phyto-nutrient
based food and nutritional products, today announced that it has
closed on its acquisition of Phyto-Labs LLC.
In late October 2016, Endexx announced that it had entered into
a Memorandum of Understanding (the "MOU") to acquire Phyto-Labs,
LLC., the owner of Amrita™, and their proprietary formulas for
flavored CBD beverages. Endexx markets and distributes a unique
line of CBD products including oils, tinctures, isolates, capsules
and pet products, through its online presence and a national
distribution and food broker network under the CBD Unlimited brand.
With the acquisition of Phyto-Labs, Endexx will be able to further
develop proprietary formulas for flavored CBD beverages which is
projected to distribute 32,000 bottles per month in 2017/2018.
"The acquisition of Phyto-Labs creates a vertical integration
that strategically allows us to increase our margins and strength
our position as the leader in the CBD products industry. This is a
synergistic opportunity that will complement our already existing
product offerings and allow us to manufacture and generate sales at
a much greater capacity. We have already seen a significant
increase of in the first calendar quarter as compared to last
quarter and we expect to continue riding this momentum, while
accommodating the high demand for our products. The acquisition
also secures a leading role as a national supplier of isolate
additives. The supply chain is now secure."
About Endexx
Endexx provides innovative inventory management and technology
solutions. Endexx, with its collaborative partners and consultants,
develops and distributes two consumable product lines derived from
industrial hemp, which is organic and naturally rich in
phytocannabinoids. Phyto-Bites®, is its CBD-infused soft chews for
dogs. The dog treats are formulated to promote health and support
the reduction of separation anxiety, pain and
inflammation. The company also has two technology products and
services that launched in 2014 -- the M3hub and the Autospense™.
Both products provide essential solutions to promote regulatory
compliance and full accountability through "seed to sale" inventory
management and an "End of Sale" technology integration. Based on
principles developed by the pharmacological industry, the m3hub
platform is the first standardized software solution for tracking
pharmaceutical grade marijuana that maintains compliance with
federal, state and local regulations. It is intended to provide a
smooth transition to eventual federal mandates. The Autospense™ is
a commercial grade inventory control and dispensing device that
provides up-to-the-minute accounting details and ensures both
product and patient security. By automating the dispensing process,
Autospense™ increases productivity and reduces costs for marijuana
retailers, while enhancing their service quality by reducing
transaction time for customers. Websites include: www.cbdunlimited.com, www.endexx.com, www.m3hub.com.
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 Security and
Exchange Commission. The Company undertakes no obligation to update
any forward-looking statements.