Establishes hub in Jamaica to export internationally its proprietary CBD product line and Autospense technology
Endexx Corporation, a provider of innovative phytonutrient-based food and nutritional products, has completed its acquisition of Go Green Global Enterprises Inc. to secure an international distribution hub in Jamaica for its entire array of cannabidiol (CBD)-based products to key markets, among which are Canada, Europe, South and Central America and the Caribbean.
By having a company based in Jamaica, Endexx can legally export its CBD products and Innovative Autospense products internationally, possibly increasing substantially its revenue and earnings.
Endexx is pursuing multiple licenses in Jamaica to establish a vertical market to grow, process, transport, dispense, sell and export its entire array of products, both current and future.
The company's CBD Unlimited line of cannabidiol (CBD) Cannsummable Portfolio products includes its formulated topical CBD balm and mist, travel sleep aid, teas, oils, capsules, soft chews for dogs and cats, and other products that provide key benefits to users.
Endexx can now legally export its CBD products and Innovative Autospense products internationally, which is expected to substantially increase revenue and earnings.
The acquisition is expected to substantially drive the company's growth strategy as it also establishes a new market for Endexx's Autospense technology, an industrial-grade automated asset protection and dispensing solution aimed at the retail and pharmacy markets.
Todd Davis, Chief Executive Officer of Endexx, said: "During the past several months, we have secured key relationships and business partners in Jamaica to ensure our success with operations, compliance, and governmental affairs, education and medical resourcing and exportation procedures."
"As a result, we have formed strong alliances within the country that afford us the opportunity to quickly scale up all aspects of the business for our product and product lines so we can begin exporting our products internationally."
"Given the significant demand and sizeable market opportunity for our products globally, we expect to significantly ramp revenue and earnings in the coming quarters."
According to Forbes, cannabis sales internationally currently exceed $10 billion and are projected to reach $31.5 billion by 2021.
A separate report published by Energias Market Research, cited that the global medical cannabis market is expected to grow significantly from $8.28 billion in 2017 to $28.07 billion in 2024 at a CAGR of 19.1% from 2018 to 2024.