CAVE CREEK, AZ, Oct. 13, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — Endexx Corporation (EDXC), also known as CBD Unlimited, a provider of innovative phytonutrient-based nutritional and wellness products, is pleased to announce that through its international subsidiary, Go Green Global Enterprises, Inc. (Go Green Global), the Company has received provisional approval for two licenses in Jamaica from the CLA (Cannabis Licensing Authority).
The retail “Herb House License” allows us to fully open our store in Ocho Rios, Jamaica. The store is located at the Taj Mahal Retail Mall directly located where all the Cruise Liners and Tourist ships arrive into port. Foot traffic during tourism season is extraordinary in this location. Typically, the season begins following “hurricane season” which is now. This year, the Covid19 Pandemic has dramatically impacted the tourism industry worldwide, Jamaica is no exception. Anticipation of Tourism and Cruise Liners returning to normal is building. Resumption is expected to begin before year end, and the store is fully prepared to open and meet the demand.
The second license GGG will receive is a “Tier-2” grow license which will allow for marijuana cultivation and distribution within Jamaica. The Company looks to continually increase its international footprint; receiving provisional license approval illustrates that the Company has surpassed significant hurdles, and persevered through these very challenging times in the international market. With this milestone, Go Green Global is positioned to generate significant revenues in the early stages of the legal cannabis market in Jamaica. Long term the company will seek to distribute its products internationally as export laws become established.
According to Marijuana Business Daily, “Jamaica has what it takes to develop a robust medical marijuana economy: license categories for small and large cultivators, regulations that allow a wide breadth of products, no license caps and a reputation as a world cannabis capital.”
“With our Jamaican subsidiary, we have the ability to break into several international markets. Back in 2018, we announced that we were pursuing multiple licenses in Jamaica to establish a vertical market to grow, process, transport, dispense, sell, and export our entire array of products, both current and future,” commented Mr. Todd Davis, Chief Executive Officer and Chairman of CBD Unlimited. “We are pleased to report that this hard work is proving fruitful as we expand our international footprint with this provisional retail and grow licenses. We look forward to an exceptional year of growth in fiscal 2021.”
According to Arcview Market Research and BDS Analytics, international sales of cannabis in regulated markets are on track to break $40 billion by 2024.
Endexx Corporation and its Division CBD Unlimited develops and distributes all-natural products from the cannabis sativa-L plant (hemp) with less than 0.01% THC. Its products range from oils, capsules, topicals, and pet products, all with the shared purpose of therapeutic and pain relief. The science behind these products involves half a decade of research and experiments in order to perfect the accuracy in dosage and delivery of absorption per each serving.
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