CAVE CREEK, AZ, Oct. 19, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire ‒ Endexx® Corporation (OTC: EDXC) (the “Company”), a lifestyle company focused on the intersection of science, compliance, and formulation of innovative phytonutrient-based food and nutritional products, today announced its subsidiary, CBD Unlimited™, Inc., has entered into a Joint Venture arrangement.
CBD Unlimited owns 70 percent of the Joint Venture entity and will appoint three of its five directors. CBD Unlimited will also serve as the Manager of the Joint Venture and will conduct the Joint Venture’s Business of sourcing, producing, manufacturing, marketing, distributing, and selling various Branded Products and related activities. The Joint Venture entity has also entered into a five-year Endorsement and License Agreement with a World Class Celebrity Entity.
Endexx will provide the Joint Venture entity the initial funding for the initial payments under the Endorsement and License Agreement and CBD Unlimited, Inc. is obligated to provide such funding through the Joint Venture entity. Details of the Joint Venture entity, its brand name, product category, and the celebrity endorsement will be released following the completion of various basic requisites and the new brand is ready to be released and rolled out to the market.
About Endexx
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 over half a decade of research and experiments in order to perfect the accuracy in dosage and delivery of absorption per each serving.
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 Securities and Exchange Commission. The company undertakes no obligation to update any forward-looking statements.
Contact:
For further investor and media information, please contact:
Endexx Corporation
Todd Davis
Chairman & CEO
investorrelations@cbdunlimited.com
480-595-6900