CAVE CREEK, AZ- Endexx Corporation (OTC PINK: EDXC), a provider of innovative phyto-nutrient based food and nutritional products, is pleased to announce today the commencement of its production to deliver 30,000 units of its Cannabidiol (CBD) -infused gourmet tea beverages. Endexx's first product launch Third Eye Chai™, a masala chai tea will be available in pillow brew bags for individual use in multi-packs.
According to Transparency Market Research, "In 2013, the global tea market was worth US$38.84 bn and is projected to reach a valuation of US$47.20 bn by the end of 2020. The market is expected to exhibit a 2.80% CAGR between 2014 and 2020." According to market research firm Packaged Facts, it estimates that by 2020 retail sales of tea in the U.S. will reach almost $9 billion.
Todd Davis, CEO of Endexx, stated, "Tea drinkers are a large segment of the population and tea sales are in the multi-billions per year. We believe that Third Eye Chai™ will be a nice addition to the CBD Unlimited product selection and beneficial to the consumer. The first batch will be over 150 lbs., and will produce 30 thousand tea bags. We have completed the processing and testing phase. The batch has been prepared and is headed to production, with anticipated completion by early March. The Mad Hatter Coffee & Tea Co., is a brand known for its cannabis-infused tea beverages for the legal Marijuana industry and is a great partner and fit for us. We've already received huge demand for our "Chai Tea CBD"© and the reception has been phenomenal."
In May 2016, Endexx announced a license and distribution agreement with The Mad Hatter Coffee & Tea Co., to deliver Cannabidiol (CBD) rich beverages that will be available globally. The Mad Hatter Coffee & Tea Co. has led the niche market of cannabis-infused gourmet organic coffee and tea beverages since 2007, and is a true pioneer in cannabis-infused edible brands with beverage products currently available in 7 legalized states and over 2000 stores in the U.S. The Mad Hatter has been profiled by Newsweek, Time, The New York Times, and other major publications.
Endexx, with its collaborative partners and medical industry consultants, develops and distributes several 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 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 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 retailers, while enhancing their service quality by reducing transaction time for customers. Websites include: www.cbdunlimited.com and 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.