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CAVE CREEK, AZ--(Marketwired - Mar 23, 2016) - Endexx Corporation (
Endexx's CBD Unlimited Division, which launched in late April 2015, is a proprietary e-commerce site that offers phyto-cannabinoids products, which are derived from the whole hemp plant. The Company secured a high quality supply chain of imported industrial hemp based Cannabidiol (CBD) extracts and nutritional products to help develop Phyto-Nutrient© rich solutions for health needs.
Mr. Riley's primary responsibilities are to establish a sales and marketing infrastructure and manage sales growth nationally. In addition, he will be managing customer relationships across multiple channels of trade and collaborating with retailers to design, present and implement Endexx's go to market initiatives. Given his background, Mr. Riley will spearhead the development of sales strategies, identification of new customers, preparation and performance of new item presentations to retailers and perform profitability of deals and ROI analysis which includes post promotional analysis, competitive reporting, forecast business volumes, and the negotiation of master agreements.
Mr. Riley has over 20 years of experience in the food, beverage and nutraceutical industry. He has worked with his family's multi-generational food brokerage company, the Joseph W. Riley Company, which generated annual sales of $500 million. After the sale of the brokerage company, he managed a pet products company, Glamour Kitty Products, growing the business from a single product to multiple line extensions, and from regional to national markets, making it the sixth largest company in its category. In recent years, Mr. Riley has been instrumental in helping consumer products companies launch and succeed in the marketplace through his relationships with retailers and his strong network of resources that has helped propel companies and their brands.
Brendon Riley's states that, "People are looking for healthy alternatives, non- addictive treatments that are safe and legal. This product reaches a large demographic, including athletes, the elderly, prescription dependent people and families. Society is ready for a product like this. Progressive retailers, seeking innovative, unique and different products lines, will need to get behind us to support this product getting to the market. After experiencing and seeing how CBD has benefited my family and friends, I am convinced. To be blunt, people are tired of using heavy drugs in their fight for better health, and that's where I believe Endexx and CBD Unlimited are forging a path in the educated consumer market for natural products."
Todd Davis, CEO of Endexx, stated, "Endexx has now established a successful early stage footprint in the retail space. We have secured our key product and sourcing partners and have positioned the company to scale up to meet the demand of commercial level retail customers. Brendon has already helped develop and drive sales of product lines in all categories Endexx is pursing, including health and wellness, sports nutrition, nutraceuticals, and pet care markets. He leads a network of well-established food and beverage brokers that sell in all major retailers in the US, and will provide critical expertise in leading our commercial sales strategy while going to market with our CBD line of products. Distribution is the key to Endexx's success in this exciting new market, and we believe Brendon provides the necessary skills and network to achieve this objective."
After launching CBD Unlimited, revenues grew at roughly 20% per month through November. In December 2015, the Company initiated a campaign to bring its products into small retail health food, vitamin and wellness stores. By February 2016, Endexx established customer retail stores in approximately 10 states, with more than 50% of the stores acting on repeat orders within the first 30 days. Since launching the program, Endexx has received high product demand and sales have increased 50-100% per month for both retail and wholesale accounts.
Endexx provides innovative medical marijuana 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. The company 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 tracking. 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 an eventual federal mandates. The Autospense™ is a high-tech marijuana 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 retailer, while enhancing their service quality by reducing transaction time for customers. Websites include: www.cbdunlimited.com, www.cbdhealthsolutions.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.
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