Endexx Corporation (OTC:EDXC), a provider of innovative phyto-nutrient based food and nutritional products, today announced that it has closed on its acquisition of Phyto-Labs LLC.
In late October 2016, Endexx announced that it had entered into a Memorandum of Understanding (the "MOU") to acquire Phyto-Labs, LLC., the owner of Amrita™, and their proprietary formulas for flavored CBD beverages. Endexx markets and distributes a unique line of CBD products including oils, tinctures, isolates, capsules and pet products, through its online presence and a national distribution and food broker network under the CBD Unlimited brand. With the acquisition of Phyto-Labs, Endexx will be able to further develop proprietary formulas for flavored CBD beverages which is projected to distribute 32,000 bottles per month in 2017/2018.
"The acquisition of Phyto-Labs creates a vertical integration that strategically allows us to increase our margins and strength our position as the leader in the CBD products industry. This is a synergistic opportunity that will complement our already existing product offerings and allow us to manufacture and generate sales at a much greater capacity. We have already seen a significant increase of in the first calendar quarter as compared to last quarter and we expect to continue riding this momentum, while accommodating the high demand for our products. The acquisition also secures a leading role as a national supplier of isolate additives. The supply chain is now secure."
About Endexx Endexx provides innovative inventory 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. 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 "seed to sale" 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 for tracking pharmaceutical grade marijuana 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 marijuana retailers, while enhancing their service quality by reducing transaction time for customers.