CAVE CREEK, Ariz. – September 8, 2022 (Investorideas.com Newswire) Endexx Corporation (OTCBB:EDXC), a provider of innovative, plant-based, and sustainable health and skincare products, today announces the acquisition of a controlling interest in Hyla US Holdco Limited, a producer and distributor of organic, plant-based, all-natural, zero-nicotine vape products.
Endexx Acquires Hyla
The acquisition provides two key benefits to Endexx in the near term:
an expanded international distribution network in 10 countries – Dubai, Saudi Arabia, the United Kingdom, the Czech Republic, Slovakia, Germany, France, the Kingdom of Bahrain, Egypt, and Switzerland, which Endexx expects will provide further leverage for sales of its men’s skin care line, Blesswell, as well as its CBD products designed for pain under its CBD Unlimited brand; and a significant increase in Endexx’s consolidated revenues, based on Hyla’s distribution and sales to date of its non-nicotine, vegan vape products.
“This acquisition is an important opportunity for Endexx, as the ability to expand the distribution for our CBD and non-CBD Blesswell men’s skin care products is a significant benefit. We have already achieved substantial success in the U.S. through our retail distribution in Walgreens, Target, and CVS and, as announced yesterday, Amazon. International distribution in Europe and the Middle East, with the potential of future distribution in Latin America and Asia, holds great promise,” commented Endexx CEO Todd Davis.
Hyla currently markets its proprietary non-nicotine, guarana and L-dopa-based vape products in a wide variety of flavors. The Hyla device is the first non-nicotine vape product to be produced in this manner in the United States and provides an unprecedented 4,500 puffs per device. Introduced in October 2021, Hyla’s initial inventory of 140,000 devices was sold out within the first month of availability. The Hyla vape products bear the Underwriters Laboratories global safety certification and is CE approved.
“Because Hyla’s products do not contain any nicotine, and utilize the well-known plant, guarana, and other botanicals, we believe that Hyla’s products may create a brand new vape market in the United States that avoids the issues associated with nicotine-based products,” continued Mr. Davis. “We look forward to providing product and distribution updates in the near future.”
For additional information regarding the Hyla control acquisition, please refer to Endexx’s Current Report on Form 8-K, which was filed with the United States Securities and Exchange Commission yesterday.
About Endexx Corporation
Endexx Corporation develops and distributes all natural, plant-derived topical skincare products. Its products vary from balms, creams, lotions, butters, masks, scrubs, and oils, all with the shared purpose of healthy skin and grooming wellness. The science behind these products involves a decade of clinical research in the field and lab work to provide functional formulation with ingredients for optimal absorption and support of skin health.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
We caution that any forward-looking statements (as such term is defined in the U.S. Private Securities Litigation Reform Act of 1995) contained in this press release or made by us, our management, or our spokespeople involve risks and uncertainties and are subject to change based on various factors, many of which are beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Forward-looking statements include, without limitation, statements regarding our future operating results, the implementation and impact of our strategic plans, and our ability to meet environmental, social, and governance goals. Words such as “estimate,” “commit,” “target,” “goal,” “project,” “plan,” “believe,” “seek,” “strive,” “expect,” “anticipate,” “intend,” “potential” and any similar expressions may identify forward-looking statements. Risks associated with the following factors, among others, could affect our financial performance and cause actual results to differ materially from those expressed or implied in any forward-looking statements:
Except as may be required by law, we assume no obligation and do not intend to make publicly available any update or other revisions to any of the forward-looking statements contained in this press release to reflect circumstances existing after the date of this press release or to reflect the occurrence of future events, even if experience or future events make it clear that any expected results expressed or implied by those forward-looking statements will not be realized. More information on potential factors that could affect our results is included “Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2022.
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