CAVE CREEK, Ariz., Nov. 10, 2021 (GLOBE NEWSWIRE) — via InvestorWire — Endexx Corporation (OTC: EDXC) (the “Company”), a provider of innovative hemp-derived CBD (“cannabidiol”) wellness and health products, is pleased to announce that the Ocho Rios Herb House, recently soft-launched by the Company’s Go Green Global subsidiary, anticipates an impending influx of visitors due to the planned opening of Jamaica’s borders.
Jamaica has seen a slow year when it comes to the cruise industry, owing to the global pandemic; however, Jamaica is now geared up to open its borders for the international cruise industry. The Jamaica Port Authority is developing plans to have all cruise ports on the island operating by the end of 2021, as reported by CruiseHive.
Back in August 2021, Endexx Corporation announced the soft launch of its international subsidiary Go Green Global’s “Herb House” in Ocho Rios, Jamaica. The store will carry premium marijuana and other related premium products for consumers. The store is located in the Taj Mahal shopping center in Ocho Rios, one of the area’s famous tourist destinations and an enjoyable shopping venue. The shop is well placed to assist consumers while traveling to tourist attractions like the Ocho Rios waterfalls.
Ocho Rios has already seen a steady stream of ships arriving over the last few weeks and this will only increase. It is the largest port on the island, according to JamaicaObserver, and received about 40% of overall visitors in Jamaica, numbering over 600,000 in 197 calls in 2019. Furthermore, data from the Jamaica Tourist Board show that out of the total 4.3 million visitors in 2019, over 1.5 million were cruise passengers.
If the average customer spends $30, and the Herb House store receives 5% of the foot traffic from 600,000 visitors, that amounts to 30,000 customers per year, bringing in approximately $900,000 in revenue. These are approximations susceptible to change; for example, visitor data is from 2019, so the Company may see a much higher number as global leisure travel resumes.
Endexx Corporation’s Jamaican subsidiary Go Green Global’s tripartite agreements would enable the cultivation, development, and sale of Jamaican ganja (cannabis) worldwide. With European markets opening, thanks to cannabis becoming legalized in more countries, this could make EDXC a worldwide player in the cannabis space. The numbers could easily reach seven figures when the supply chain is fully functional.
About Endexx Corporation
Endexx Corporation, through its operating division CBD Unlimited Inc., develops and distributes all-natural CBD products derived from the cannabis sativa plant (hemp) containing less than 0.01% THC. Under its four major brands, CBD Unlimited, Phyto-Bites, Maggie’s, and BlessWell, the Company’s products range from oils, capsules, topicals, and pet products, all with the shared purpose of therapeutic and pain relief for humans and pets. Phyto-Bites are CBD soft chews for animal use that are formulated to promote health and support the reduction of separation anxiety, pain, and inflammation. The science behind these products involves over half a decade of clinical research in the field and lab work to provide accuracy in dosage and delivery of optimal absorption per serving.
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SOURCE: Endexx Corporation