CAVE CREEK, AZ, Oct. 17, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CBD Unlimited, Inc., (OTC: EDXC) formerly known as Endexx Corporation (EDXC), a provider of innovative phytonutrient-based food and nutritional products, announced today an advancement of the company’s growth strategy, as the company secured a stage one $2 million financing program.
CBD Unlimited’s three-pronged approach has made headway to its financial targets as a critical piece was completed in its short-term, mid-term, and long-term goals. The past year has provided CBD Unlimited, along with other companies in the Hemp industry, extended opportunities and increased demand with the legalization of hemp-derived products.
The Company’s completion of this $2 million will be used for short-term manufacturing and fulfillment requirements. CBD Unlimited has activated multiple mass retail locations, surpassing its year-end goal of more than 5,000 stores, four months in advance of its forecasted year-end target. The Company plans to use these funds for inventory production and marketing, while expanding store count nationwide.
“This announcement represents a significant milestone for CBD Unlimited, as “Family Offices” and small institutional investors recognize the value of early investments in this booming CBD industry. The money secures continued growth and its goal of establishing vital retail space in key storefronts nationally,” commented Todd Davis, CEO & Chairman of CBD Unlimited. “We recently surpassed 5,000 stores and the demand has never been higher. Hitting these types of financial targets is what drives the Company forward as we continue to achieve tangible results.”
Since the passing of the 2018 Farm Bill, the growing demand for industrial hemp-derived products has opened the flood gates for the CBD and Hemp industry. According to Brightfield, consumer sales of U.S. CBD products are expected to reach $23.7 billion by 2023, demonstrating the accelerating and inevitable growth of this niche market space. The SAFE Banking Act will support business advancement with more concrete and secure financing services to operate effectively and allow for transparent financial reporting.
About CBD Unlimited, Inc.
CBD Unlimited. Inc. develops and distributes all-natural products from the cannabis sativa-L plant (Hemp) with less than 0.01% THC(legal limit is 0.3%). Its products range from topicals, capsules, oil tinctures, and pet products, to consumables like tea, coffee and health drinks, all with the shared purpose of achieving high therapeutic value and improved quality of life. The science behind these products involves half a decade of research and experiments in order to perfect the accuracy in dosage per each serving and targeted-delivery systems.
In order to provide conformity with federal and state mandates, the company has incorporated the “Gorilla-Tek” platform into their business practices. The Gorilla-Tek platform is the first standardized hardware agnostic and software solution that secures and tracks high-risk, high-shrink, regulated and restricted products maintained under federal/state/local compliance regulations. The platform provides asset protection, inventory management, compliance and an “end of sale” technology integration. Along with that, Gorilla-Tek is tremendously efficient as it provides up-to-the-minute accounting and product details. Gorilla-Tek increases CBD Unlimited Inc.’s productivity, while reducing costs for retailers and improving efficiency in time for an improved customer experience.
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 Securities and Exchange Commission. The company undertakes no obligation to update any forward-looking statements.
Contact:
For further investor and media information, contact:
CBD Unlimited, Inc.
Todd Davis
Chairman & CEO
Todd@cbdunlimited.com
480-595-6900
