Endexx Corporation (OTCMKTS:EDXC) has announced that its international subsidiary has been granted a license to sell cannabis in Jamaica.
The company said the Jamaican government’s Cannabis Licensing Authority issued the license to its subsidiary Go Green Global Enterprises Inc in conjunction with Go Green Global Limited, a Jamaican corporation.
Endexx said the “Retailer (Herb House) License” now allows Go Green Global to handle cannabis, in keeping with regulations established in 2016. A “Herb House” is the equivalent of a medical marijuana dispensary” in the US.
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The company said preparations for the dispensary's grand opening are underway at the Taj Mahal Shopping Centre in Ocho Rios. The mall is located where all the cruise liners and tourist ships arrive into port and is centrally located in Ocho Rios, providing access to the local community.
Endexx said it is looking continually to increase its international footprint. Receiving the license approval illustrates that Go Green Global is positioned to generate significant growth and revenues in the early stages of the legal cannabis market in Jamaica.
Long term, the company said it will seek to distribute its products internationally as export laws become established and Jamaica develops a robust medical marijuana economy.
“After a multi-year pursuit of this prestigious license, Endexx can now bring its science and compliance acumen to the burgeoning global cannabis market,” said Endexx CEO Todd Davis in a statement. “This license and venture will provide the foundation to pursue and develop select global cannabis market opportunities.”
According to Arcview Market Research and BDS Analytics, international sales of cannabis in regulated markets are on track to break $40 billion by 2024, the company noted.
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