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Endexx Provides Insight on Possible New Federal Cannabis Regulations
Reclassification Under the Controlled Substances Act (CSA) Offers a New Pathway for Institutions and US Investment Banking to Participate in the Cannabis Industry
CAVE CREEK, AZ - (NewMediaWire) - September 12, 2023 - Endexx® Corporation (OTCQB: EDXC), a provider of innovative plant-based wellness and nutritional products, today announced insight on potential benefits of the new statements made concerning reclassification of Marijuana/Cannabis. Statements recently provided by the FDA and HHS to the DEA indicate a new policy stance at the Federal level versus the political theatre. A policy shift at the federal level provides a pathway forward for Research Institutions and US investment banking to finally participate in the cannabis industry.
"On August 29, 2023, the United States Department of Health and Human Services (HHS) recommended that the United States Drug Enforcement Administration (DEA) ease government restrictions on marijuana. The HHS has recommended marijuana be rescheduled under the CSA from a Schedule I controlled substance to Schedule III controlled substance, following an extensive review by the United States Food and Drug Administration (FDA).”
Ultimately, the DEA has final authority with respect to rescheduling and will consider factors such as the history of abuse (e.g., scope, duration, patterns, etc.), the relative potential for abuse, and the risk to public health. DEA will also consider any scientific evidence (e.g., pharmacological effect, physiological dependence, etc.) regarding marijuana/cannabis.
This marks the first significant policy shift regarding Marijuana/Cannabis by the FDA since Cannabis was made illegal.
Pathway to Potential Benefits for the Cannabis Industry if Reclassified:
● Safer banking and management of cash
● Regulatory compliance simplification
● US Based Public company participation
● US Based Investment Banking and Capital Formation
● US Leadership in International Trade
● Physician Participation with Patients
● Institution and Academic Research
The Farm Bill of 2018 concerning Hemp legalization expires this Fall and must be extended and/or modified. The reclassification of Marijuana/Cannabis under the Controlled Substances Act (CSA) would coincide nicely with any modifications needed with the new Farm Bill to be drafted for 2023. Simply stated, this potential policy and reclassification movement is good for the US economy and will provide thousands of jobs and significant deployment of capital needed to fund research, regulatory compliance and capital formation in the US.
In January 2013, Endexx Corporation became the eighth publicly traded company to venture into the cannabis industry, bringing science and compliance to the industry while aiming to capitalize on the growing market as more states and countries started to legalize the medicinal and recreational use of cannabis. As a pioneer in the hemp and cannabis industries, Endexx has been recognized as an innovator and leader in many aspects of this nascent industry.
www.endexx.com & www.cbdunlimited.com
About Endexx Corporation
Endexx Corporation develops and distributes all natural, plant-derived wellness products and 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. www.endexx.com
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. Hyla is currently being distributed in 10 countries and has signed distribution agreements with an additional nine countries. www.tryhyla.com
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This presentation 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. 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.
No Offer or Solicitation. This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and, where applicable, the requirements under the securities laws of any other applicable jurisdiction.
For further information, please contact:
Endexx Corporation
IR@Endexx.com
480-595-6900
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