Endexx Corporation (OTC: EDXC), a provider of innovative medical marijuana management and technology solutions, recently established a new division to focus on the growing market for CBD and THC-infused consumables. This week, the company announced a collaboration with Todd Zarlengo, a leading Italian dessert chef and entrepreneur, to develop the components to launch the new division.
Mr. Zarlengo will be responsible for developing the manufacturing, packaging and labeling protocols for successful launch of the new division that will focus on edible delivery systems for medical applications of cannabidiol extracts in the form of CBD-infused “cannsumer” goods. The medical marijuana market is estimated to be approximately $1.5 billion in size and rapidly growing in recent years.
Cannabidiol is a non-psychoactive natural compound that has been shown in scientific and clinical studies to possess beneficial properties in the treatment of a wide range of conditions, including arthritis, diabetes, MS, PTSD, skin cancer, epilepsy and other disorders, according to a company press release. Since it does not give users a “high”, it has also been easier to approve for use.
Over the past 30 days, Alabama, Georgia, Tennessee, Kentucky, Indiana, Wisconsin, Utah and Florida have all introduced or passed bills to legalize the use of CBD in the treatment of epilepsy and other debilitating conditions. A significant amount of this progress was due to the popularity of “Charlotte’s Web”, which is a high-CBD strain of cannabis shown to be effective in treating seizures.
Shares of Endexx are trading up 6.3% during Wednesday’s session and are trading up more than 16% since the beginning of the week.
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