Endexx Subsidiary CBD Unlimited, Inc. Enters into a Joint Venture Operating Agreement
CBD Unlimited, Inc.
Mon, October 19, 2020, 5:30 AM PDT
CAVE CREEK, AZ, Oct. 19, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire ? Endexx® Corporation (OTC: EDXC) (the “Company”), a lifestyle company focused on the intersection of science, compliance, and formulation of innovative phytonutrient-based food and nutritional products, today announced its subsidiary, CBD Unlimited™, Inc., has entered into a Joint Venture arrangement.
CBD Unlimited owns 70 percent of the Joint Venture entity and will appoint three of its five directors. CBD Unlimited will also serve as the Manager of the Joint Venture and will conduct the Joint Venture’s Business of sourcing, producing, manufacturing, marketing, distributing, and selling various Branded Products and related activities. The Joint Venture entity has also entered into a five-year Endorsement and License Agreement with a World Class Celebrity Entity.
Endexx will provide the Joint Venture entity the initial funding for the initial payments under the Endorsement and License Agreement and CBD Unlimited, Inc. is obligated to provide such funding through the Joint Venture entity. Details of the Joint Venture entity, its brand name, product category, and the celebrity endorsement will be released following the completion of various basic requisites and the new brand is ready to be released and rolled out to the market.
