CAVE CREEK, AZ, Nov. 07, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CBD Unlimited, Inc., formerly known as Endexx Corporation (EDXC, Financial), is a provider of innovative phytonutrient-based food and nutritional products. The Company provides commentary on the recently released final draft for hemp manufacturing by The U.S. Department of Agriculture (USDA).
Last week, The United States Department of Agriculture (USDA) published its interim final rule for the regulatory framework for the production services of hemp. The Rule provides requirements that should be clear across the industry for all retailers, hemp producers, and federal regulators as it relates to economic, social, and political inquiries.
The proposal recommends states in America, as well as Indian Tribes, submit federal and regulatory plans in their specific territory for hemp production services. Reasons for this come from the recent rapid growth and high demand for CBD, leading to an increase in hemp production as well as the increase in hemp prices. The USDA’s interim draft mentions that “High prices for hemp, driven primarily by demand for use in producing CBD, relative to other crops, have driven increases in planting. Producer interest in hemp production is largely driven by the potential for high returns from sales of hemp flowers to be processed into CBD oil.”
“We are pleased to see the USDA working diligently to guide participants in the hemp industry,” commented Todd Davis, Chief Executive Officer and Chairman of CBD Unlimited. “These guidelines will help our community come together with a sense of certainty. As we look to 2020, demand levels for our products have increased exponentially this year and we expect continued escalation, and expanded distribution both domestically and internationally.”
The draft guidelines also provide minimum requirements of sampling and testing, collecting and sharing information regarding land for production of hemp, as well as procedures to comply with state and federal regulations. Compliance guidelines are essential as the Company continues to comply with all federal, state, and local laws. The Company closely monitors all developments by government agencies and officials.
About CBD Unlimited, Inc.
CBD Unlimited. Inc. develops and distributes all-natural products from the cannabis sativa plant (hemp) with less than 0.01% THC. Its products range from oils, capsules, topicals, and pet products, all with the shared purpose of therapeutic and pain relief. The science behind these products involves half a decade of research and experiments in order to perfect the accuracy in dosage and delivery of absorption per each serving.
In order to provide conformity with federal and state mandates, the company has incorporated the “Gorilla-Tek” platform into its business practices. The Gorilla-Tek platform is the first standardized hardware agnostic and software solution that tracks high-risk, high-shrink regulated and restricted products maintained under federal/state/local compliance. 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 costs in time for customers.
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.
