Endexx Corporation (OTC: EDXC) Acquires Controlling Interest In Hyla US Holdco Limited, Producer Of Organic, Plant-Based Zero Nicotine Vape Products; EDXC CEO Says Hyla May Create A Brand New Vape Market In US
In an already $7.4 billion Vape Market growing at a quick CAGR of 27.3% through 2030 in the U.S., Endexx Corporation (OTC: EDXC) has acquired a controlling interest in Hyla US Holdco Limited. Hyla is a producer and distributor of organic, plant-based zero-nicotine based products. Todd Davis, CEO of EDXC, says he believes because Hyla’s products do not contain nicotine the brand “may create a brand new vape market in the United States that avoids the issues associated with nicotine based products.”
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EDXC believes its acquisition on controlling interest in Hyla will expand its international distribution in 10 countries and will mean a “significant increase in the company’s consolidated revenue.
Todd Davis, Endexx CEO, says “Because Hyla’s products do not contain any nicotine, and utilize the well known plant, guarana, and other botanicals, we believe that Hyla’s may create a brand new vape market in the United States that avoids the issues associated with nicotine-based products.”
For additional information on the acquisition, please see Endexx’s recent Form 8-K filing.
The vape market in the U.S. has already been seen by researchers and investors as fast-growing and large. Grand View Research’s recent report shows that e-cigarettes and vaping are headed for a bright future in the US. It says that the industry is already at $7.4 billion in America and growing at a CAGR rate of 27.3% through 2030. As a greater number of US states legalize cannabis and e-cigarettes and vaping goes mainstream, NASDAQ and NYSE publicly listed stocks are being closely watched by investors. Driving factors are innovation, strategic mergers, the success of e-cigarettes and strong popularity with a young demographic.
On a distribution channel basis, vaping is growing through an 84% retail store segment. This means it is selling off of specialty store shelves — expanding through destination-shopping strong growth. Consumer are dedicated buyers.
As a result, consumers can try different flavors, e-cigarette brands and become more regular customers. This is why vaping is growing quickly in the US. Endexx already has a broad retail distribution in 10 foreign countries — including at Harrods department store in the U.K. — plus retail chains such as Walgreen’s, Target and CVS.
Endexx further states that the Hyla proprietary device produces an unprecedented number of 4,500 puffs per device. Its initial inventory in 2021 of 140,000 devices were sold out within the initial months of its availability, Endexx says. It also says the device is CE approved and has UL global safety certification.
Source: Stock Market Press
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