Endexx Corporation (OTC:EDXC) Stock Surges 40%: Here is Why

On Tuesday, a large number of companies were in the news cycle for one reason or another, but it is imperative for investors to know which companies to track the next day. One of the companies that could be worth tracking this morning is Endexx Corporation (OTC:EDXC). The company hit the news cycle yesterday after it announced that it had been successful in signing a path-breaking distribution agreement that signified a key milestone in its quest for market expansion in the United States.

The company, which is on the verge of rebranding as HYLA, announced yesterday that it had reached an agreement with regards to a major sale to a premier distributor based out of Houston, Texas, for the amount of $348,812.50. The company noted in the press release that the major milestone was a demonstration of the rising demand for its leading wellness products.

The sale also strengthened the company’s own forecast of using the partnership in question to bring about a major escalation in revenues. Due to the confidentiality agreements in place, the company could not reveal the name of the distributor. However, Endexx Corporation did state that the association was expected to lead to considerable mutual benefits and prosperity for both.

Endexx Corporation stated that HYLA boasted a range of proprietary vape products that were changing the face of the standards of the wellness industry. Hence, the company expected the latest distribution deal to lead to further orders on a quarterly basis. Such a state of affairs would also take the company towards its goal of generating millions of dollars in revenues, owing to greater sales momentum and better market adoption.

The Chief Executive Officer of the company, Nick Mehdi, noted that it was a landmark distribution deal that would cement Endexx Corporation’s dominant position in the market.