|By Marketwired .||
|January 9, 2014 12:31 PM EST||
CAVE CREEK, AZ -- (Marketwired) -- 01/09/14 -- Endexx Corporation (OTC Pink: EDXC) to track and support through its M3 technology services up to 1.3 million pounds of Medical Marijuana annually for CEN Biotech, a division of Creative Edge Nutrition, Inc.(OTC Pink: FITX). Health Canada enacted in December 2013 new regulations for the production and distribution of medical marijuana for the Canadian market under the "Marihuana for Medical Purposes Regulations" (MMPR), setting the rules for licensed commercial producers to grow, process and distribute marijuana products directly to marijuana patients and medical providers.
MMRP outlines tracking, recording and reporting requirements, in relation to transactions, client registration, security, production and inventory that licensed producers need to meet for compliance.
M3Hub Seed to Sale Tracking platform is ready to enter the Canadian medical Marijuana market through a contractual agreement entered between Endexx and CEN Biotech, a division of Creative Edge Nutrition (OTC Pink: FITX) last November. CEN Biotech is expected to receive license to grow, and be able to export, up to 1.3M lbs. of marijuana products annually on a ten acre facility in Canada as of April 1, 2014.
Bill Chaaban, President & CEO of CEN Biotech, stated, "After canvassing the market of seed to sale software, we determined that the M3Hub Seed to Sale Tracking platform meets and exceeds the requirements as demanded by our facility and the governing regulatory authorities. These conclusions were made after carefully reviewing the screen shots and live demo of the software."
The M3Hub Seed to Sale Tracking platform meets and exceeds Health Canada's compliance thresholds:
M3Hub creates a web of traceable connections between all the critical touch points in the supply chain processes, tracking all activity from the origin of the seed to germination, cloning, nutrients, pesticide, fungicide, soil management, space conditioning, plant rotation, bud tending, "scrogging," harvesting, drying, processing, packaging, shipping, receiving, and sale to the end user/patient.
M3Hub also integrates security monitoring, personnel ID verification, RFID and barcode technology. The features provide a level of compliance that exceeds government level requirements. The touch points are varied and complex and the M3Hub platform offers the quickest path for licensed producers to efficiency and compliance and gives them the tools to optimize quality control, yield, growth cycles, strain management, processing, packaging and client management.
The M3Hub supply chain management system is integrated seamlessly between growers, processors and retailers. As applied to the Seed to Sale cycle, M3Hub has been shown to increase overall process efficiencies and productivity by up to 40% through accelerated crop cycles, reduced labor costs, improved product quality, inventory control, process management, improved customer experience and regulatory compliance.
M3Hub system components have been utilized in the trucking and shipping industries, agriculture grow operations, pharmaceuticals, CRM and POS applications for the past 10 years. The systems have been customized to uniquely provide the controls necessary to manage all medical marijuana processes and features down to their smallest components and derivatives.
A variable set of applications provides a complete set of services for each type of operation along the supply chain and each can be customized to the specific needs of growers, processors and vendors. These applications include:
- User Account Management
- Business Definition
- Inventory Management
- Sales Management
- Shipping/Transfer Tracking
- Data Tracking
- Customized Automation
- Regional Data Management
- Point of Sale or Final Transaction Assistance
M3Hub plans to expand its collaboration efforts with producers in new legalized markets both in the US and internationally and develop Seed to Sale management solutions that are market specific, adaptable for international trade, scalable, secure and compliant and will ultimately provide standardization for the Cannabusiness Industry.
Endexx Corporation is a micro-cap publicly traded company, representing the interest of its shareholders and collaborating with independent software developers, scientists, engineers, and other companies to build businesses that can thrive collectively in the equity markets. Endexx's team recognizes that individually small companies with new technologies have an extremely difficult time sustaining themselves as stand-alone companies. Through our collaborative practices, individual and group skill sets are better utilized to develop technology and grow the business, while centralizing costs and eliminating redundancies.
The Endexx management team and its advisory group each have at minimum 10-50 years of experience in their respective fields. The business professionals associated with the direction of the company all have experience growing businesses, developing and implementing new technologies and running publicly traded corporations.
Endexx Corporation is ultimately structured to provide a platform for entrepreneurs to thrive, offering maximum return on investment through equity ownership in the parent corporation. Each individual is a shareholder and is encouraged and self-driven to be successful and contribute to the overall objective of increasing shareholder value.
Contact Endexx via email to receive corporate news and updates at [email protected].
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 Security and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
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