Legal Cannabis Market Gaining Traction
NEW YORK, March 8, 2017 /PRNewswire/ --
The global medical marijuana market is expected to reach a value of USD 55.8 billion by 2025, according to a new report by Grand View Research, Inc., the report indicates that together with Washington D.C. 28 states have legalized marijuana for medical uses. In 2016, states such as Arkansas, Florida, North Dakota, Ohio, and Pennsylvania were approved to use the drug in medical applications such as chemotherapies and pain management. The growing number of states and countries getting approval for using it in therapeutic applications is one of the crucial factors driving the demand over the coming few years. In addition, successful legalization for recreational use in states like California. ChineseInvestors.com (OTC: CIIX), Cannabis Sativa Inc. (OTC: CBDS), Eco Science Solutions Inc. (OTC: ESSI), Vitality Biopharma Inc. (OTC: VBIO), CV Sciences Inc. (OTC: CVSI).
Florida by itself is projected to become a major market after voters overwhelmingly chose to legalize medical marijuana with more than 70% of the vote. According to Arcview Market Research, the potential growth of the medical market in Florida is strong. The market is projected to reach $1.6 billion by 2020, growing at a compound annual growth rate of 140%. "The opportunity for good jobs, tax money and wealth creation created by Amendment 2 passing cannot be understated. Savvy entrepreneurs and pioneering investors are rightfully exuberant about the Florida market. And, thankfully, seriously ill patients will no longer need to go to high school parking lots or drug dealers to get their medicine," said Troy Dayton, CEO of The Arcview Group.
ChineseInvestors.com (OTCQB: CIIX) announced earlier in February that, "The launch of its new website for its new subsidiary ChineseCBDoil.com. The website went live on January 31st under the URL: http://www.ChineseCBDoil.com . The Company is expanding into the medical marijuana industry with the launch of its website and plans to retail hemp oil and related products, which are legal to sell and distribute within China and in the United States in all fifty states (hemp oil is not marijuana, but indeed a separate and distinct plant made from hemp). CBD oil, derived from hemp is a product with medicinal qualities that are primarily used for anti-inflammatory and other common ailments. Its website is intended for the Chinese speaking population, a global market of 2 Billion people."
Our expertise in online communications with our background in media, technology, and journalism, via our http://www.Chinesefn.com website will further enhance our success. Our core business, the online distribution of news to the Chinese speaking population about financial markets and stocks has been a very solid and consistently robust business for our shareholders. Now as we expand into online retailing and distribution of CBD oils to the Chinese speaking population with a focus on hemp and medicinal needs via consumer products. This will create a much needed and growing niche for us to enter. Indeed, we believe we are the first public company to enter this market in China." In addition, earlier this week, SeeThruEquity announced it has issued an update note on ChineseInvestors.com, giving the company a price target to $3.75.
Cannabis Sativa Inc. (OTCQB: CBDS) announced that its new Ibudtender app will be ready for beta testing. The app will hold the highest health and safety standards for consumers to date. "The Ibudtender team has been working hard to complete what will be the most sophisticated app in the space", said David Tobias, President of Cannabis Sativa. "The beta test will give the technology a chance to perform, interact with users, get analyzed and perfected, and a final release to follow quickly." Ibudtender is accepting applications from select consumers for this project. Ibudtender is also accepting a limited number of dispensaries, delivery services and manufacturers to test its new state of the art business software.
Eco Science Solutions Inc. (OTCQB: ESSI) owns the application, Herbo. Herbo are growers, users, and beneficiaries of cannabis. The app was made to help users find medical cannabis dispensaries, smoke shops, legal doctors, clinics, and delivery services in specific areas, but also wants to help users ingest cannabis the best possible ways. So they partnered with the largest and best paraphernalia manufacturers and distributors to bring awesome products at great prices.
Vitality Biopharma Inc. (OTCQB: VBIO) announced the company had recreated a library of proprietary glycosides of THC, the main psychoactive chemical found in cannabis or marijuana, which enable targeted delivery that reduces or eliminates psychoactivity when used in oral drug formulations. These compounds are being developed as pharmaceuticals that enable site-specific targeting of the THC in various tissues of the body, where it can exert therapeutic effects for treatment of pain and inflammation. Recently, the company gained DEA approval for its research and development facilities located in California, and it has now completed preclinical pharmacokinetics studies with its proprietary THC glycosides to analyze their bioavailability. The Company has confirmed that large concentrations can be delivered orally without significant transit of THC to the brain, enabling their formulation within pharmaceuticals where drug psychoactivity will be reduced or eliminated.
CV Sciences Inc. (OTCQB: CVSI), focuses on drug development activities on products containing cannabidiol (CBD) as the active pharmaceutical ingredient, and also is engaged in the sale of CBD, and the development, marketing and sale of end consumer products containing CBD, which is refined into its own PlusCBD Oil™ brand, the leading hemp-derived CBD product line in the United States. The company will be exhibiting its PlusCBD Oil™ at Natural Products Expo West in mid-March. As the preeminent leaders in hemp-derived CBD, we believe it is our obligation to create products that retailers can count on," stated Stuart Tomc, VP of Human Nutrition and spokesperson at CV Sciences. "PlusCBD Oil™ has been driving the growth of this newly emerging category due to the consistency, efficacy, and safety profile of our products. We are pleased to report that PlusCBD Oil™ is now available in over 1000 health food stores and counting, and we truly have our retailer partners to thank for joining the CBD Evolution -- many of whom have been with us since our first Expo West two years ago."
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