Possible Cannabis Reform Heats Up
NEW YORK, October 26, 2016 /PRNewswire/ --
http://www.Financialbuzz.com - This election is shaping up to be a possible turning point for the future of cannabis legislation in the United States. Reforms on cannabis legalization are on the ballot in nine states this year. The states where recreational marijuana is on the ballot are California, Arizona, Nevada, Maine and Massachusetts, while North Dakota, Arkansas, Montana and Florida are considering medical marijuana. ChineseInvestors.com Inc. (OTC: CIIX), Medicine Man Technologies, Inc. (OTCQB: MDCL), Cara Therapeutics Inc. (NASDAQ: CARA), Terra Tech Corp. (OTC: TRTC), United Cannabis Corp. (OTCQB: CNAB)
These states may influence the politics of other states, as all the nine states constitute approximately a quarter of the entire population of the country and polls show that the movement advocating for cannabis legalization has gathered enough momentum over the years to finally influence political decisions. According to recent polls, about 57 percent of adults say cannabis should be legal.
As a result it is not surprising that companies who have invested in cannabis companies are now in a better position to benefit from the new political climate. A key potential catalyst for ChineseInvestors.com Inc. (OTCQB: CIIX) for example, was the strategic investment into a recent public listing of Medicine Man Technologies, Inc. (OTCQB: MDCL), a cannabis branding and consulting company that boasts 24 clients and a market capitalization of $17.8mn as of October 10, 2016.
ChineseInvestors.com Inc. specializes in providing real-time market commentary and analysis in the Chinese language. The Company offers subscription services to provide education about investing and news. The Company's service offerings permit users to subscribe to several of its service packages. Earlier this August, the company announced that their live streaming service has helped the company book record subscription revenues the month before.
Other cannabis companies are also gaining in popularity. Cara Therapeutics Inc. (NASDAQ: CARA) possesses both near-term clinical development opportunities, united with proprietary approaches to developing innovative novel therapeutics. Cara's most advanced patented compound, CR845, is now undergoing clinical testing for acute pain and pruritus. This compound possesses analgesic, anti-inflammatory and anti-pruritic activities appropriate for multiple therapeutic applications. The company's ambitions are to develop a future pipeline of first-in-class molecules at novel analgesic and anti-inflammatory targets using its proprietary drug screening technology.
Integrated cannabis-focused agriculture company, Terra Tech Corp. (OTCQX: TRTC) announced the Grand Opening of its Blüm retail dispensary, located in Nevada. This marks the company's third retail location in Nevada and follows the opening of the Western Las Vegas Dispensary in April, 2016 and the South Decatur Boulevard Las Vegas Dispensary in August, 2016. The Company also operates a Blüm dispensary in Oakland, California.
United Cannabis Corp. (OTCQB: CNAB) will begin processing industrial hemp to excerpt cannabinoids, terpenes, along with other compounds for the use in its products. Hemp is a Cannabis Sativa and the 2014 U.S. Farm Bill distinguishes industrial hemp, defining it as "a plant of the genus cannabis and any part of the plant, whether growing or not, containing a delta-9 tetrahydrocannabinol concentration of no more than three-tenths of one percent on a dry weight basis."
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