NEW YORK, February 28, 2018 /PRNewswire/ --
According to a report by Hexa Research, the U.S. medical cannabis market is projected to reach $19.48 billion by 2024. The anticipated growth is driven by the intensifying acceptance of medical advantages associated with cannabis, particularly
An important and expanding segment of the legal cannabis industry is the CBD market. Forbes reported that according to Matt Karnes of Greenwave Advisors, the CBD market is expected to reach the $3 billion mark by 2021. Currently, 15 states that allow CBD only - this is in addition to the 28 states plus DC that have legalized medical cannabis. A report by Research and Markets explains that one of the major drivers for this market is Health benefits of CBD oil. Cannabis-based CBD products have a relatively high content of THC compared with hemp-derived CBD products. As a result, cannabis-based CBD products can be used only when they are prescribed by doctors for medical purposes.
Chineseinvestors.com, Inc. (OTCQB: CIIX) just earlier today announced breaking news that, "the details of the stock dividends related to the upcoming spinoff of all hemp-related assets including its China-based wholly owned foreign enterprise, CBD Biotechnology Co. Ltd. ("CBD Biotech") and its wholly owned United States subsidiaries, ChineseHempOil.com, Inc. ("Chinese Hemp Oil") and Hemp Logic, Inc. ("Hemp Logic").
Last month, the Company's subsidiaries achieved combined sales of over $100,000.00 and are well positioned to continue to achieve substantial growth into 2018 and beyond. CIIX plans to spin off all of its hemp related assets including, but not limited to, CBD Biotech, Chinese Hemp Oil and Hemp Logic into a single private company (the "New Company") with the goal being to bring the New Company into the public market in 12 to 18 months that follow. The New Company will issue one share of stock in the New Company for every four shares of CIIX's common stock held by investors as of the date of the spinoff, May 31, 2018.
According to CIIX's CEO, Warren Wang, "We want to provide our shareholders the opportunity to take advantage of this dividend; therefore, we encourage holders of our preferred stock to convert into common prior to May 31, 2018."
CIIX will continue to oversee the progress of the New Company. CIIX's CEO, Mr. Wang, and its CFO, Paul Dickman will serve on the board of directors of the New Company. CIIX is also currently evaluating potential independent board members for the New Company and individuals to join the management team.
CIIX has enjoyed success in helping to support various startup companies through its advertising and public relation related support services. Many of those startup companies have gone on to achieve strong stock prices. We look forward to the Company's spin off continuing this track record of success. Chinese Hemp Oil, Hemp Logic and CBD Biotech represent the Company's only involvement in the hemp industry, with its hemp-based CBD products; therefore, spinning off these entities will completely remove the parent, CIIX, from its involvement in the hemp industry, leaving the New Company to capitalize on the continuously growing hemp industry and other complimentary ventures.
"This is a great time to spin off CIIX's CBD focused assets as we continue to explore new ways to expand its core financial services business, including its recent move into the cryptocurrency and blockchain technology industry," according to ChineseInvestors.com, Inc.'s CFO Paul Dickman."
Medical Marijuana, Inc. (OTC: MJNA) is the first-ever publicly traded cannabis company in the United States. Recently, the company's subsidiary HempMeds®Mexico celebrates the second anniversary of its historic permits granted by Mexico'sFederal Commission for Protection Against Health Risks, COFEPRIS. These permits opened doors for the development of a new cannabis product market in Mexico and broadened access to cannabidiol (CBD) hemp oil to Mexicans in need. Those first permits, granted in February 2016, allowed for families to import the Company's CBD hemp oil, Real Scientific Hemp Oil™-X (RSHO-X™). This product has no psychoactive ingredients and complies with current national regulations. Since February 2017, COFEPRIS has granted hundreds of permits for importing HempMeds®Mexico's RSHO-X™. HempMeds®Mexico was the first company approved by COFEPRIS to distribute its CBD hemp oil products. These products are available through an import process established by COFEPRIS, which requires a medical prescription and importation approval.
AXIM® Biotechnologies, Inc. (OTCQB: AXIM) focuses on the research, development and production of cannabinoid-based pharmaceutical, nutraceutical and cosmetic products. Our flagship products include CanChew+®a CBD-based controlled release chewing gum, CanChew+ 50®, containing 50 mg of CBD undergoing clinical trials in patients with IBS and MedChew Rx®, a combination CBD/THC gum that will undergo clinical trials for the treatment of pain and spasticity associated with multiple sclerosis. Recently, the company announced the first-ever successful execution of proprietary current good manufacturing practices methods to extract and microencapsulate cannabinoid molecules for a variety of pharmaceutical delivery formats from cGMP-produced medicinal cannabis. The breakthrough makes AXIM the only Company in the world with the ability to harness the proprietary procedure and provide Active Pharmaceutical Ingredients of such purity from naturally extracted cGMP sources. AXIM's new methods are unprecedented in terms of the nature of the process - which utilizes cGMP standards employed from the initial growing of the cannabis plants through extraction and manufacturing - leading to the highest of quality standards for APIs being met.
PotNetwork Holding Inc. (OTC: POTN) is a publicly traded company that acts as a holding company for its subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils, and PotNetwork.com. Recently, the company announced that its wholly owned subsidiary, Diamond CBD, Inc., is exhibiting its 2018 product line which includes many new products available for distribution at the 37thCHAMPS Trade Show at the Las Vegas Convention Center on February 19-21, 2018. Diamond CBD recently unveiled a new product line, Meds BioTech, which provides it with a specialty line to penetrate new market segments. Past Champs Trade Shows have been highly successful events for Diamond CBD generating both valuable publicity and record sales.
Terra Tech Corp. (OTCQX: TRTC) is a vertically integrated cannabis-focused agriculture company. On January 1, 2018, the company announced that it has received State of California Temporary Authorization to distribute and retail cannabis, and expects to receive authorizations to cultivate and manufacture cannabis for California's adult-use and medical markets, effective January 1, 2018. Terra Tech plans to commence adult-use cannabis sales to the California market immediately through its Blüm retail dispensaries located in Oakland and Santa Ana. Terra Tech first started selling medical cannabis products to patients in California through its Blüm dispensary in Oakland. In anticipation of adult-use sales, the Company opened a second Blüm retail location in Santa Ana, California in September, 2017 and is currently constructing a Blüm dispensary in San Leandro, which is expected to open to the public in early 2018.
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