NEW YORK, November 14, 2016 /PRNewswire/ --
ChineseInvestors.com (OTCQB: CIIX) ("CIIX" or the "Company"), the premier financial information website for Chinese-speaking investors in both the U.S. and China, announces today that it will launch the world's first Chinese-language mobile cannabis navigation application. This cannabis 'Yelp' style social media mobile app will contain a database of marijuana dispensaries and cannabis strains, a platform to review and discuss various cannabis products, and maps showing the locations of medical and recreational cannabis dispensaries. In addition, the mobile app will offer cannabis business summary reports of Los Angeles and other large cities, so that users can easily get the best recommendations for local legal marijuana products. The Company intends to launch this application on January 1st, 2017, and the platform will expand to include cannabis merchant advertising and tourism recommendations in the next few years.
By a margin of 56% to 44%, California voters passed Proposition 64 on November 8th, making it the fifth state to legalize recreational cannabis. With the addition of California, Massachusetts, Maine and Nevada, the percentage of Americans living in states where cannabis use is legal for adults rose from 5 percent to 20 percent. The approval of Proposition 64 implies that the legal cannabis industry in California will expand rapidly and cannabis trade revenues are expected to double in the coming year. The demand and popularity for legal cannabis products among Chinese communities have the potential to grow, as California has millions of Chinese in its population. Currently, there are about 1,250 cannabis retailers in the regions of Los Angeles and San Diego and the number is expected to grow after the legalization of recreational cannabis use.
Warren Wang, founder and CEO of CIIX, commented: "Many Chinese investors still have a bias against the cultivation and sales of cannabis, yet its effectiveness in the fields of medicine, food, cosmetics and other industries cannot be ignored. And for those Chinese who do accept medical or recreational use of cannabis, they will need help in locating appropriate resources to assist them in learning how to utilize cannabis in an effective way. The cannabis 'Yelp' style social media mobile app developed by our company is specifically designed to help curious Chinese people do this. Furthermore, this application will help Chinese investors discover valuable business opportunities in cannabis cultivation, advertising and tourism."
Mr. Wang further remarked: "With the gradual opening up of cannabis industry in the U.S., marijuana manufacturing and retail as well as research and development, will expand at a rapid pace. The legal cannabis industry in the U.S. is expected to be worth $50 billion by 2026, expanding to more than eight times its current size. We strongly believe that the current cannabis industry among Chinese communities can be considered as an emerging market. And we feel that our new cannabis navigation mobile application will bring more curious Chinese investors to this emerging market and more funding to the whole cannabis industry. CIIX will become the hub or most recognizable source for information and analysis among the Chinese cannabis consumer and investor."
About ChineseInvestors.com (OTCQB: CIIX):
ChineseInvestors.com, Inc. ('CIIX'), founded in 1999 endeavors to be an innovative company; providing (a) real-time market commentary, analysis, and educational related services in Chinese language character sets (traditional and simplified), (b) support services to our various partners, (c) consultative services to smaller private companies considering becoming a public company, (d) advertising and public relation related support services, and (e) other services we may identify having the potential to create value or partnership opportunity with our existing services.
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SOURCE ChineseInvestors.com, Inc