NEW YORK, March 27, 2017 /PRNewswire/ --
FinancialBuzz.com News Commentary
Based on New Frontier Data's sales forecasts in 2017, estimates show that adult use in states where cannabis is legal will generate $655 million in taxes on retail sales. Out of this amount, $559 million will be from cannabis specific taxes, such as Washington State's 37% cannabis retail tax rate. The remaining $96 million will be earned from state sales taxes that are applied on all retail sales. By 2020, tax revenues from cannabis will grow to $1.8 billion, of which $1.4 billion will be from cannabis-specific taxes. If medical sales are included in those calculations, then the total taxes generated in 2017 are projected to be $745 million and $2.3 billion by 2020. ChineseInvestors.com Inc. (OTC: CIIX), Aurora Cannabis Inc. (OTC: ACBFF), Eco Science Solutions Inc. (OTC: ESSI), Cannabis Sativa, Inc. (OTC: CBDS), Canopy Growth Corporation (OTC: TWMJF).
"During this tough economy states are looking for any way to close their budget shortfalls and it appears that cannabis may hold an answer for them. New Frontier Data looked at the potential revenues that could be generated from state cannabis taxes and found that in this year alone, states could raise nearly $750 million and triple that number by 2020. These revenues will have a meaningful impact on state programs and provide governors with much needed breathing room in their budgets," said New Frontier Data CEO, Giadha Aguirre De Carcer.
ChineseInvestors.com Inc. (OTCQB: CIIX) is a premier financial information website for Chinese-speaking investors. On March 20th the company announced that it has established and registered XiBiDi Biotechnology Co., Ltd. in the Pudong Free-Trade Area in Shanghai, with registered capital requirements of $1.45 million USD over the next 10 years. XiBiDi Biotechnology will focus on the online and offline sales of health products including hemp-derived CBD (cannabidiol) oil, as well as hemp-based food and beverages. Notably, the Chinese character 'XiBiDi' is homophonic to 'CBD' in English.
"I am delighted about the establishment and registration of our new hemp company," says CIIX Founder and CEO, Warren Wang. "XiBiDi Biotechnology is strategically located in the Pudong Free-Trade Area of Shanghai, China, where we have the opportunity to reach a consumer base of nearly 1.4 billion people. We believe that this large population affords XiBiDi an outstanding opportunity to be the provider of choice for natural hemp products."
ChineseInvestors.com revealed that XiBiDi Biotechnology will be the operator of CIIX's recently launched CBD online store, http://www.ChineseCBDoil.com , which will primarily focus on selling, where legal, hemp-based CBD nutrient and health products to Chinese-speaking customers worldwide through the online retail process. CIIX is also in preparations to open a retail store based in the predominantly Chinese community of San Gabriel, California. The establishment of XiBiDi Biotechnology supplements these ventures as well as the company's broader mission to develop its presence in the hemp industry. In addition to retail and direct sales, the company will focus on the legal import of hemp-based (but not CBD oil products) health products in China - a population increasingly interested in the health benefits of hemp and CBD oil - and the export of hemp food and beverages to the United States, Canada and Europe.
Aurora Cannabis Inc. (OTCQB: ACBFF) is a licensed producer of medical cannabis pursuant to Health Canada's Access to Cannabis for Medical Purposes Regulations (ACMPR). Recently the company unveiled the second generation of its popular mobile application, incorporating a number of enhanced features to provide a significantly upgraded user experience to new and existing clients of the Company. Coupled with Aurora's industry leading same-day and next-day delivery services, the app further expands the Company's e-commerce strategy, a key differentiator in the legal cannabis market.
Eco Science Solutions Inc. (OTCQB: ESSI) develops technical solutions, including enterprise software solutions, entertaining and useful content generation for mass distribution, and consumer applications for daily use. Its services include business location, localized communications between consumers and business operators, social networking, educational content, e-commerce and delivery. The company offers an app called Herbo, enabling consumers to find products and services that support the intake of alternative medicines for a naturopathic way of living and another app that helps to track day-to-day fitness routines, dietary habits, and alternative medicine intake, called Fitrix. Herbo has a database of over 14,000 medical cannabis locations and delivery services, doctors who provide evaluations, and local shops that sell relevant product.
Cannabis Sativa, Inc. (OTCQB: CBDS) is engaged in the research, development and licensing of natural cannabis products, including cannabis formulas, edibles, topicals, strains, recipes and delivery systems. The company recently announced that the company's subsidiary was awarded Patent PP27,475 for a Cannabis Plant named Ecuadorian Sativa and deemed "CTA". Equadorian Sativa has been shown in laboratory testing by Steephill Labs to have a Limonene level that is extraordinarily high at a level of 4.53, 10 to 20 times the usual range. This sets Equadorian Sativa apart from other varieties in its odor, the effects on mood and mentation and its medical qualities.
Canopy Growth Corporation (OTC: TWMJF) is diversified cannabis company, offering diverse brands and curated cannabis strain varieties in dried and oil extract forms. The company announced that Tweed Inc., a wholly-owned subsidiary of Canopy Growth, is pleased to announce the licensing of additional facilities at its flagship Smiths Falls campus, including new grow rooms that will increase flowering space by 50 percent. "This phase of construction evolves our design and comes in on time and on budget. We've found operational efficiencies that we believe make our existing and newly licensed rooms materially more efficient than they were two years ago. This means more products to market and more variety for customers," said Bruce Linton, Chairman & CEO, Canopy Growth.
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