NEW YORK, December 5, 2016 /PRNewswire/ --
After elections, another four states have voted in favor of legalization of cannabis for recreational purposes, including the state of California, which is the largest market for cannabis. Market analysts have been publishing analytical reports regarding the future of the legal cannabis market. According to a report by ArcView Market Research for example, is projecting that the cannabis sales will surpass $6.7 billion in sales in the United States this year. Sales are expected to grow to $21.8 billion by 2020. ChineseInvestors.com Inc. (OTC: CIIX), Medicine Man Technologies, Inc. (OTC: MDCL), CV Sciences Inc. (OTC: CVSI), Medical Marijuana Inc. (OTC: MJNA), Cara Therapeutics Inc. (NASDAQ: CARA)
These projections have a historical precedent. Colorado and Washington sates were the first to legalize cannabis for recreational use back in 2012. Soon after Oregon, Alaska, and the District of Columbia followed. As a result, between 2013 and 2015 the legal cannabis industry's revenue increased from $1.5 billion to $5.4 billion. With the new four states to pass reforms, the growth of the industry is likely to accelerate even more.
Many small companies have recently announced news in this sector. ChineseInvestors.com Inc. (OTCQB: CIIX) specializes in providing real-time market commentary and analysis in the Chinese language. The Company offers subscription services to provide education about investing news. Previously the company announced a strategic investment into another public equity company Medicine Man Technologies, Inc. (OTCQB: MDCL), a cannabis branding and consulting company that boasts 24 clients.
ChineseInvestors.com Inc. announced today that it, "that it has entered into a new strategic alliance framework agreement with Shenzhen Yuanrong PE Capital ("Yuanrong"), a private capital firm based in China. Under the framework agreement, CIIX and Yuanrong will engage together in raising seed capital from mainland Chinese investors with the use of proceeds going to locating and funding select propitious investment opportunities in the new emerging industry of medical and recreational cannabis."
This new strategic alliance will target two types of enterprises. The first category includes Chinese manufacturers that export products to the US, such as companies focusing on soil-free indoor gardening, energy-saving LEDs, greenhouse engineering design and greenhouse hardware. CIIX and Yuanrong will provide the companies with the individual and institutional funds raised in China, assistance in becoming publically-traded in the US market, and investor relations services to improve their visibility and profitability.
Mr. Wang further remarked: "Many manufacturers in China want to participate in the cultivation of cannabis, and the recent strength of the US dollar exchange rate provides a further advantage to Chinese manufacturers. However, investors from mainland China have little access to information and insights about the US cannabis industry. Fortunately, ChineseInvestors.com has a clear lead in early research of the cannabis industry compared to our other peers. Our investment in The Medicine Man Denver, Inc. (MDCL) was a great success over the last three years. We are very confident our new strategic alliance with Yuanrong will provide Chinese individuals and institutional investors with the researched news in 2017."
CV Sciences Inc. (OTCQB: CVSI) operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and, a consumer product division focused on manufacturing, marketing and selling plant-based CBD products to a range of market sectors. CV Sciences, Inc. has primary offices and facilities in Las Vegas, Nevada and San Diego, California. Recently the company announced the latest addition to its consumer products division, Purified Liquids™, which offers the highest quality, premium CBD vape e-liquids available on the market today.
Medical Marijuana Inc. (OTC: MJNA) announced that its major investment company AXIM® Biotechnologies, Inc. has filed an IP application with the World Intellectual Property Organization on a proprietary method to extract tetrahydrocannabinol acid from cannabis plants and to attain tetrahydrocannabinol (THC) with higher purity than conventional methods being used in the market today. The recently-filed IP would give protection to the invention of a method of extraction of THC-A from the cannabis flower using a solvent where the yield is approximately 50-70 percent with regards to THC-A content in the starting material.
Cara Therapeutics Inc. (NASDAQ: CARA) completes planned enrollment of 8-week multi-dose phase of adaptive trial of I.V. CR845 in Uremic Pruritus. Uremic Pruritus is caused by chronic kidney failure and is the most common internal systemic cause of itching. "We're very pleased to have completed enrollment as planned for Part A of the Phase 2/3 trial in pruritus associated with chronic kidney disease, as these eight-week data will determine the optimal dosing to carry forward into planned registration trials. In our previous Phase 2 trial, I.V. CR845 significantly reduced itch and improved the quality of life for dialysis patients with this condition over a two-week treatment period," said Derek Chalmers, Ph.D., D.Sc. President and Chief Executive Officer of Cara Therapeutics. "We look forward to reporting top-line data from Part A of this trial in the first quarter of 2017 and, based on the results, initiating the planned registration phase later in the year."
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