NEW YORK, April 24, 2017 /PRNewswire/ --
According to data published by Arcview Market Research, retail sales taxes in state-sanctioned cannabis markets totaled more than $500 million in 2016 in Colorado, Washington, and Oregon alone, and $836 million since adult-use sales began in 2014. Nearly 1.9 million North Americans are legally using cannabis to manage conditions as severe as polymorphic seizures and as common as chronic pain. Millions more are consuming it legally in adult-use states with little or no negative impact. The report also points out that illicit sales are now being rolled back at the fastest rates and in those states with the most mature legal adult-use markets. Arcview forecasts growth will reaccelerate beginning in 2018, as adult-use sales ramp up in Canada, California, and Massachusetts along with medical sales in Florida. ChineseInvestors.com, Inc. (OTC: CIIX), General Cannabis Corp. (OTC: CANN), United Cannabis Corp. (OTC: CNAB), Cannabis Sativa, Inc. (OTC: CBDS), Axim Biotechnologies, Inc. (OTC: AXIM)
The research indicates that the biggest political win for the legal cannabis industry in the U.S. election came in California. California pioneered the modern cannabis policy reform movement in 1996, when voters passed Proposition 215, which is the Compassionate Care Act. Though voters failed to approve adult use in 2010, they voted overwhelmingly in 2016 to make adult use legal in a state that represents the world's sixth-largest economy. Nevada also voted to legalize adult use, though a similar initiative failed narrowly in Arizona.
ChineseInvestors.com, Inc. (OTCQB: CIIX) earlier today announced, 'An update on its financial and business achievements for the third quarter of 2017, as well as its outlook for the remainder of the current fiscal year and 2018.'
- Filed form 10Q with the U.S. Securities and Exchange Commission (SEC) reflecting significantly higher revenues for the three- and nine-month periods ended February 28, 2017, as compared to the same periods of fiscal 2016. Operating revenues increased 95% and 109%, respectively. - Revenues from the investor relations business continued to grow in the third quarter, accounting for approximately 60% of total revenues.
Business Highlights: - Completed a $5 million private placement with proceeds to be allocated toward the development and branding of hemp-based health production line and retail sales operations; Shanghai & United States office expansions and infrastructure development, among other things. - Officially established and registered CBD Biotechnology Co. Ltd. ('XiBiDi Biotechnology Co. Ltd.'), a wholly-owned foreign entity of CIIX, in the Pudong Free-Trade Area in Shanghai. - Officially launched Chinese language online store ChineseCBDoil.com operated by CBD Biotechnology Co. Ltd., offering hemp-based health products to the Chinese community. - We have begun a private placement of a new series of our preferred stock offered only to Canadian investors.
Looking forward, Wang states, "The blueprint of our Company's corporate business strategy has changed as we are entering the legal hemp industry and because of this, our revenues this quarter did not exceed that of the previous quarter. However, revenues for the nine-month period increased by more than 100%. We believe our plan to market and sell hemp-based health products in the United States and China will generate substantial revenues for CIIX in FY2018. Our overall goal in 2018 is for CIIX to achieve annual revenue growth rate of more than 100%, while cutting costs and achieving profitability."
General Cannabis Corp. (OTCQB: CANN) is the comprehensive resource for the highest quality service providers available to the regulated Cannabis Industry. We are a trusted partner to the cultivation, production and retail side of the cannabis business. On March 27th the company announced in response to growing demand, that its security division, Iron Protection Group (IPG), the premier provider of protection services for the regulated cannabis industry, will begin offering its services in California. By opening an office in Sacramento, IPG will serve the largest regulated cannabis market in the world, now that the state voted to legalize the recreational use of marijuana for adults last November.
United Cannabis Corp. (OTCQB: CNAB) was formed to advance the use of cannabinoids in medicine through research, product development and education. On January 12th announced that it has teamed with Jamaica-based Cannabis Research & Development and initiated a pilot program in collaboration with the Rastafari Studies Centre for Cannabis Research, University of West Indies, Mona, to establish protocols for the development of Ital Standards, which will be used as a guide for the processing, cultivation and consumption of cannabis. United Cannabis will work in collaboration with the Rastafari Studies Centre to support the activities of the DHAPA Association in accord with their broader objective of establishing an infrastructure for licensed Rastafari farmers and trainees to participate in the Jamaican marijuana industry. The Joint Venture's initial task will be to document and verify the genetics of the Centre's preliminary plantings, as well as provide guidance in the development of appropriate standards and training methods for future activities.
Cannabis Sativa, Inc. (OTCQB: CBDS) on April 13th announced that it has entered into a license agreement for the manufacture, marketing and sale of the Company's White Rabbit products in the State of California. The Company anticipates adding products to its California licensing agreement in the coming months. Moreover, the Company is seeking to engage additional licensees in states where medical cannabis is legal. The Company announces that it closed its acquisition of the White Rabbit brand of cannabis sprays and cannabis mints (http://www.enjoywhiterabbit.com). The acquisition includes the exclusive and proprietary product formulations, product mixes, manufacturing methods and branding. The White Rabbit product line currently consists of fast acting low dose cannabis oral sprays and popular low dose cannabis mints.
Axim Biotechnologies, Inc. (OTCQB: AXIM) On March 7th reported on the enrollment of 40 patients and commencement of its Phase II clinical trial for the treatment of irritable bowel syndrome (IBS) with the company's CanChew Plus® CBD gum. The study is being conducted by Renger Witkamp, Professor and Chair in Nutrition and Pharmacology, at Wageningen University in the Netherlands. Selected from a pool of over 400 patients, 40 trial patients aged 18-65 will be subject to a randomized, double-blind, cross-over trial of 8 weeks. Patients will receive a maximum 6 chewing gums per day, either containing 50 mg of cannabidiol per chewing gum in case of the CanChew chewing gum, or a placebo chewing gum.
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