NEW YORK, May 16, 2017 /PRNewswire/ --
According to a research by New Frontier Data, the legal cannabis market was worth an estimated $7.2 billion in 2016. The medical market is projected to grow at 13% CAGR through 2025, growing from $4.7 billion in 2016 to an estimated $13.3 billion in 2020. During the same period, adult-use sales are projected to grow at a 25% CAGR, from $2.6 billion to $11.2 billion. The report indicates the projections are based on assumptions that no other states will legalize cannabis use throughout the forecast period. As expected from a new growing market, the legal cannabis industry is projected to become a major job creating merchantry. "These numbers confirm that cannabis is a major economic driver and job creation engine for the U.S. economy," said Giadha Aguirre De Carcer, Founder and CEO of New Frontier Data. ChineseInvestors.com, Inc. (OTC: CIIX), Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE), Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP), Eco Science Solutions, Inc. (OTC: ESSI), General Cannabis Corporation (OTC: CANN)
One major component of the legal cannabis industry is the CBD market. A report by the The Hemp Business Journal estimates that the CBD market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources. In 2015, the market for consumer sales of hemp-derived CBD products were $90 million, plus another $112 million in marijuana-derived CBD products, sold through dispensaries - bringing a total CBD market to $202 million last year. That's a 700% increase from 2016.
ChineseInvestors.com, Inc. (OTCQB: CIIX) announced on May 2nd that it has appointed Summer (XiangYang) Yun as Chief Executive Officer (CEO) of its wholly-owned foreign entity, CBD Biotechnology Co., Ltd. XiBiDi Biotech's primary focus is online, retail and direct sales of hemp-based health products in China. Yun's initial focus will be the launch of 'CBD Magic Hemp Series' cosmetics line. He will also spearhead the Company's plan to import natural dietary supplements created using advanced extracting and purifying technologies into China. Yun is a marketing and branding executive with over 25 years of experience. Yun will report directly to CIIX's CEO Warren Wang.
"I am honored to be named as CEO of CBD Biotech," says Yun. "For over 5,000 years, hemp has been cultivated and used in over 25,000 products worldwide. CIIX has a unique opportunity to become one of the first companies to offer CBD-based skin care products in China online and through established retail and direct selling channels. Through the introduction of Magic CBD Series cosmetics to China, I hope to educate consumers regarding hemp's many benefits."
The CBD Magic Hemp Series line will include cleansers, moisturizing lotions and anti-aging products created using supercritical CO2 extraction technology. CBD Biotech also plans to launch a series of oral spray vitamins and supplements that can be used for relaxation, pain relief and sleep, among other things. Yun will oversee marketing and sales of these products in China, and utilizing his branding and marketing expertise, he will work to grow the CBD Biotech brand.
"I believe Yun is the perfect candidate to oversee CBD Biotech's operations. I am confident in his ability to introduce this revolutionary CBD-based skin care line to China and create and generate substantial revenue for CIIX," says Wang.
Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE) dedicates to developing next-generation synthetic cannabinoid therapeutics for transdermal delivery for patients with high unmet medical needs. On March 13, 2017, the company announced that it has completed enrollment in the Phase 2 STAR 1 (Synthetic Transdermal Cannabidiol for the Treatment of Epilepsy) clinical trial evaluating ZYN002 cannabidiol (CBD) gel in adult epilepsy patients with refractory focal seizures. The Company also announced that enrollment has completed in the Phase 2 STOP (Synthetic Transdermal Cannabidiol for the Treatment of Knee Pain due to Osteoarthritis) clinical trial evaluating ZYN002 CBD gel for the treatment of osteoarthritis.
Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) recently announced that subject enrollment is complete in its Phase 2 clinical study of anabasum (formerly known as JBT-101) for the treatment of skin-predominant dermatomyositis. The Company expects topline results from this study to be available in the fourth quarter of 2017. Anabasum is a first-in-class, synthetic oral endocannabinoid-mimetic drug that preferentially binds to the cannabinoid receptor type 2 (CB2) receptor expressed on activated immune cells and fibroblasts. CB2 activation triggers endogenous pathways that resolve inflammation and halt fibrosis.
Eco Science Solutions, Inc. (OTCQB: ESSI) is a technology-focused company targeting the health, wellness and alternative medicine industry. Recently, the company announced that it has signed a Sponsorship, Content Development and Licensing agreement with Roaring Lion Tours, Inc. to develop unique educational content that brings awareness and education to the alternative medicine category. Roaring Lion Tour develops inspirational and educational content that further promotes the benefits of medical marijuana. "There is a continuing need to bring awareness to the benefits of medical marijuana as a key category in the alternative medical health industry," stated Jeff Taylor, Chief Executive Officer of Eco Science Solutions.
General Cannabis Corporation (OTCQB: CANN) is the comprehensive resource for the highest quality service providers available to the regulated Cannabis Industry. Recently, the company announced financial results for the quarter ended March 31, 2017. In the first quarter, the company reported a 4% increase in total revenues when compared to the quarter ended March 31, 2016. During the first quarter of 2017, the company's Operations segment, Next Big Crop, increased revenues by 119% over the first quarter of 2016. "Next Big Crop, our Operations segment, had record revenues in the first quarter of 2017," said Robert Frichtel, Chief Executive Officer of General Cannabis.
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