NEW YORK, May 21, 2018 /PRNewswire/ --
According to a recent report published by Arcview Market Research, in partnership with BDS Analytics, worldwide spending on legal cannabis is expected to reach $57 billion by 2027. While spending in adult-use cannabis market is expected to reach $38.3 billion. North America is projected to dominate in legal cannabis market due to accelerating pace of legalization for both medical and recreational cannabis. A Major segment of the legal cannabis industry is the hemp-derived cannabidiol (CBD) market. According to a report by Forbes, Brightfield Group projects that Hemp-derived cannabidiol (CBD) will be a billion-dollar market in just three years. Chineseinvestors.com, Inc. (OTC: CIIX), Medical Marijuana, Inc. (OTC: MJNA), PotNetwork Holdings, Inc. (OTC: POTN), Lexaria Bioscience Corp. (OTC: LXRP), Namaste Technologies Inc. (OTC: NXTTF)
A report by Forbes explained the difference in approach to Cannabis market in the U.S and in Europe. "The main difference between the U.S. and European cannabis markets is that in the U.S., recreational use will dominate sales. With a budget of $1.3 trillion in health care spending, European government-subsidized health care systems will bring the medical cannabis market to dominate Europe and become the largest medical marijuana market in the world… The initial decision by many U.S. states and Canada to create medical-only cannabis regulations prompted many other countries to act similarly. But California's and Canada's willingness to legalize adult recreational use triggered a second wave of laws internationally to increase access to medical cannabis," according to Forbes.
Chineseinvestors.com, Inc. (OTCQB: CIIX) just announced breaking news this morning that, "Its wholly owned subsidiary, ChineseHempOil.com, Inc. ("ChineseHempOil") has expanded its domestic sales force appointing Nina Wang Vice President of Sales for its United States Consumer Retail/E-Commerce Division on March 19, 2018, setting the stage to complete the temporarily postponed spin off of all of the Company's hemp related assets in the near future.
Mrs. Wang has over 15 year's sales experience in the financial services industry with over 10 years as a Merchant Services Sales Manager at USA First Credit Card, Inc. Prior to that, Mrs. Wang worked as a Sales Manager for Alliance Bank Card Services. Since joining ChineseHempOil.com, Inc. in March 2018, Mrs. Wang has hired a team of sales representatives focused on wholesale and consignment sales in the Los Angeles area.
Through her efforts, ChineseHempOil.com, Inc. has developed strategic relationships with over 70 retail establishments in the Los Angeles area to consign the ChineseHempOil OptHemp products with plans to expand to Northern California in the near future. Mrs. Wang will also play an integral role in procuring new manufacturing relationships to, continuing to brand the Opt Hemp product line and developing new cutting edge hemp products.
"With over 15 years sales and management experience, we look forward to the increased sales that will be generated through Mrs. Wang's leadership as we are laying the groundwork to increase revenues in advance of the spin-off of all of the Company's hemp related assets. We were pleased with the 57% increase in monthly sales generated by the recent Mother's Day Promotion and are looking forward to an even better response for the Father's Day promotion," said Warren Wang CEO.
The Company recently announced in an 8k filing that spin-off of all of the Company's hemp related assets, originally scheduled for May 31, 2018, has been temporarily postponed as it continues to develop its domestic sales channels."
Medical Marijuana, Inc. (OTC: MJNA) is the first publicly traded cannabis company in the United States. Earlier this month, the company announced its subsidiary HempMeds® has partnered with Northshore Pharmacy to sell its Real Scientific Hemp Oil™ (RSHO™) CBD oil as a non-prescription product in Bermuda. HempMeds® was the first company to ever bring hemp-based CBD oil products to market in the U.S. in 2012 -- and the first to both make CBD products available in bulk for U.S. consumers and provide high-quality CBD oil to customers around the world. HempMeds® was also the first-ever company to receive historic federal government import approvals for its CBD products in the nations of Brazil, Mexico and Paraguay. Prior to RSHO™ products becoming registered as official medicines in Paraguay in January 2018, in May of 2016 RSHO™ became the first medical cannabis product approved and imported for use in Paraguay for compassionate use with a prescription and government permission.
PotNetwork Holdings, Inc. (OTC: POTN) is a publicly traded company that acts as a holding company for its subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD oils. Recently, the company announced that its wholly owned subsidiary, Diamond CBD, Inc. was showcased at Booth 65 at the Atlantic City Convention Center, where 25,000 samples of its most popular CBD infused assorted gummy bears, were enjoyed by an international crowd of counter-culture exhibitors, consumers, and vendors. Diamond CBD has a highly successful history of sales from these key trade shows. At this show the Company featured numerous products, drawing attention directly from prospective vendors on a global scale. Featured at the show were Diamond CBD's Vape Additives, Liquid Gold Vape Juice, Chill CBD Gummies, Diamond CBD Tinctures and Biotech Creams, the Company's most successful products.
Lexaria Bioscience Corp. (OTCQX: LXRP) has developed and out-licenses its disruptive delivery technology that promotes healthier ingestion methods, lower overall dosing and higher effectiveness of lipophilic active molecules. On April 23, 2018, the company announced that it has commenced a clinical study in Europe to evaluate the cardiovascular and cognitive health effects of Lexaria's high absorption TurboCBD™ capsules. The study employs a double-blind and placebo-controlled cross-over design measuring TurboCBD™ effects both after a single 45mg dose and, on a separate day, after a single 90mg dose in 12 healthy male volunteers. The study hypothesises that, following TurboCBD™ supplementation, circulating CBD and nitric oxide will increase in most participants; that glucose and blood pressure will remain stable; and that vascular function, and cognitive performance will improve.
Namaste Technologies Inc. (OTCQB: NXTTF) is a global leader in the sale of medical cannabis consumption devices. Recently, Namaste and Tetra Natural Health a division of Tetra Bio-Pharma Inc. announce that the Company has signed a Supply Agreement for the sale and distribution of Rx Princeps™ the medicinal cannabis brand of Tetra Natural Health, a division of Tetra Bio-Pharma, whereby Namaste will purchase Rx Princeps™ from Tetra Natural Health which will be sold through Namaste's wholly owned subsidiary Access to Cannabis for Medical Purposes ("ACMPR") medical cannabis "sales-only" facility, Cannmart Inc. The agreement also includes the sales of Tetra Natural Health's specially designed inhalation device, air filters and its Munchies B Gone gum. Rx Princeps™ is a unique blend of 3 strains of medical cannabis. Its production has been standardized in order to ensure a lot-to-lot consistent composition in its active ingredients (THC and CBD).
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