NEW YORK, June 16, 2017 /PRNewswire/ --
According to a report by the Hemp Business Journal and Vote Hemp, the total retail value of hemp products sold in the U.S. in 2016 was $688 million. As a result of successful legalization campaigns across several U.S. states and successful hemp cultivation pilot programs, sales of items like shelled seed, protein powder, soaps and lotions have continued to increase. In all, sales of Hemp CBD products boosted the industry to a five year 22% CAGR. ChineseInvestors.com, Inc. (OTC: CIIX), Vitality Biopharma Inc. (OTC: VBIO), United Cannabis Corporation (OTC: CNAB), General Cannabis Corp. (OTC: CANN), Medical Marijuana, Inc. (OTC: MJNA).
"Hemp Business Journal estimates the total retail value of all hemp products sold in the U.S. to be at least $688 million for 2016. We estimate the hemp industry will grow to $1.8 billion in sales by 2020, led by hemp food, body care, and CBD-based products. The data demonstrates the hemp industry is growing quickly at 22% five year CAGR and being led by food and body care products, with Hemp CBD products showing a 53% AGR," said Sean Murphy, the Founder and Publisher of Hemp Business Journal.
ChineseInvestors.com, Inc. (OTCQB: CIIX) on June 14th announced that, "It has incorporated CBD Biotechnology Inc. in British Columbia, Canada. CBD Biotechnology Inc. will focus on research, development and distribution of health products, including hemp-derived cannabidiol ("CBD") products, as well as hemp-based food and beverage products.
In April 2017, fulfilling a campaign pledge, Prime Minister Justin Trudeau introduced legislation to legalize the recreational use of marijuana in Canada by the middle of 2018. Canada will become the second country to completely legalize marijuana as a consumer product. The law will require purchasers to be at least 18 years old, and it will limit the amount they can carry at any one time to 30 grams. While the federal government will license and regulate growers, each of Canada's provinces will need to decide exactly how the drug will be distributed and sold within its boundaries."
"I am delighted about the incorporation of CBD Biotechnology Inc.," says Warren Wang, Founder and CEO of CIIX. "CBD Biotechnology Inc. is strategically located in British Columbia, Canada, known to be a cannabis-friendly province. The British Columbia cannabis industry produces 40 percent of all Canadian cannabis, making cannabis among the most valuable cash crops in the province. While CIIX has been laying the groundwork to enter the legal cannabis market for some time, the complete legalization of cannabis in Canada provides another great opportunity for CIIX to enter the market."
Vitality Biopharma Inc. (OTCQB: VBIO) is dedicated to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders. On April 5, 2017, the company announced the filing of an international patent application in March 2017 that describes compounds discovered to be effective in a drug screening model of neural repair. The discoveries included a compound that is known to have a positive track record of safety in clinical trials and to provide pain relief through modulation of the vanilloid TRPV1 receptor. As a result, Vitality Biopharma has made broad patent claims covering use of CBD and other TRPV1 agonists for myelin repair and for treatment of demyelinating disorders.
United Cannabis Corporation (OTCQB: CNAB) announced that it has signed an exclusive licensing agreement with Vessel Life Sciences ("VLS") to produce and distribute its products, including the award-winning Prana Bio Nutrient Medicinals, throughout Pennsylvania. Established in 2016, Vessel Life Science LLC is dedicated to advancing the use of cannabinoids in medicine, with a focus on the refinement of genetics for medical grade strains of CBD-rich cannabis plants for the commonwealth of Pennsylvania's patient base. United Cannabis' Prana line offers a wide selection of raw and active cannabinoid supplements with multiple delivery methods that have accurately dosed medicine from 1mg to 100mg.
General Cannabis Corp. (OTCQB: CANN) is the comprehensive resource for the highest quality service providers available to the regulated Cannabis Industry. On March 27, the company announced 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. "The demand for security services in California is skyrocketing," said Hunter Garth, Managing Director of IPG. "As a known security leader in Colorado, we are now seeing a dramatic rise in security and transportation requests from companies throughout the state. By opening our first office in the state capital, we plan to fulfill a vital component of the regulated cannabis industry in this substantial market."
Medical Marijuana, Inc. (OTC: MJNA) recently announced that its subsidiary Kannaway® LLC, the first hemp lifestyle network to offer cannabidiol (CBD) hemp botanical products, is adding "Kannaway Essential Oils" to its line of lifestyle products. Made with pure essential oils, natural terpenes derived from the cannabis (hemp) plant, and a Bi-Bong™ blend of herbal extracts, Kannaway Essential Oils capture the benefits of dozens of natural botanical ingredients. Kannaway Essential Oils can be placed on acupressure points like the inside of the wrist, against the neck, and on the temples or added to an oil diffuser to spread the aromatherapeutic scents throughout the room.
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