The Legal Cannabis Market Growth in North America

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Apr 05, 2017, 09:00 ET

NEW YORK, April 5, 2017 /PRNewswire/ --

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The legal cannabis market is growing rapidly in the North America. According to Arcview Market Research, people in the United States and Canada spent an estimated $53.3 billion on legal cannabis products in 2016. The report shows that the illegal cannabis market accounted for about 87 percent of the total sales in 2016, down from 90 percent in 2015. The black market is losing ground to the legal market as more states in the U.S. voted in favor of reforms and legalizing cannabis. Policy makers in Canada are expected to begin the process of cannabis legalization in the near future. ChineseInvestors.com Inc. (OTC: CIIX), OWC Pharmaceutical Research Corporation (OTC: OWCP), General Cannabis Corporation (OTC: CANN), United Cannabis Corporation (OTC: CNAB), Corbus Pharmaceuticals (NASDAQ: CRBP).

According to reports from Canadian national broadcaster, CBC News, the current Liberal government in Canada will announce legislation this month to legalize cannabis in Canada by July 1, 2018. The new law will allow adults with a minimum age of 18 to purchase cannabis and grow up to four cannabis plants per household. The report also said that the federal government will be in charge of licensing producers, while provincial governments will have the right to set price and manage distribution.

ChineseInvestors.com Inc. (OTCQB: CIIX) earlier today announced, "It will attend the 'Invest 2017' exhibition in Stuttgart, Germany which will take place from April 7th-8th, 2017. Invest 2017 is the leading trade fair and congress for finance and investment in Germany and provides CIIX the opportunity to introduce its media and nutritional hemp companies, http://www.ChineseFN.com and http://www.ChineseCBDoil.com to German investors.

Invest 2017 is considered to be the No. 1 meeting point for the finance and investment sector in Germany. As one of the largest financial sector events in Germany, it attracted more than 12,000 visitors and 144 exhibitors in 2016. Many private and institutional investors use the platform to obtain information, compare assets and invest while exhibitors have the opportunity to generate interest in raising investment capital for their ventures."

"I am delighted that CIIX is invited to attend 'Invest 2017' as an exhibitor. This exhibition provides CIIX a valuable opportunity to introduce our nutritional hemp business to the German financial sector and meet numerous potential investors," says Warren Wang, Founder and CEO of CIIX. He further added, "In March 2017, an act to legalize the use of cannabis for medicinal purposes was passed by the German parliament. The recent approval of medical cannabis will be good for the development of the hemp-based CBD market in Germany."

OWC Pharmaceutical Research Corporation (OTCQB: OWCP) is engaged in the business, through its wholly-owned Israeli subsidiary, One World Cannabis Ltd., of conducting medical research and clinical trials, in full compliance with all international regulatory protocols, for the development of cannabis-based products and treatments that target a variety of diseases and medical indications. The company works to bring patients better outcomes by identifying unique formulation and efficient delivery systems. The company offers Sublingual Soluble Tablets and Topical Creams. Its Tablets provide patients with an adequate alternative to smoking cannabis buds for the treatment and management of pain, and its Topical Cream treats various skin diseases, such as Psoriasis.

General Cannabis Corporation (OTCQB: CANN) is the all-in-one resource for the highest quality service providers available to the regulated cannabis industry. General Cannabis is a trusted partner to the cultivation, production and retail sides of the cannabis business through a combination of strong operating divisions such as security, marketing, operational consulting and products, real estate and financing. As a synergistic holding company, its divisions are able to leverage the strengths of each other, as well as a larger balance sheet, to succeed. Its subsidiaries include, Chiefton Design, GC Capital, Next Big Crop, Iron Protection Group, and Chiefton Supply Company.

United Cannabis Corporation (OTCQB: CNAB) provides consulting services, proprietary products and licenses its intellectual property to businesses in the cannabis industry. United Cannabis own distinct intellectual property relating to the legalized growth, production, manufacture, marketing, management, utilization and distribution of medical and recreational marijuana and marijuana infused products. The Company's A.C.T. Now Program and patent-pending Prana Bio Nutrient Medicinals provide a comprehensive solution designed to enable physicians and patients to implement and monitor effective therapy protocols. Prana Bio Nutrient Medicinals is a comprehensive full spectrum cannabinoid system that utilizes the entire cannabis plant by controlling specific cannabinoid ratios, accurate dosing, and multiple non-abrasive delivery methods.

Corbus Pharmaceuticals (NASDAQ: CRBP) is a clinical stage biopharmaceutical company focusing on rare, life-threatening, chronic inflammatory diseases. The company's pipeline drug, Anabasum (JBT-101 or Resunab), is a first in class, synthetic oral endocannabinoid-mimetic drug that preferentially binds to the CB2 receptor expressed on activated immune cells and fibroblasts. CB2 activation triggers endogenous pathways that resolve inflammation and halt fibrosis. Anabasum has the potential to be a safe and potent anti-inflammatory drug with a unique mechanism of action to treat a range of chronic inflammatory diseases. Anabasum is currently being evaluated for the treatment of cystic fibrosis, diffuse cutaneous systemic sclerosis ('systemic sclerosis'), dermatomyositis and systemic lupus erythematosus, four indications in which inflammation contribute to disease progression.

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