NEW YORK, December 19, 2016 /PRNewswire/ --
http://www.Financialbuzz.com - Ever since certain states voted to approve the use of recreational and medical cannabis use, the legalization of the drug has been a controversial topic throughout the nation. According to a 2016 report from ArcView Market Research, recreational marijuana sales more than tripled from 2014 to 2015 as Colorado and Washington's markets matured, reaching $1.2 billion in 2015. California's population is more than three times larger than Colorado and Washington combined. In 2020, ArcView predicts recreational sales will hit $12 billion nationwide and medical sales will top $10 billion. ChineseInvestors.com Inc. (OTC: CIIX), Terra Tech Corporation (OTC: TRTC), MCig Inc. (OTC: MCIG), Medical Marijuana Inc. (OTC: MJNA), Cannabis Science Inc. (OTC: CBIS).
As stated in "The CBD Report", a definitive report for market sizes and high-level analysis of business trends on the cannabidiol industry by The Hemp Business Journal, it is estimated that the cannabidiol 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. This means a 700% growth from 2016. In 2015, the market for consumer sales of hemp-derived CBD products was $90 million, plus another $112 million in marijuana-derived CBD products which were sold through dispensaries, bringing a total cannabidiol market to $202 million last year.
ChineseInvestors.com Inc. (OTCQB: CIIX) describes itself as the premier financial information website for Chinese-speaking investors in both the U.S. and China announced recently that, "a well-known Cannabidiol (CBD) health brand engaged in the development, manufacturing, marketing and distribution of consumer products containing CBD, formed a new wholesale agreement that enables CIIX to retail nutritional supplements containing CBD to the Asian market through both online and in-store sales. The CBD company's flagship product is the top-selling brand of hemp-derived CBD oil for consumers in the natural products industry. This leading brand has not only built a reputation for product quality, safety and efficacy, but also offers the most diverse and largest supply of hemp-derived CBD oil on hand in the United States.
Warren Wang, founder and CEO of CIIX, commented: "As more and more states in the U.S. legalize the use of either medical or recreational cannabis, CBD supplements have become a hot spot in the health products market. ChineseInvestors.com is very pleased to enter into a new wholesale agreement with a well-known manufacturer of the top-selling brand of CBD Oil. Through this mutually beneficial partnership, we can positively open the Chinese market in the U.S. and the markets in Asia for CBD products, and continue exploring investment opportunities that further expand our business in the cannabis industry."
Mr. Wang further remarked: "According to The CBD Report published by The Hemp Business Journal, Cannabidiol is one of the fastest growing market categories in the U.S. hemp and legal marijuana industries with a compound annual growth rate of 59%. In 2015, the CBD industry grew from a nearly invisible market a few years ago to $202 million in consumer sales, and it is further expected to grow to $2.1 billion in consumer sales by 2020. Because the Asian market has a prospective consumer base of 4.4 billion people, we are confident that our first step to partner with the leading manufacturer of CBD oil in the world today could have potentially towering profit opportunities."
Terra Tech Corporation (OTCQX: TRTC), is a cannabis-focused agriculture company. The Company operates through two segments: Hydroponic Produce and Cannabis Products. The Company, through its subsidiary, GrowOp Technology Ltd., is engaged in the design, marketing and sale of hydroponic equipment. It is also a retail seller of locally grown hydroponic produce, herbs, and floral products through its subsidiary, Edible Garden Corporation. It plans to operate medical marijuana cultivation, production and dispensary facilities in Nevada through its subsidiaries, MediFarm (3 segments). Through its subsidiary, IVXX Inc., it produces and sells a line of cannabis flowers and cigarettes, among others. The hydroponic produce segment consists of Edible Garden's business and operations.
Diversified company servicing the legal cannabis, hemp, and cannabidiol markets, MCig Inc. (OTCQB: MCIG) has recently released its quarterly financial results. Highlights from the financial results include the company's assets having increased by 300 percent during the fiscal year, gross profit increased by 118% for the quarter and 29% for the six month period ending October 31, 2016 as compared to the same periods in 2015, each reporting operational segment was profitable, and has gained over $200,000 in excess working capital for the fiscal year. "MCIG's rapid business growth & development has necessitated our need to effectively communicate with our shareholder base. We understand the importance of sharing recent events with our shareholders to ensure they have a thorough understanding of our vision and the growth opportunities we have positioned ourselves & shareholders for.," stated MCIG Chief Executive Officer, Paul Rosenberg.
Medical Marijuana Inc. (OTC: MJNA) investment company AXIM® Biotechnologies Inc., receives approval from medical ethical committee of Wageningen University to begin trial for its cannabidiol product, CanChew Plus® chewing gum, for patients suffering from irritable bowel syndrome. "We congratulate AXIM on yet another step forward toward full clinical trials on cannabis-based treatments," said Dr. Stuart Titus, Chief Executive Officer of Medical Marijuana Inc. "With the global treatment market for irritable bowel syndrome estimated to grow in value to $1.5 billion by 2023, cannabis-based products like CanChew Plus® can provide viable solutions for patients suffering from some of the most common of functional gastrointestinal disorders."
Medical marijuana research and development company, Cannabis Science Inc. (OTC: CBIS) works on phytocannabinoid science targeting critical illnesses, and adheres to scientific methodologies to develop, produce and commercialize phytocannabinoid-based pharmaceutical products. The Company is involved in the creation of cannabis-based medicines, both with and without psychoactive properties, to treat disease and the symptoms of disease, as well as for general health maintenance. The Company focuses on the development of governmentally approved pharmaceuticals, including CS-TATI1, CS-S/BCC-1 and neurological therapy under study or development. The Company's subsidiaries include Cannabis Science BV and Cannabis Science International Holding BV.
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