NetworkNewsWire Editorial Coverage: Medical cannabis sales are set to impress even the most timid investor, with projected sales of nearly $5 billion in 2017, or about 67% of the $7.2 billion legal cannabis market. Hemp-derived cannabidiol (CBD) product sales are also expected to be a billion-dollar business within three years, growing at a projected 55% compound annual growth rate from 2016’s $170 million in revenue, according to an article in Forbes(1). As the cannabis industry continues to flourish, many publicly traded companies are finding ample opportunities to thrive. Standout companies determined to grow with the industry include ChineseInvestors.com (CIIX) (CIIX Profile), CV Sciences, Inc. (CVSI), Terra Tech Corp. (TRTC), Medical Marijuana, Inc. (MJNA) and Hemp, Inc. (HEMP)
It’s worthwhile to note that significant changes in the acceptance of medical and recreational marijuana also includes the alternative forms of CBD-infused and hemp-derived products, which most people now understand do not contain THC, the psychoactive compound found in marijuana. A massive amount of research into the health benefits of CBD and its effect on mental health disorders is also underway in the scientific community.
Branching out into the unique adaptations of the hemp oil business made perfect business sense for ChineseInvestors.com (CIIX) (www.ChineseInvestors.com), a leading financial information website for Chinese-speaking consumers and investors. CIIX has already established two wholly-owned subsidiaries based in China and the United States. CBD Biotechnology Co., Ltd., located in the free trade zone of Shanghai, China, has plans to deliver a hemp-infused skin care line in China before the end of 2017, while ChineseHempOil.com, Inc., located in the U.S., has launched its first hemp oil product line, “OptHemp.” Customers of ChineseHempOil.com can also purchase the company’s hemp-based products, foods and beverages using bitcoin (http://nnw.fm/w3pbB). The company’s annual financial results, released Tuesday, show a 76% YoY increase in revenues along with an array of new business ventures successfully being introduced to investors.
Among its offerings is the first marijuana social media mobile app designed for Chinese-speaking customers worldwide with a beta version slated for release in November. Its direct-to-consumer e-commerce business is projecting a compound annual growth rate (CAGR) of nearly 100% through FY2020, with revenues reaching $14.8 million. CIIX is positioning itself as a global leader with a goal of becoming the largest Chinese publicly traded company in the legalized CBD market targeting the world’s Chinese-speaking communities (http://nnw.fm/yA6bN).
Another company seeking to make a difference in the rapidly expanding CBD marketplace of cannabis-related products is CV Sciences, Inc. (CVSI), a preeminent supplier and manufacturer of hemp-derived phytocannabinoids including CBD oil. The company plans to exhibit its PlusCBD Oil ™ product brand at the Natural Products Expo East September 14-16 in Baltimore, Maryland. The trade show brings together over 28,000 industry professionals and 1,400 exhibitors. CV Sciences’ product brand is sold at approximately 1,300 health food stores and continues to grow its shelf presence in various retail outlets across the county. In a news release, company spokesman Stuart Tomc said, “It’s evident that hemp-derived CBD products are doing better and growing faster than almost every other category in the supplement industry (http://nnw.fm/H2kId).”
Terra Tech Corp. (TRTC), a vertically integrated, cannabis-focused agriculture company, is also expanding its retail operations. Terra Tech Corp. operates multiple dispensaries as well as cultivation and extraction facilities in California and Nevada. Terra Tech CEO Derek Peterson said the company’s recent acquisition of Tech Center Drive Management LLC, which operates The Reserve OC medical cannabis dispensary in Santa Ana, California, represents another milestone.
“California has emerged as one of the United States’ leading legal cannabis markets, with adult-use planned to come online in 2018,” Peterson said in a news release. “Terra Tech will continue to identify opportunities to expand both its retail and cultivation capabilities in these core markets to drive forward our growth strategy and build value for shareholders (http://cnw.fm/h42vC).”
Medical Marijuana, Inc. (MJNA), the first-ever publicly traded cannabis company in the United States, announced that August 2017 was the company’s largest revenue month in its history. Its wholly owned subsidiaries Kannaway® and HempMeds® Mexico also experienced the best revenue month in their respective histories, Kannaway CEO Blake Schroeder said in a news release (http://cnw.fm/Evae6), noting the company’s plans to launch a series of new products in Q4 2017 as it gears up for its regional convention in Denver, Colorado, this fall. Expansion plans for entering the European market are expected to contribute to the company’s explosive growth, Schroeder added.
Making significant progress in its bid to be known as the world’s number one industrial hemp producer and exporter, HEMP, Inc. (HEMP) has appointed Dr. Robert Ian Bruck, director and founder of the North Carolina State University Environmental Technology Program, as Dean of Hemp, Inc.’s Hemp University. Bruck, who holds two doctorates and years of experience in the fields of plant pathology and ecology, will be responsible for the management and development of curriculum at The Hemp University. Educating not only the public but public policy makers about the business and scientific aspects of industrial hemp – from how to grow it to the many complexities of CBD – is a critical element of moving the cannabis industry forward., according to a company news release (http://cnw.fm/p1hbY).
While the demand for hemp-based cannabidiol has skyrocketed, so have the number of companies jumping into the market, Marijuana Business Daily reports (http://nnw.fm/7ENhH). There are now hundreds, if not thousands of hemp CBD companies flooding the market looking to take advantage of the profits to be made in the global cannabis industry. For companies like ChineseInvestors.com, which has been in business since 1999, capitalizing on the convergence of CBD and the nutrition and health products market in mainland China was a no-brainer.
In a news release (http://nnw.fm/OpHR2), Keevin Gillespie, newly appointed acting president of the company’s ChineseHempOil.com subsidiary, expressed his enthusiasm for the company’s future.
“As the many potential health benefits of hemp continue to be revealed through scientific research and development, I believe the Chinese community will embrace this rediscovered ancient remedy,” Gillespie stated. “I look forward to creating brand awareness and exposure for the Company’s ‘OptHemp’ product line, developing the Company’s network marketing division and generating significant new revenue streams for the Company in the coming year.”
1) Forbes http://nnw.fm/rv2xH
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