- Unclear whether amendment will survive in final appropriations bill, but Congressional vote sends message to Attorney General Jeff Sessions
- CIIX is expanding in global market with online cannabidiol store in Shanghai, China, and brick-and-mortar unit to open in San Gabriel, California
- Consilium Global Research estimates that CIIX will outperform cannabis market to achieve revenues of $14.8 million by FY 2020
ChineseInvestors.com, Inc. (OTCQB: CIIX) and other cannabis companies were overjoyed by the July 27 affirmative voice vote by the Senate Appropriations Committee to approve an amendment to a “2018 Commerce, Justice and Science Bill” that bars the federal government from using federal funds to investigate medical marijuana cases within states that have legalized medical marijuana. It is unclear whether the Rohrabacher-Blumenauer amendment will be part of the final appropriations bill.
However, the Senate sent Attorney General Jeff Sessions a clear message in passing this amendment, defying his letter to Congress urging that the amendment not be passed. A total of 29 states and the District of Columbia have made medical marijuana legal, according to ProCon.org (http://nnw.fm/CI0oY). In addition, eight states and DC have made recreational use of marijuana legal. To CIIX and other legal cannabis companies, that vote was seen as an important victory enabling them to “solidify their footholds in the marketplace,” according to one published research article (http://nnw.fm/SL6Cv).
CIIX has a goal of becoming the primary Chinese medical cannabis publicly traded company. To that end, the firm has been aggressive in focusing on research and development as well as distribution of cannabidiol-based (CBD) products globally to the Chinese-speaking population.
In China, sales of CBD is legal, while marijuana is not. CIIX has an online store in the free trade zone of Shanghai selling CBD-based products. It has also established a wholly owned subsidiary, CBD Biotechnology Co. Ltd., which plans to market the CBD Magic Hemp Series. The company has filed with the China Food and Drug Administration (CFDA) for this line of non-industrial hemp-infused skincare products. The line is anticipated to launch in August/September 2017.
CIIX believes itself to be a first mover in China, a consumer market of two billion consumers. In other moves, it has incorporated CBD Technology in British Columbia, Canada. CBD Technology will distribute, research, and sell hemp-based CBD plus beverages and food products.
In in its home market of San Gabriel, California, CIIX is preparing to open its first brick-and-mortar store to, in part, distribute its new OptHemp health products line. It will be among the first stores to sell the line.
Consilium Global Research projects that CIIX will reach $14.8 million in revenue by FY 2020 and said that the CBD market will grow by a compound annual growth rate (CAGR) of 80% to $2.1 billion by 2020 (http://nnw.fm/9HCIe). The research firm believes that CIIX will outgrow the market with a 100% CAGR in that time period. It also believes that CIIX has an advantage due to the fact it is well ingrained with native Chinese speakers globally.
For more information, visit the company’s website at www.ChineseInvestors.com
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