ChineseInvestors.com, Inc. (CIIX) Seen Benefitting from Senate Committee Vote for Amendment Protecting Legal Cannabis

  • 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

More from NetworkNewsWire

Qualstar Corp. (NASDAQ: QBAK) is “One to Watch”

ProBility Media Corp. (PBYA) Recent Acquisitions, New Service Offerings Position Company as E-Learning Market Leader

About NetworkNewsWire

NetworkNewsWire (NNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) NetworkNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.

For more information please visit https://www.NetworkNewsWire.com

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer

NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com

Archives

Select A Month

Contact us: 212.418.1217