- Strategy is to expand its product line, leverage VitaMist’s branding and longevity, and utilize the company’s spray technology for a delivery system as a future for CBD consumption
- The LOI is with BCDBG, Inc., parent of VistaMist, for sales by CIIX to the global Asian market; the agreement would give CIIX rights to sell the brand’s organic vitamin spray line
- Under the agreement, BCDBG would also develop an exclusive and proprietary product line for CIIX that will include vitamin sprays and vitamins/CBD spray combinations
ChineseInvestors.com, Inc.’s (OTCQB: CIIX) LOI with BCDBG, Inc. for the global Asian community sales rights to organic VitaMist is not only expected to expand its consumer division; it also calls for development of an exclusive line giving CIIX vitamin spray as well as a vitamin/CBD spray technology. The result would be the growth of CBD products internationally for CIIX (http://nnw.fm/O4izc).
The timing of the LOI is seen as critical, CIIX said, because industry leaders believe that the final farm bill, and its provisions for the legalization of industrial hemp at the federal level, could be reached by the end of this year. In anticipation of the proposed agreement, as outlined in the LOI, CIIX has placed initial orders with BCDBG for VistaMist products.
In a news release, Warren Wang, CEO of CIIX, said, “We truly believe VistaMist’s innovative and effective delivery system is the future for CBD consumption.” CIIX’s CBD division, which includes CBD Biotech, Hemp Logic, Inc. and ChineseHempOil.com (http://nnw.fm/dRZ9k), is projected to achieve greater CBD product distribution in 2019. Prior, CIIX outlined plans to spin off its CBD division in the future.
VitaMist was awarded the first patent ever for a spray vitamin in 1985. Wang of CIIX said that this is an “exciting time for the global cannabis industry” because South Korea has become the first East Asian country to legalize marijuana for medical purposes. He is hoping other countries will do the same, such as Thailand. “We look forward to more opportunities such as this licensing offer as we expand our reach into (the) global industrial hemp industry,” Wang added.
CIIX sees CBD Biotech, its wholly owned foreign enterprise, delivering higher CBD product distribution in FY2019, both domestically and in China. It reported an 800 percent increase in product sales led by ChineseHempOil.com, Inc. in 1Q19. It had 70 percent higher YOY sales in 1Q19 (http://nnw.fm/bH36s).
Wang continued, “CBD hemp sales in China continue to be the foundation of our focus. Our subscription services will continue to provide a steady revenue stream along with the new educational services covering the cryptocurrency market… With increased marketing resources devoted to our industrial hemp-based CBD products, we anticipate a productive fiscal year 2019.”
For more information, visit the company’s website at www.ChineseInvestors.com
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