CBD Products Play Major Role in the Legal Cannabis Industry.
NEWS PROVIDED BY: FinancialBuzz.com :prnewswire
NEW YORK, August 3, 2017 /PRNewswire/ --
A research report published by the Hemp Business Journal and Vote Hemp, estimates that the total retail value of hemp products sold in the U.S. in 2016 was $688 million. The growth of Hemp CBD, a category with $130 million in sales and growing at a 53% AGR have contributed significantly to the $688 million in total sales according to the report. The hemp industry is projected to reach a value of $1.8 billion in sales by 2020 and the most popular products being hemp food, body care, and CBD-based products. In total, sales of Hemp CBD products boosted the industry to a five year 22% CAGR. ChineseInvestors.com, Inc. (OTC: CIIX), mCig, Inc. (OTC: MCIG), SinglePoint, Inc. (OTC: SING), United Cannabis Corp. (OTC: CNAB), Terra Tech Corp. (OTC: TRTC)
Research by New Frontier data indicates that cannabis stocks significantly outperformed major indexes in 2016. "In the run up to the election, stocks increased by 207.8% and continued to rise, even with an uncertain future under the new administration. While recent comments by the [presidential] administration did have an initial dampening effect on the market, we have seen continued growth relative to Q4 2016 whereby cannabis stocks are still outperforming other sectors," stated Giadha Aguirre De Carcer, CEO of New Frontier Data.
ChineseInvestors.com, Inc. (OTCQB: CIIX) July 31st announced that, "its wholly-owned subsidiary, ChineseHempOil.com, Inc., has established a Hemp Education Center in San Gabriel, California. The Company's club-style Hemp Education Center is at the center of San Gabriel's lively and growing Chinese-speaking community. Through its education center, ChineseHempOil.com, Inc. aims to provide valuable information to those that want to learn more about the potential health benefits of non-industrial hemp and hemp-derived CBD, while also increasing general awareness about non-industrial hemp which has roots in ancient Chinese medicine."
"I am delighted about the possibilities of our new Hemp Education Center," says Warren Wang, Founder and CEO of CIIX. "In recognition of the unprecedented opportunities in the legal non-industrial hemp industry, CIIX expanded its business to capitalize on the growing demand for hemp health products. Our new club-style Hemp Education Center will build awareness of the hemp industry and our brand while laying the groundwork for ChineseHempOil.com to be recognized as the premiere name in hemp products within the Chinese-speaking market.
Events and activities offered at the Hemp Education Center will work in conjunction with CIIX's local advertising presence as part of its broader strategy to solidify brand recognition and help spread the word about the Company's hemp products and hemp-derived CBD products. "We expect that community-centered education and outreach about the potential benefits of hemp and hemp-derived CBD will successfully drive demand for our products and raise the visibility of our unique services and products, especially among the Chinese-speaking population," concludes Wang.
mCig, Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp, and CBD markets. Recently, the company announced the extension of its offerings to include merchant processing. mCig has created a new entity, partnering with a merchant provider with over a decade of experience, allowing the company to offer a comprehensive, seamless and secure payment solution through a trusted source. mCig's merchant service offers a simple, direct, U.S.-based solution, with the capability to accept credit cards online and at participating dispensaries. Merchant processing is offered as low as 5.95% for ecommerce and even lower for dispensaries accepting Visa and MasterCard.
SinglePoint, Inc. (OTC: SING) on July 18th, the company announced that it has hired a cryptocurrency expert to spear head the company's initiatives to develop a payments solution for high-risk customers and the cannabis market. The company is aiming to bring a solution to test within 60 days. The company's joint venture with First Bitcoin Capital Corp will help drive this timeline and bring the solution full circle from customer to dispensary. SinglePoint and First Bitcoin Capital will work together to drive a consumer first approach. By enabling the consumer to acquire the currency first it will make for an easier transaction once at the point of sale. SinglePoint has also hired Turner, Stone and Company to finalize the company's 2016 financial audit to continue its progress toward up-listing to the OTC QB Markets.
United Cannabis Corp. (OTCQB: CNAB) is a pioneer in the application of cannabinoids for medical applications and is building a platform for designing targeted therapies to increase the quality of life for patients around the world. On July 20th, the company announced the acquisition of a majority share of Prana Therapeutics, Inc. ("PTI"), a clinical stage biotechnology company developing Polymolecular Botanical therapeutics for the oncology, neurology, and orthopedic markets. Prana Therapeutics is a biotech company focused on developing targeted therapeutics for prevention of the negative side effects of chemotherapy, management of rheumatoid arthritis, and treatment of brain cancer.
Terra Tech Corp. (OTCQX: TRTC) is a vertically integrated cannabis-focused agriculture company. On June 29th, the company announced its Dual Use Marijuana business licenses have been approved by the State of Nevada Department of Taxation. This approval allows all four of the Company's Blüm cannabis dispensaries in Nevada to commence sales of cannabis for adult-use, starting July 1, 2017. As one of the medical cannabis companies granted approval to expand into the adult-use market, Terra Tech can now serve the needs of both medical patients and adult use customers alike in the same facility. This represents a major expansion of the Company's potential customer base which also includes the 40+ million tourists who visit the Las Vegas area, and the almost five million tourists who visit Reno, annually.
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