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NEW YORK, August 9, 2017 /PRNewswire/ --
According to a research by Arcview Market Research, CBD and legal cannabis products are forecast to reaccelerate in the beginning of 2018. The sales of products for legal recreational use will increase in Canada, California, and Massachusetts, along with medical sales in Florida. This growth will push the $6.7-billion market of 2016 at a robust 27% CAGR to $22.6 billion in 2021. According to the report, the 20+% annual growth rate is likely to continue for many years past 2021, as more states and countries legalize cannabis. ChineseInvestors.com, Inc. (OTC: CIIX), Hemp, Inc. (OTC: HEMP), Terra Tech Corp. (OTC: TRTC), American Cannabis Company, Inc. (OTC: AMMJ), OWC Pharmaceutical Research Corp. (OTC: OWCP).
A significant portion of the total legal cannabis market is the CBD market. According to Hemp Business Journal, the total retail value of hemp products sold in the U.S. in 2016 reached $688 million, while the growth of Hemp CBD contributed significantly to the total sales. Sean Murphy, the Founder and Publisher of Hemp Business Journal, said, "We estimate the hemp industry will grow to $1.8 billion in sales by 2020, led by hemp food, body care, and CBD-based products. The data demonstrates the hemp industry is growing quickly at 22% five year CAGR and being led by food and body care products, with Hemp CBD products showing a 53% AGR."
ChineseInvestors.com, Inc. (OTCQB: CIIX) announced earlier this week that it has appointed Keevin Gillespie acting President of its wholly-owned subsidiary, ChineseHempOil.com, Inc., effective immediately. Mr. Gillespie will report directly to CIIX CEO, Warren Wang, and will be responsible for overseeing new business development, marketing and company operations throughout the North American market. Mr. Gillespie's initial focus will be on promotion and branding of the Company's newly launched health product line, 'OptHemp', which will be marketed through multiple sales channels, including online sales, retail sales, and third party distribution relationships with other health product retailers including acupuncturists, spas, chiropractic centers, etc. Mr. Gillespie is also spearheading the development of the Company's network marketing division which is in early stage development.
"I'm honored to serve as the President of ChineseHempOil.com, Inc.," says Mr. Gillespie. "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. 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."
"We are excited to name Keevin Gillespie as the President of ChineseHempOil.com, Inc.," says Wang. "I have known Mr. Gillespie for over 20 years. Early on, he worked as Vice President of sales for the Company and was integral in helping me to build CIIX into what it is today. I've known Mr. Gillespie to demonstrate remarkable influence and motivation in his management style, which is why I hand picked him for this leadership position with ChineseHempOil.com, Inc. Mr. Gillespie is also a strong recruiter with extensive sales management experience, and an aptitude for business development. Most importantly, Mr. Gillespie is passionate about our 'OptHemp' product line and about the development of a network marketing division. I am confident in his ability to oversee the operations of ChineseHempOil.com. With the appointment of Mr. Yun and Mr. Gillespie, I can dedicate my attention to the Company's core financial services/media business. Our US stocks live video platform will continue to deliver real-time market commentary, investing highlights, stock analysis and trading callouts to our paid subscribers. In addition, we will continue to develop and improve the live video platform to attract more analysts and to include more trading varieties, including options, futures and forex."
Hemp, Inc. (OTC: HEMP) updated shareholders late 2016, that its wholly owned subsidiary, Industrial Hemp Manufacturing, LLC, in Spring Hope, NC, has signed a Letter of Intent with BioRegen Innovations Cooperative, a cooperative enterprise of farmers, industry experts and seed breeders. According to the signed LOI, Industrial Hemp Manufacturing, LLC will purchase the raw hemp that is to be harvested from BioRegen's land in eastern North Carolina, approximately seventy-five miles from Hemp, Inc.'s 70,000 square foot multi-purpose industrial hemp processing facility in Spring Hope, North Carolina. The industrial hemp crop is to be grown on between 1,000 and 1,500 acres of land and harvested toward the end of next year, 2017.
Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, and MediFarm LLC. Blüm's retail and medical cannabis facilities provide the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions as well as premium cannabis to the adult-use market in Nevada. Yesterday, Terra Tech Corp. announced its second quarter 2017 financial results for the period ended June 30, 2017.
American Cannabis Company, Inc. (OTCQB: AMMJ) offers end-to-end solutions to existing and aspiring participants in the cannabis industry. American Cannabis Company develops and owns a portfolio of branded products including: The Satchel, SoHum Living Soils, The Cultivation Cube and The High Density Cultivation System. On July 19th, the company announced it has secured its second client in the state of Arkansas. ACC will initially provide strategic planning and pre-licensing solutions for this new client, which include operational planning activities, facility conceptual design work and state application completion. ACC expects to leverage this contract to secure additional revenues through long-term consulting agreements and potential future sales of ancillary products.
OWC Pharmaceutical Research Corp. (OTCQB: OWCP) announced that its wholly-owned, Israel-based subsidiary, One World Cannabis Ltd. (OWC), has filed a patent application with the European Union Patent and Trademark Office for its active cannabinoid-based psoriasis topical cream. Commenting on the filing of the patent application, Mr. Mordechai Bignitz, Chairman and CEO of OWC Pharmaceutical Research, stated, "Our primary short-term objective is to introduce our topical cream for skin conditions including, most importantly, psoriasis to the market. Our necessity to fully protect our intellectual property limited our ability to provide potential customers and partners with the required data for their due diligence and review. Our proprietary data includes specifics regarding the formulation of the topical cream, consisting of cannabinoids and other compounds that facilitate the efficient delivery of the cream to infected areas. The filing of this European patent application also enables us to fully discuss with potential customers and partners the requirements for manufacturing the cream in accordance with national and local regulations. It also enables us to provide potential customers and partners with the manufacturing requirements, based on the highest-level of international standards and protocols, and includes specifics regarding the manufacturing process including required equipment and systems."
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