- 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://ibn.fm/HwnnS).
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://ibn.fm/BWRZo),
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://ibn.fm/nm8OP).
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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