- CIIX
recently hired Boustead Securities LLC as underwriter for the planned IPO
of its wholly owned subsidiary, CBD Biotech
- Warren
Wang, CEO of CIIX, said that the move is part of its strategic plan, as
CIIX looks to return to its root activities in education and consulting
with companies seeking to raise profile within the investment community
- Boustead
Securities would serve as IPO sponsor and underwriter, CIIX said
ChineseInvestors.com, Inc.’s (OTCQB: CIIX) retention of
Boustead Securities LLC for its anticipated IPO of wholly owned foreign
enterprise CBD Biotech will enable the company to focus on its revenue base in
video and online education, investor relations services and subscription
activities. At the same time, CIIX plans to secure a separate exchange listing
for CBD Biotech (http://ibn.fm/aS1BM).
In a news release, Warren Wang, CEO of CIIX, said,
“Additionally, we believe that listing on a national exchange speaks to the
quality of CBD Biotech, will provide us with market visibility and access to
capital, and further support our growth strategy.”
Dan McClory, Boustead Securities’ managing director, head of
China and head of equity capital markets, was optimistic. “We believe CBD
Biotech can potentially gain a first mover advantage in the Chinese CBD market
and could be well received in the public markets,” he noted in a news release.
CIIX sees CBD Biotech 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. during its
fiscal first quarter of 2019. CIIX recorded 70 percent higher YOY sales for the
same fiscal quarter (http://ibn.fm/cGO9x).
For more information, visit the company’s website at www.ChineseInvestors.com
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