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Developments in the Cannabis MarketNEW YORK, January 13, 2017 /PRNewswire/ -- The 2016 election resulted in a big win for the legal cannabis industry, with several states voting in favor of legalizing cannabis for recreational use, including California, the largest Cannabis market in the U.S. In addition, the state of Colorado crossed the $1 billion mark in annual cannabis products sales. The ArcView Group has published an updated research report on January 3rd, according to which the legal cannabis sales in the U.S. last year reached $6.7 billion, a growth of 30 percent from 2015. Sales are projected to increase to $20.2 billion by the year 2021 representing a 25 percent compound annual growth rate. ChineseInvestors.com Inc. (OTC: CIIX), CV Sciences Inc. (OTC: CVSI), Medical Marijuana Inc. (OTC: MJNA), Cannabis Sativa Inc. (OTC: CBDS), Rocky Mountain High Brands Inc. (OTCQB: RMHB) Adam Bierman, Chief Executive Officer of cannabis investment firm MedMen Capital believes that the City of Angels will steal the spotlight from the Mile High City. Forbes has reported that according to Bierman, by some estimates, Los Angeles's medical marijuana market alone is already close to $1 billion, easily overshadowing Colorado's entire market. The city is expected to pass an ordinance in 2017 that will clear the path for a proper licensing program and open up the recreational market. Bierman said that capital is flowing into the area for local ventures as investors begin to smell money in the emerging market. ChineseInvestors.com (OTCQB: CIIX) is a financial information website for Chinese-speaking investors in both the U.S. and China. Recently the company revealed that it is launching the world's first cannabidiol (CBD) health products online store in the Chinese Language by the end of January 2017 under the domain name http://www.ChineseCBDoil.com. Yesterday, ChineseInvestors.com revealed that the new headquarters of ChineseCBDoil.com is to be located in Block E, 27th floor, Industrial Building, Shanghai, China. Besides, the company is preparing to set up a wholly-owned subsidiary in the Shanghai Free Trade Area and it will focus exclusively on the wholesale and retail business of supplying CBD oil health products to the nearly 2 billion Chinese people all over the world. ChineseCBDoil.com is expected to go live and online at the end of January 2017. CEO of ChineseInvestors.com Warren Wang said, "We believe it is a wise move to have http://www.ChineseCBDoil.com located in Shanghai, China. China has a consumer base. CIIX is very excited to be the world's first listed Chinese company promoting CBD health products that will help Chinese people improve their health status." Mr. Wang further remarked, "Our cannabis 'Yelp' style mobile application has just completed its design of Version 1.0. This is not only the first mobile application that provides a platform for Chinese people to review and discuss various cannabis products, but also the first marijuana social media mobile application designed for Chinese speakers. In accordance with our plan, the online application we submitted to the Apple store has already been approved. CIIX will continue to recruit employees in the new Shanghai headquarters to help further increase the data capacity and enhance our users' experience of the new cannabis 'Yelp' style App." CV Sciences Inc. (OTC: CVSI) is in development of cannabidiol-based potential FDA approved drugs. CV Sciences acquired CanX Inc., a pre-clinical drug developent company focused on significant unmet medical needs. The initial drug candidate, CVSI-007 is a chewing gum containing nicotine and synthetic cannabidiol to support cessation of smokeless tobacco use and addiction. The company currently operates in two divisions, the Pharmaceuticals and Consumer Products. Medical Marijuana Inc. (OTC: MJNA) and its subsidiary HempMeds® Brasil announced that the company has signed into a distribution partnership with leading global wholesale distributor of pharmaceutical products, Paragon HealthCare BR. This move is to secure the Brazilian market and expand access to cannabidiol in the country. "We look forward to exploring the new horizons that come from this partnership," said Chief Executive Officer of Medical Marijuana Inc., Dr. Stuart Titus. "We thank Paragon HealthCare BR for joining us in taking a lead in this continually developing marketplace. We cannot grow without innovation and we cannot move forward without a vision. Our distribution partnership with Paragon HealthCare BR is an indication that we will continue to progress and expand our reach both on domestic fronts and abroad." Developer and promoter of natural cannabis products, Cannabis Sativa Inc. (OTC: CBDS) subsidiary was awarded Patent PP27,475 for a Cannabis Plant named Ecuadorian Sativa and deemed 'CTA'. Equadorian Sativa has been shown in laboratory testing by Steephill Labs to have a Limonene level that is extraordinarily high at a level of 4.53, 10 to 20 times the usual range. This sets Equadorian Sativa apart from other varieties in its odor, the effects on mood and mentation and its medical qualities. The Company's President David Tobias said, "This is a major accomplishment and is a tribute to the foresight and perseverance of management to solidify Cannabis Sativa's contribution to the maturing Cannabis industry." Rocky Mountain High Brands Inc. (OTCQB: RMHB) specializes in developing, manufacturing, marketing, and distributing high-quality, health conscious, hemp- and CBD-infused food and beverage products. Recently, the company has entered into an agreement with Beasley Media Group, Inc. to provide geofencing services to the company to drive customer traffic to retailers who carry Rocky Mountain High Beverages in their stores. The company will bring this new targeted marketing to the Southern California market through its partnership with Statewide Beverage Company. Please SIGN UP NOW at http://www.FinancialBuzz.com To Receive Alerts on Trending Financial News from all these companies. 'The Latest Buzz in Financial News' Subscribe Now! 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