- Unclear whether amendment will survive in final appropriations bill, but Congressional vote sends message to Attorney General Jeff Sessions
- CIIX is expanding in global market with online cannabidiol store in Shanghai, China, and brick-and-mortar unit to open in San Gabriel, California
- Consilium Global Research estimates that CIIX will outperform cannabis market to achieve revenues of $14.8 million by FY 2020
ChineseInvestors.com, Inc. (OTCQB: CIIX) and other cannabis companies were overjoyed by the July 27 affirmative voice vote by the Senate Appropriations Committee to approve an amendment to a “2018 Commerce, Justice and Science Bill” that bars the federal government from using federal funds to investigate medical marijuana cases within states that have legalized medical marijuana. It is unclear whether the Rohrabacher-Blumenauer amendment will be part of the final appropriations bill.
However, the Senate sent Attorney General Jeff Sessions a clear message in passing this amendment, defying his letter to Congress urging that the amendment not be passed. A total of 29 states and the District of Columbia have made medical marijuana legal, according to ProCon.org (http://nnw.fm/CI0oY). In addition, eight states and DC have made recreational use of marijuana legal. To CIIX and other legal cannabis companies, that vote was seen as an important victory enabling them to “solidify their footholds in the marketplace,” according to one published research article (http://nnw.fm/SL6Cv).
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