- CIIX board has agreed, by the end of February 2018, to spin off its consumer products division in the U.S. and China, including its hemp oil assets and its new wholesale alcohol distribution division
- CIIX plans to register ChineseHempOil.com, Inc. as a separate publicly-traded company to be listed on the OTCQB
- Warren Wang, CEO of CIIX, said that the move will allow these businesses to grow in their respective markets
ChineseInvestors.com, Inc. (OTCQB: CIIX) is spinning off its wholly-owned foreign entity, CBD Biotechnology Co., Ltd., and its wholly-owned subsidiary, ChineseHempOil.com, Inc., to allow itself to focus on its new cryptocurrency division and its core financial education division, the company announced (http://nnw.fm/fYy9X).
In a news release, Warren Wang, CEO of CIIX, said, “We are excited to announce our intention to spin off CBD Biotechnology and ChineseHempOil.com, Inc., as we believe the existing business lines and the new acquisitions in China, secured by CEO (of CBD Biotechnology Co., Ltd.) Summer Yun, will allow these entities to continue to grow in their respective markets, while bringing new value to the company’s existing shareholders. The details about the value to the company’s existing shareholders will be announced in the coming weeks.”
CIIX is a diverse educational and consulting company for the Chinese-speaking community in China and the U.S. Subscriptions and investor relations have provided the company with key revenue streams. In addition to educational coverage of bitcoin and other cryptocurrencies, CIIX has a core financial education and consulting business.
It has committed itself to cryptocurrency education and active involvement. It broadcasts a daily video from the NYSE titled ‘Bitcoin MultiMillionaire’. It has also recently reached agreement to host a bitcoin ATM in the lobby of its headquarters in San Gabriel, California. The unit it hosts has been installed by Blockchain BTM LLC. The start of futures trading in bitcoin on the Chicago Mercantile Exchange by CBOE Global Markets, Inc., according to a MarketWatch report (http://nnw.fm/RXhm1), may attract even more investors and simplify the process of gaining exposure to bitcoin for both retail and institutional investors. CNN reported that the new futures trading has spurred even more interest from the investor community (http://nnw.fm/ifM94).
Yun added, “The decision to expand CBD Biotechnology’s Chinese Consumer Division to include baijiu liquor sales is part of a strategic plan to increase revenues in the coming year. By aligning with China GuiZhou HanTai Wine, Inc., CBD Biotechnology has partnered with a proven leader in the Chinese baijiu market.” Baijiu is a Chinese alcoholic beverage made from grain.
“In addition to distribution rights, the agreement between CBD Biotechnology and China GuiZhou HanTai Wine, Inc., affords CBD Biotechnology the opportunity to launch its own brand of baijiu in the future,” Yun added. CBD Biotechnology has a huge opportunity to gain significant market share as ultra-premium baijiu is expected to jump 16% in volume per year over the next five years as the number of high-wage earners in China soars.
As part of the transaction, CBD Biotechnology Co., Ltd. will acquire a Chinese Wholesale Alcohol License, expanding its Chinese consumer division to include the distribution of baijiu. On November 7, 2017, the Shanghai Wine Monopoly Bureau issued the license for a three-year term to CBD Biotechnology.
CBD Biotechnology has also entered an agreement with China GuiZhou HanTai Wine, Inc., to distribute its brand of baijiu, Yantai 1985, and partnered with Jinri Toutiao (translation: Today’s Headlines), a popular Chinese mobile app. Jinri Toutiao is the first broad news aggregator in China, featuring real time news, games, movies and music. It has more than 600 million registered users. It will be used for sales and marketing by CBD Biotechnology.
For more information, visit the company’s website at www.ChineseInvestors.com
More from CryptoCurrencyWire
CryptoCurrencyWire (CCW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CryptoNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CCW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CCW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CCW brings its clients unparalleled visibility, recognition and brand awareness. CCW is where news, content and information converge.
For more information please visit https://www.cryptocurrencywire.com