ChineseInvestors.com, Inc. (OTCQB: CIIX) will return to its roots as a financial consultant and a specialist in cryptocurrency, especially bitcoin, as it spins off its hemp assets into a private company. In a news release (http://nnw.fm/ux18M), Paul Dickman, CFO of CIIX, said, “This is a great time to spin off CIIX’s CBD focused assets as we continue to explore new ways to expand its core financial services business, including its recent move into the cryptocurrency and blockchain technology industry.”
CIIX has in the past succeeded as a diverse company with multiple-focuses, but, with this spinoff, it can now concentrate on its core skills in brand building for startups and financial marketing for its clients.
The San Gabriel, California-based company specializes in financial education and marketing for the global Chinese-speaking investment community. It has an interest in the growth of cryptocurrency with a daily video newscast from the NYSE daily titled ‘Bitcoin MultiMillionaire’ and hosts a bitcoin ATM in the lobby of its San Gabriel, California, headquarters.
Following the planned spinoff, CIIX intends to focus on those interests while giving its shareholders a special dividend. They may exchange four shares of CIIX common for one share in the new company, which consists of CIIX’s hemp-related assets. These include wholly owned foreign enterprise CBD Biotechnology Co., Ltd. and U.S.-based wholly owned subsidiaries Hemp Logic, Inc. and ChineseHempOil.com, Inc.
The four-for-one exchange of shares will be made effective on May 31, 2018, the date of the spinoff. The new company will initially be private, but CIIX has announced plans to bring the new company into the public market in the 12-18 months that follow (http://nnw.fm/Keo8c).
For more information, visit the company’s website at www.ChineseInvestors.com
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