LAS VEGAS, NV--(NewMediaWire - Oct 5, 2017) - mCig Inc.,
(OTCQB: MCIG), a leading distributor of innovative products,
technologies, and services for the global recreational and medical
cannabis industry is pleased to announce that the company has
signed an agreement to purchase land in Kern County, California,
expanding its asset base in preparation for California's January 1,
2018 "Green Rush."
Paul Rosenberg, CEO of mCig Inc., commented, "California is a
major emerging market for legal cannabis consumption, with
adult-use sales expected to begin in 2018. We were looking for the
right deal that makes sense for the company and its shareholders,
and it took us quite a few months, but we have finally taken the
first step in establishing a vertically integrated cannabis-focused
agriculture company. The company has since initiated the licensing
process and application for cultivation/production/distribution
licenses."
MCIG is expanding its business model to include cultivation,
production, and distribution. The proposed initial build out in
California will cover 50,000 square feet of greenhouse cultivation
space that can produce 1,600 lbs and generate conservatively $2.4m
a month in revenues.
The Company is also seeking the right opportunity to secure land
and licensing in Nevada and Arizona. MCIG views this strategic move
as part of the blueprint of what's to come. Expanding operations
horizontally will boost MCIG's impact on the market and provide
greater wealth opportunities for its shareholders.
Paul Rosenberg, CEO of mCig Inc., concluded, "This is a major
development for the company. We have all the resources necessary to
build a successful business; we have our own
construction/consulting division that will save us a lot of money
when we start the build out process; experienced growers on staff
that will help create a great line of MCIG products; and
marketing/sales division that will allow the company to push our
products to different areas of California. Building a successful
vertical integrated model will be the main focus of the company
moving forward."
About MCIG Group (OTCQB: MCIG)
Headquartered in Las Vegas, Nevada, mCig, Inc. (OTCQB: MCIG)
is a diversified company servicing the legal cannabis, hemp and CBD
markets via its lifestyle brands. mCig, Inc. is committed to being
the leading distributor of technology, products, and services to
fit the needs of a rapidly expanding industry. mCig, Inc. has
transitioned from a vaporizer manufacturer to industry leading
large scale, full service cannabis cultivation construction company
with its Grow Contractors division currently operating in the
rapidly expanding Nevada market.
mCig, Inc. also employs a world renowned tech team and has
recently entered the tech space to satisfy its evolving role in
technology and in keeping its growing following up to speed.
The company looks forward to growing its core competencies to
service the ancillary legal Cannabis, Hemp and CBD markets, with
broader expansion to take place once federal laws change. With over
seventy-five years of experience combined between the key players
that make up the Cannabis Grow Contractors Division, mCig Inc. is
proud to work with Cannabis Industry leaders and provide broad and
rounded solutions for legal growers nationwide.
For more information visit our websites:
www.mj.recipes
www.mciggroup.com
www.growcontractors.com
www.cannabizsupply.com
www.420jobsearch.com
www.vitaciggroup.com
www.marketaro.com
www.weedistry.com
www.420cloud.com
www.vitacbd.com
Safe Harbour
Any statements contained in this press release that do not describe
historical facts may constitute forward-looking statements as that
term is defined in the Private Securities Litigation Reform Act of
1995. Any forward-looking statements contained herein are based on
current expectations, but are subject to a number of risks and
uncertainties. The factors that could cause actual future results
to differ materially from current expectations include, but are not
limited to, risks and uncertainties relating to the Company's
ability to develop, market and sell products based on its
technology; the expected benefits and efficacy of the Company's
products and technology; the availability of substantial additional
funding for the Company to continue its operations and to conduct
research and development, and future product commercialization; and
the Company's business, research, product development, regulatory
approval, marketing and distribution plans and strategies.
This release contains a non-GAAP disclosure, EBIDTA, which
consists of net income plus interest expense, net, provision for
income taxes and depreciation and amortization. This term, as the
Company defines it, may not be comparable to a similarly titled
measure used by other companies and is not a measure of performance
presented in accordance with GAAP. The Company uses EBIDTA as a
measure of operating performance. EBIDTA should not be considered
as a substitute for net income.