BEVERLY HILLS, CA - (NewMediaWire) - September 23, 2015 - mCig, Inc. (the "Company") (OTCQB: MCIG), a leading distributor of innovative products, technologies, and services for the global medical and legal recreational cannabis industry, today provided its shareholders with a mid-quarter update.
Revenue for Q2 is almost surpassing last quarter's totals with forty days remaining.
MCIG has been actively bringing new brands into their Master Distribution portfolio in Q2:
- Just this month, the company signed a Master Distributorship Agreement with Mad Hatter Coffee and Tea Company. MCIG and Mad Hatter will create a special formula of Coffee and Tea with CBD, as well as a Mad Hatter vape pen with CBD and THC (www.madhattercoffeeandtea.com).
- In late August, MCIG signed an agreement with NY-based Blanks Inc., a maker of sophisticated and convenient roll-your-own accessories (www.blanksprerolled.com).
- MCIG signed a Master Distributorship Agreement with VitaCig Inc. The two companies will together develop and distribute a line of VITA CBD products.
- As previously announced, MCIG will partner with Emotek Labs to market the Emotek line of extractors and will focus on development, marketing, and distribution of an exclusive line of "High Quality" CBD & THC oils and ancillary products.
Additionally this quarter, MCIG started working on its own branded line of CBD products which will be announced soon.
"MCIG's goal is to become the premier distributor in the cannabis industry through its Master Distributor sales approach," stated Paul Rosenberg, CEO of mCig Inc. "Together with our partners, we are creating a line of products under a strong MCIG brand. This is a very important step in the continued growth of our company."
MCIG's grow division is also seeing great traction in Q2:
- The company is in the engineering phase (phase 1 of 2) for a 10,000 square foot facility in Maryland, with an estimated construction cost of $513,000.00 per phase.
- MCIG's grow division is the sole bidder on a 41,000 square foot facility in Nevada with a total estimated construction cost of $2,500,000.00.
- The grow division was just given the "go ahead" to start engineering on a 10,000 square foot cultivation site in Southern California, including a warehouse conversion with 24 interior pods on Native American land.
- MCIG is gaining traction with our recently announced MCIG CannaPods 2.0 turn-key pods. The company is drafting an initial order for 3 pods, with 37 more to follow for a total of 40 pods.
"It is key for us not to lose sight of the vast amount of smaller, scalable growers we cater to," added Filene Lehman, CEO of CannaPods. "But having successfully penetrated the larger grow arena this early on in our path is an incredible accomplishment and a testament to our system and team."
About mCig, Inc.
mCig, Inc. (OTCQB: MCIG) is committed to being the leading distributor of technology, products, and services for the global medical and legal recreational cannabis industry. The Company's Master Distributor sales approach allows MCIG to partner with or acquire best-of-breed companies to serve as exclusive sales representatives, distributing their products through MCIG's multiple channels and sub-distributors throughout the United States, Europe, United Kingdom, and Asia. MCIG focuses sales efforts on growers, consumers and dispensaries, and provides a complete line of products, technology, and services, including turnkey growing environments; security services; software and information technology; consulting services; financing and more. MCIG maintains its roots by offering top selling CBD Vape lines and CBD products. The company is headquartered in Beverly Hills, California. Follow MCIG on Twitter at @MCIGs.
Safe Harbor Statement
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.