VitaCig Announces FINRA Approval and Shareholder Update
BEVERLY HILLS, CA–(Marketwired – Jul 8, 2015) – VitaCig, Inc. ( OTC PINK : VTCQ ) is pleased to announce that the company’s common shares have been approved for electronic quotation on the OTC Bulletin Board. The Financial Industry Regulatory Authority (“FINRA”) approved the request as submitted in Form 15c2-11.
Approval of the Form 15c2-11 allows VTCQ to be listed on OTC Markets, making the Company stock more attractive to potential investors and increasing visibility within U.S. equity markets.
CEO Al Santos has completed his reformulation of the organic non-nicotine VitaStik line, including seven e-liquid flavors and the new VitaCig CBD-infused flavors. As VitaCig shifts from primarily research and development to a more sales-focused organization, Santos will be stepping down as chief executive officer, and Maury Winnick, a veteran retail executive and current vice president of global sales, will be stepping in as interim CEO of VitaCig. Winnick will concentrate on increasing sales of the new improved VitaCig and VitaStik lines as well as pursuing potential acquisition candidates of VitaCig in the medical cannabis, pharma and technology sectors. As a majority shareholder and master distributor of VitaCig’s product line, mCig, Inc. (MCIG) provides its management resources to VitaCig and has targeted many ready-to-market and extremely innovative products that could quickly benefit from mCig’s existing financing and distribution contacts and expertise.
“I have enjoyed creating new formulations and branding for VitaCig and am now pleased to be transferring the reins to mCig’s new executive body, which has transformed both companies over the last 4 months,” said Santos. “It has taught me that sales must be the main driver of any business as well as innovations, so it’s with great confidence in Maury’s experience that he and the rest of the team at mCig are well positioned to reinvigorate and reorganize the sales of VitaCig and VitaStik.”
In addition to its own successful CBD line, mCig will be using its experience as a master distributor to market and sell the new VitaCig CBD oils online and at brick & mortar outlets in the United States. Currently, VitaStik’s largest market is outside the U.S., and the Company has assigned a new Regional Sales Manager of Europe to service and expand existing accounts in Germany and to also oversee new accounts in the United Kingdom, Austria, Switzerland and Spain. The certification and approval of VitaCig’s product lines in new countries will be much quicker and easier since this European manager successfully achieved European Union approval in Germany and will use his knowledge to bring the new CBD VitaCig and non-nicotine VitaStiks into more of the E.U.
VitaCig also signed a new Regional Sales Manager of Asia, which complements the existing South Korean initiative and will initially target the Philippines and Japan. This manager was heavily involved in the South Korean approval process and will use that experience as the Company expands VitaStik into additional Asian markets.
VitaCig has no debt except to mCig and does not plan to grow through toxic financial instruments. All employees, including the CEO, are compensated on performance with a bonus system for exceeding sales targets. mCig will continue to support and lend some of its management functions to VitaCig until the suitable buyout candidate is chosen.
About VitaCig, Inc. VitaCig, Inc. ( OTC PINK : VTCQ ) is a technology company harnessing mobile vaporization technology for medical delivery applications. The company owns, manufactures, and distributes the VitaCig®, a nicotine-free device.
VitaCig, Inc. is disrupting both the traditional tobacco industry and the emerging personal vaporizer market by appealing to the 1.2 billion adults globally that smoke cigarettes. VitaCig® accomplishes this by providing a nicotine- and tobacco-free alternative that may assist in harm reduction.
About mCig, Inc. mCig, Inc. ( OTCQB : MCIG ) operates as a Master Distributor for cannabis-related products; identifies and capitalizes on opportunities in the pharma sector of the cannabis industry; provides financing for innovative cannabis-related businesses; and creates technological solutions and applications for the industry. The mCig E-Cigarette and Portable Vaporizer Division provides a full range of smoking products for retailers and distributors, from disposable smoking devices to high-end heirloom pieces. The mCig CBD Hemp Oil Division houses the growing Chill product line and related nutraceuticals based on natural compounds found in cannabis and hemp plants. The mCig Software Division provides growers, dispensary owners, retailers, and others within the cannabis industry the software infrastructure they need to do business. The mCig Construction Division provides turnkey solutions for new and existing cultivators that allow for tightly controlled optimized growing environments. The mCig Technology and Consulting Division provides stakeholders who want to enter the cannabis industry, or want to improve their existing operations, the opportunity to access and capitalize on a vast pool of industry experience. The company owns the mCig and Vapolution brands, and has a 47% stake in VitaCig (VTCQ), makers of the VitaStik, a disposable vitamin vaporizer. The company is headquartered in Beverly Hills, California.
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.