HENDERSON, NV–(Marketwired – Apr 13, 2016) – mCig, Inc. ( OTCQB : MCIG ) Grower Services Division (GSD) proves again why their modular system is working in Nevada, with the signing of contracts with Sin City Cultivation (SCC) and Tetramed Holdings Corporation (THC). SCC and THC’s Site Plan is already approved and excavation will start immediately with an estimated four month completion date for the 4,500 square foot Phase 1 state of the art cultivation center. The Multi-Vertical Tier Design will provide just under 10,000 square feet of a Canopy Footprint.
The gross revenue generated by GSD under Phase 1 is $240,000. The project is divided into two phases, which sits on four acres: The additional phase includes a 40,000 square foot greenhouse footprint that will be constructed over the next eight months, with an additional value of $1,750,000.
“The business expansion in Nevada has been incredible, with multiple projects underway and in the pipeline,” says Jori Olson, Vice President of GSD sales. “We provide all the solutions necessary for growers to succeed. mCig is proud to have another long term project in its pipeline with a group like SCC and THC and their second phase greenhouse extension.”
GSD plans to further SCC and THC’s vision to convert an existing warehouse facility into a successful indoor grow production, and then utilize the surrounding land to construct fully engineered greenhouses. Greenhouse technologies are a truly unique depth of cultivation expertise and an aspect to the industry. MCIG’s GSD is one of the first to market and in prime position to dominate this business channel in the future. Unlike any other group, MCIG’s Grower Services Division is a full service operation, maximizing land usage and fully developing the property footprint, a key solution in the GSD scope of work.
“I’ve been working with the MCIG GSD team for almost a year now to get to this point where we finally are ready to break ground and start growing in the next four months,” says Daniel Caravette, CEO of Sin City Cultivation. “MCIG has proven they can lead the project in all aspects of design, development, and building construction and holds a unique group of local contractors to perform for the best price.”
MCIG has already started construction in 2016 on a full pipeline of projects and provided guidance previously, and looks forward to more project announcements this year.
About mCig, Inc.:
Headquartered in Henderson, NV, mCig, Inc. ( OTCQB : MCIG ) is a leading provider of advanced technologies and solutions to the global cannabis industry. mCig manufactures and markets best-selling portable and home vaporizers, extraction related equipment, CBD Rich Hemp Oil-derived products, and related nutraceuticals based on natural compounds found in Cannabis and Hemp plants. 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 believes that a well-regulated marijuana industry is emerging as more states follow the lead of Alaska, Colorado, Oregon, and Washington in legalizing marijuana. A similar trend is developing within the CBD and Hemp industries following overwhelming consumer demand.
About Sin City Cultivation & Tetramed Holdings Corporation:
Sin City Cultivation takes an unwavering ROI approach to business. Sin City Cultivations’ founder has been involved in all aspects of the marijuana boom in Colorado for the past several years including everything from deal structure and project launch to operations and financing. It has sourced millions of dollars in expansion and operational capital for their Colorado operations and will transfer this knowledge to Las Vegas.
Just as important, our focus on production and cultivation helps us maximize quality control of the product. Although basic economic principles of supply and demand will determine product price, our theory is that being one of the largest cultivation facilities in Las Vegas allows us the opportunity to supply ALL of the dispensaries in Las Vegas. This grants us diversified paths to market and ultimately better financial stability.
Lastly, our production facility allows the build-out of product specific manufacturing divisions. In anticipation of pro-recreational use legislation in 2016, we are currently designing manufacturing facilities to accommodate the flowering, edible, topical, and vape cartridge markets.
Sin City Cultivation plans to be a highly visible leader in Nevada and position themselves for national expansion with an eventual public offering on NASDAQ, Amex, NYSE or through acquisition by a major pharmaceutical, tobacco, or alcohol company.
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.