Las Vegas, NV– (Marketwired – November 13, 2017) – mCig, Inc. (OTCMKTS:MCIG), a diversified company servicing the legal cannabis markets, announced today that the company has applied for a license for manufacturing medical cannabis in California City. MCIG currently has over 2 acres of land in escrow.
MCIG is seeking a license for the manufacturing medical cannabis, which according to the California Department of Public Health, California Code of Regulations Title 17 would allow MCIG to do the following:
- Produce, prepare, propagate, or compound cannabis products.
- Extract and infuse process, including processing, preparing, holding, storing, packaging, or labeling cannabis products
- Package or repackage manufactured medical cannabis or medical cannabis products.
- Label or relabel packages of manufactured medical cannabis or medical cannabis products.
- Process, prepare, hold, or store cannabis components and ingredients.
mCig will begin its application for a commercial cultivation and distribution license for California, expected to be available January 2018. The company is preparing for this licensure now, ensuring that it is compliant with all known regulations. Upon approval, MCIG will leverage its Grow Contractors construction division in developing the the facilities necessary for the implementation of these projects.
“Our team, led by Christina Hernandez, did a fantastic job in managing hundreds of pages of documents and aggressive timelines for this submission. These applications require coordination between legal, engineers, architects, and local government in order to assemble the necessary components within the applications framework and requirements. California City is an independent city with its own mayor, municipal code and city council and as such has the right to govern themselves without interference from the county. Our talented team gives the company very good chances for getting us approved.”, explains Paul Rosenberg, CEO of mCig, Inc.
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About MCIG Group (OTCQB:MCIG)
Headquartered in Henderson, 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.
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.