JACKSONVILLE, FL, Dec. 28, 2017 – mCig, Inc. (OTCQB: MCIG) a leading distributor of innovative products, customized packaging solutions, technologies, and services for the global medical cannabis industry, announces today a renewed and revitalized vision and direction for the company. CEO, Paul Rosenberg explains:
“In the last couple of months, we received many questions from our shareholders as to what direction the company is taking. In this shareholders update I will define the strategy going forward for the company.
Let’s start with a visual chart that we put together for our shareholders and future potential investors to better understand the business model. This chart can be found at our corporate website: www.mciggroup.com
mCig is one of the oldest public marijuana companies on the market today. The company started as a vape company, but having gone through shifts and changes in our business’ direction, MCIG evolved and is now a holding company.
mCig’s involvement in the cannabis industry today primarily consists of a diversified portfolio of ownership in our construction, consulting, packaging and accessories businesses, with an immediate objective to own our own cannabis cultivation license and grow. We are focused on a vertically integrated business model, playing the roles of manufacturer, wholesaler and retailer.
We understood the importance and need for the company to grow and distribute cannabis products, and this portion of our company is continuously evolving. mCig has given focus on land acquisitions (such as our California City cultivation project) and in obtaining cultivation licenses to grow, manufacture and distribute our own cannabis products.
Additionally, mCig understood the importance of investing in HEMP projects. In 2017, we struck a big deal enabling us to grow organic hemp in New York. After having received interest from different groups in our hemp project, the company, after careful consideration, decided to increase production efforts. The initial goal had been to grow hemp on 40 acres of land; this has since expanded to 90-120 acres of land for the first harvest. MCIG is currently also looking at other opportunities to acquire additional acres of land for extended hemp projects. MCIG is also working on developing a new and exciting product line in the cosmetic industry where we will be using our own cultivated hemp.
mCig still owns 3 brands: VITACIG , VAPOLUTION and VITACBD. In 2017, we sold 80% of our VITACBD brand to another public company, which we continue to have a small ownership position. Recently, there has been interest from some big players in the VAPE industry to acquire our VITACIG brand. We are currently considering all options.
mCig is an owner of BIOTECH Company, OMNI HEALTH INC. ( OMHE). The company initially encountered some road bumps in 2017, but management found a promising new direction for the company. We are looking forward to 2018, to capitalize on our early investment.
In 2017, mCig made a strategic investment in a technology company. Some of the projects we developed were related to cannabis industry, but the core of these projects were built around blockchain technology, something we see as imminent for the future.
At the end of 2017, management decided to do a spin off of the technology division. We just completed the audit of the new company and are a few days away from filing registration with Security and Exchange Commision to become a separate public company.
- Let me discuss a few directions our new company will take:
- Obitx, through its subsidiary ICOMETHOD will provide full consulting services, to help blockchain companies prepare and launch their Initial Coin Offering (ICO).
- Invest in startup companies.
- Take position in ICO’s
- Have ownership of Cyptocurrency ATM’s
- Serve as an advertising agency
We are very excited about this new company. MCIG will issue a dividend to its current shareholders, allowing them to participate in this new investment opportunity. The details will be released soon.
Our goal is to bring OBITX to NASDAQ in the next 12-18 months, after SEC approval of the company’s registration statement.
The company raised funds during 2017 and will be looking to raise more money in 2018 to grow business and finish projects that are currently underway. We are smart about bringing money to the company and any financial deals will be done in the best interest of shareholders. I personally committed more than $500k to OBITX Inc. As always we will continue to abide by our “no toxic debt” mantra. .
We are always looking for best deals and investments available for our company. We’ve learned many lessons and have weeded out incompetence, inefficiency and inadequacies.
Finally, I want to say, that I am proud of our management team. The company made smart decisions during 2017. We grew our shareholder base, expanded our business, and built a team of people who care about this company and its shareholders. We have a clear plan of how we see the future and where we want this company to be. I want to thank our shareholders and wish you all a HAPPY NEW YEAR in 2018!”
For more information visit our websites:
For more information about mCIG visit: www.mciggroup.com
For more information about Grow Contractors visit: www.growcontractors.com
For more information about the Cannabis Advertising Network visit: www.eHesive.com
For more information about email campaigns, lead gen and blasting visit: www.marketaro.com
Download 420Cloud on iTunes or Google Play and make a connection at: www.420cloud.com
More information about Cannabiz Packaging and Supply in California: www.cannabiz.supply
For more information about Cannabiz Supply in Nevada visit: www.cannabizsupply.com
Latest jobs in the cannabis industry visit 420Jobsearch at: www.420jobsearch.com
For the cannabis superstore of mCig and 3rd parties visit: www.420Tienda.com
For the marijuana recipes and cooking tips visit: www.mj.recipes
For more information about VitaCIG visit: www.vitaciggroup.com
For more information about VitaCBD visit: www.vitacbd.com
For the latest cannabis news visit: www.weedistry.com
About OBITX, Inc.
OBITX, Inc., a 100% subsidiary of mCig, Inc., is a strategic investor and operator in the blockchain ecosystem with a particular focus on the Bitcoin and Ethereum blockchains. The team is comprised of experienced developers, programmers, and engineers provide a unique capacity for developing innovative products layered in complexity and designed exclusively for any business initiative.
While OBITX, Inc. covers traditional business sectors it is also concentric and specializes throughout the cannabis and hemp sectors. Expertise involves designing, building and supporting mission critical enterprise applications. Specializing in core product development areas ranging from enterprise infrastructure to low-level system applications, we deliver cutting-edge solutions that leverage our years of experience into robust end products with high availability
About MCIG Group (OTCQB:MCIG)
Headquartered in Jacksonville, Florida, 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.