MCIG Shareholder Update – CEO Defines Direction of the Company
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