JACKSONVILLE, FL, April 20, 2018 (GLOBE NEWSWIRE) — mCig, Inc. (MCIG) www.mciggroup.com, a diversified company servicing the legal cannabis markets, announced today that its subsidiary Grow Contractors (GC) has secured a minimum 3 year exclusive management contract with a client in Sacramento, CA. The project is currently underway and is approximately 50% completed. The GC team helped the client to secure all the necessary construction permits as well as the competitive city licenses.
GC has provided consulting, engineering and design work for the production and extraction facility, which is projected to generate between 10 to 12 million a year, with 10 percent of net profits going to Grow Contractors monthly. The cultivation side will feature advanced lighting from Asgard Concepts, the Thor 1000W HPS, as well as two complete extraction lines for ethanol. It will also have automated filling and packaging machinery. This contract alone has already generated 200k in revenues for the company this current financial quarter.
“This facility is the third in our plan to create a network of manufacturers and cultivators that are able to produce better product at a more competitive price,” commented Rob Kressa, CEO of Grow Contractors Inc. “We are incredibly busy getting our clients online, but the end result will be an unstoppable group of extraction labs and cultivators that are united in creating products such as distillate and other extracts. The facilities will be able to complement each other and work together when it comes to filling large orders in the California recreational market. We will mostly focus on white-labeling products for other brands, but there are plans to create proprietary brands which will have lasting market value through GC. Be prepared for more announcements regarding innovative and hip California brands.”
About MCIG Group (MCIG)
Headquartered in Jacksonville, Florida, mCig, Inc. (MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. mCig, Inc. is committed to be the leading distributor of technology, products, and services to fit the needs of a rapidly expanding industry.
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About Grow Contractors
Grow Contractors is MCIG’s group of Cannabis consultants, engineers, architects, contractors, and grow experts combining over 100 years of experience and talent to bring clients efficient and high-quality grow spaces. Grow Contractors offers a practical approach to cannabis design, construction, and operations to create profitable and compliant facilities. The company provides a custom-tailored approach for every client because there is no universal approach to building a cannabis facility. From California to Washington, Oregon to Nevada, Grow Contractors provides products and services in all legal cannabis markets.
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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.