JACKSONVILLE, FL, Oct. 15, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE – mCig, Inc. (MCIG), an innovative hemp and cannabis corporation, is pleased to provide an update on their high yielding CBD hemp project in New York.
mCig’s highly anticipated hemp harvest has begun in New York State. Over the next week, weather permitting, mCig will harvest its high yielding cannabidiol (CBD) hemp crop grown in an orchard style cultivation. mCig’s Research and Development team will carefully analyze the cannabinoid profiles of the various hemp strains grown as it continues to perfect the most efficient and effective way to cultivate cannabidiol-rich hemp.
“We are on track with our initial timeline, and the plants are healthy and robust,” stated Robert Kressa, President and CEO of Grow Contractors, an experienced outdoor cultivator.
Drying and Storage
Once the hemp is harvested, it will be dried onsite using commercial dehumidifiers and sterilization equipment. After the dried hemp reaches the appropriate moisture content, it can be stored in vacuum-sealed bags with little to no cannabinoid/plant matter degradation.
mCig is currently developing high-output ethanol extraction equipment with European partners. In addition to using the new equipment for its New York harvest, mCig also plans to use its customized extraction equipment for extracting CBD distillate and full spectrum oil from hemp in Europe. Current discussions with European hemp producers are promising, and mCig plans to leverage these relationships to gain traction in the European hemp and CBD markets.
“We’re harvesting our first annual hemp crop and are already in discussions with other farmers interested in growing hemp as an alternative to traditional crops. With these partnerships, we plan to expand our operations in New York, and grow over one hundred acres of hemp there in 2019. And, we’re on the cusp of breaking into the European market,” says Paul Rosenberg, CEO. “It’s great to be where we’re at right now.”
About MCIG Group (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.
Forward Looking Statements
This news release contains “forward-looking statements” which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as “anticipate”, “seek”, intend”, “believe”, “estimate”, “expect”, “project”, “plan”, or similar phrases may be deemed “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company’s reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.