mCig Projects Major Revenue Boost in 2020, Subsidiary BRXX Clinical Outlines Business Plan
JACKSONVILLE, FL – (NewMediaWire) – January 27, 2020 – mCig, Inc. (MCIG), a vertically integrated company focused on the development and commercialization of OTC, science-driven, botanical nutrigenetics targeting the endocannabinoid system, today announced the business plan for the nutraceutical joint venture of the Company and Bare Roots, Inc.
BRRX Clinical will operate under two divisions, Consumer Products, and Health Care. The Consumer Products Division will operate much as most other CBD product companies, however, the emphasis will be on products with verifiable efficacy and prescribed dosages. As part of this strategy the company now has three products Registered with an FDA Institutional Review Board (IRB) in Clinical Trials. The first of these, a salve to alleviate the pain from Shingles outbreaks, was announced recently and will be available through a network of independent compounding pharmacies along with two other products also in trials. One of them, a regimen consisting of three packets of a CBD compound ingested daily is targeted at treating liver cirrhosis and fibrosis and is expected to retail for about $400 to $600/month. The last of the three products is a balm targeted at relieving the inflammation from Herpes.
Starting in February, the company will launch its Health Care Division. The core product for this division is a software platform developed over the past 15 years to detect an individual’s predisposition to certain diseases up to three years before symptoms reveal themselves. The platform is a GE/Intel certified program that has been in use for several years. It analyzes blood work, lab results, and genetic information to develop an individual profile that can be used to target that person for certain interventions like a change in diet, supplements or specific exercises.
The launch will start with the BRRX Clinical Subscription Service, a set of services complementing the software platform that will utilize participating clinics and doctor networks to drive consumers to get healthcare before their symptoms require more drastic medical intervention. The plan is for this to be a product marketed to employers, carriers, Physician Networks, and individuals.
According to Dale Hipes, CEO of BRRX Clinical, “We want the focus to be on a holistic approach customized to each client. People can start with a base plan which will have a three-month minimum subscription, and which will develop a blood, genetic, and nutritional profile for each individual. The premium plan is expected to include a week of organic meal service based on an individual’s nutrition plan developed from the initial testing. Members will also have free access to fitness centers, telemedicine services, daily nutraceutical supplements and monthly blood tests in consultation with their physician to identify any bodily changes which could alter their health profile. Additionally, the plan will include catastrophic health insurance and Dental and Vision coverage with required annual checkups.”
The company expects to market the plan through insurance brokers and is conservatively projecting $1 to $2 million in revenue from BRRX Clinical during its first year of operation. This is in addition to the $1.3 million in CBD product orders announced on January 17. New revenue is also expected from the independent pharmacy network as they conduct the aforementioned clinical trials, and from an anticipated CBD cosmetics line to be released later in the year.
Paul Rosenberg, CEO of mCig, Inc., stated: “The clinical subscription service, once launched, could potentially create a significant new revenue stream for mCig. It puts mCig/Bare Roots into a category nothing like any existing CBD company or insurance services provider.”
About MCIG Group
Headquartered in Jacksonville, Florida, mCig, Inc. (MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands.
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About BareRoots Rx Inc.
The company focused on the development and commercialization of OTC, science-driven, botanical nutrigenetics, that target the endocannabinoid system. BareRoots Rx Inc. also delivers high-quality consumer and OTC THC-free CBD products that promote overall health and well being as well as state-of-the-art testing and analytics capabilities to our customers.
This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent the Company’s current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect the opinions of the Company’s management only as of the date of this release. Please keep in mind that the Company is not obligating itself to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as: potential, expect, look forward, believe, dedicated, building, or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by the Company herein are often discussed in filings the Company makes with the United States Securities and Exchange Commission (SEC) available at www.sec.govand on the Company’s website at www.mciggroup.com.