HENDERSON, NV--(Marketwired - Sep 19, 2016) - mCig, Inc. (OTCQB: MCIG), a leading provider of advanced technologies and solutions to the global cannabis industry, and innovator in inhalation eCig technologies, is pleased to announce another substantial order through its wholly owned subsidiary, Vitacig, Inc., its Wholesale Division.
This purchase order for $100,000 USD from one of our Canadian partners will be realized as booked revenue during the second fiscal quarter of this fiscal year. The order consists of six brands of the VitaCig e-Cig and several of the VitaCBD products currently available.
The company has shipped $50,000 worth of product already and the remainder of the order will be shipped in the next few weeks. All the revenues will be recognized during this current Quarter (ending October 31,2016).
On June 22, 2016 MCIG acquired the European & Canadian assets of VTCQ's wholesale contracts along with the associated revenue pipelines for its products. As stated in our earlier release of the VTCQ acquisition, MCIG & its shareholders are able to realize the new revenue streams we set out to create.
Michael James, Division Manager for VitaCig, Inc., comments, "This purchase order continues to demonstrate the growing demand for our products in the global market place. Apart from the tremendous success we are seeing here in the U.S., we continue to develop new friends and partners all across the globe who share in our vision for a healthier lifestyle."
About mCig, Inc.
Headquartered in Hollywood, CA, mCig, Inc. (OTCQB: MCIG) is a leading provider of advanced technologies and solutions to the global cannabis industry. mCig manufactures and markets best-selling portable and home vaporizers, extraction related equipment, CBD Rich Hemp Oil-derived products, and related nutraceuticals based on natural compounds found in Cannabis and Hemp plants. The company believes that a well-regulated marijuana industry is emerging as more states follow the lead of Alaska, Colorado, Oregon, and Washington in legalizing marijuana. A similar trend is developing within the CBD and Hemp industries following overwhelming consumer demand.
Safe Harbor Statement
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 efficiency 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.