HENDERSON, NV--(Marketwired - Dec 21, 2016) - mCig Inc., (OTCQB: MCIG), a diversified company servicing the legal cannabis, hemp, and CBD markets announced today that it is on track to deliver the "best quarter on record" to its shareholders. In the recent shareholder conference call held December 19, 2016 the company covered many key points of the business operations culminating in the fact that MCIG has surpassed last quarter's historical earnings statement, by exceeding the total revenue for the previous quarter half way through our current quarter. With January's projected revenue numbers, MCIG is scheduled to deliver its best quarter in its history. Some of the key points made by management during the shareholder update call include:
- All three operating segments, construction, wholesale, and retail were profitable, self sustaining and projected to maintain upward trend.
- Construction/consulting division has become MCIG's most profitable division, with expectations of a continued trend as Nevada Cultivators scale operations to meet recreational demand within the state.
- Our wholesale e-Cig and CBD segment is still robust, profitable and positioned exceptionally well in international & US markets.
- Established a new wholly owned subsidiary, Grow Contractors Inc., to oversee construction segment with Rob Kressa, a 10 year cannabis industry veteran appointed as the CEO of Grow Contractors Inc.
- MCIG in negotiations to acquire Medical Marijuana Establishment ("MME") licenses in Nevada.
- MCIG currently has over $10 million in order/contract backlog
- MCIG, in joint venture with Sangreen International, to launch a new "Build your own greenhouse website" at www.growcontractors.org in the next few weeks, along with corresponding mobile app.
- MCIG model considers acquiring, growing, incubating, operations in the cannabis space, with the ultimate intention to spin-off as it did with VitaCig, now Omni Health, Inc.
- OMHE investment is currently valued at over $1.5 million, which MCIG expects to be an appreciating asset over time or as a read to use reserve for the company mandates.
- VitaCig e-Cig division continues its domination of the international e-Cig business. Its recently expanded operations in Europe with plans to penetrate South Africa, and South America.
About mCig, Inc.
Headquartered in Henderson, Nevada, mCig Inc. (OTCQB: MCIG) A diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. For more information visit www.mcig.org.
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 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.