BELLEVUE, Wash., Dec. 3, 2013 (GLOBE NEWSWIRE) -- mCig, Inc. (OTCQB:MCIG) is pleased to announce that the company has reduced the authorized shares outstanding by 44% to 560,000,000. The company would also like to announce the appointment of noted Cannabis Activist and Consultant Mark Linkhorst as Chief Operating Officer (COO) of mCig, Inc.
Non-Dilutive Compensation
As part of this appointment, Paul Rosenberg CEO of mCig, Inc. transferred 500,000 of his restricted shares to Mark Linkhorst with an additional 500,000 share transfer set for 6 months following the appointment. No new shares of mCig, Inc. will be issued as part of this appointment.
Mark Linkhorst Biography
Mark discovered the benefits of Cannabis in 1997 after being honorably discharged from the US Army with a health condition. After a period of recovery Mark enrolled in Penn State's Liberal Art School where he graduated in 2001 with a B.A. in International Politics. From 2001-2003 Mark was an activist with Clean Water Action. In March 2004 Mark moved to Las Vegas where he joined the Marijuana Policy Project. At MPP Mark established the successful signature gathering campaign that helped pave the way for legalization in places like Reno, Nevada and Fairbanks, Alaska. As the movement gathered momentum, Mark identified the commercial opportunities that would come. He enrolled in America's "First Cannabis College" Oaksterdam University and was class Valedictorian in the Inaugural 2007 year. Next, Mark joined the nationally renowned "model" dispensary the Berkley Patients Group where he served as QA/QC manager and dispensary manager. From 2008-2011 Mark worked with over a dozen dispensaries in the Bay Area in varying capacities. Since then Mark has been operating as a consultant in the Cannabis and industrial hemp field through Cannabis.Pro, LLC. His company has produced high quality concentrates that have been in dispensaries throughout Northern California. Mark also lobbied with the National Cannabis Industry Association leading to the now infamous Aug 30th announcement by the Department of Justice relating to enforcement shifts in recreational and medicinal marijuana usage.
"Mark approached us several months before the launch showing sincere interest in our company and the mCig. Since then we have developed a closer relationship and I have been uniquely impressed with how quickly he grasped our corporate philosophy, mainly the disruptive nature of our business model. From a technical standpoint, he has impressed the design and engineering team with his ideas and we decided he would be an integral addition to the team. In addition to technical expertise, Mark also provides mCig with intricate knowledge of the medical marijuana political landscape and grass-roots movements. As an instrumental player in both movements, he is well respected by the people on the ground. We are very excited about this addition to our team as we focus on the upcoming launch of the new and improved mCig." Said Paul Rosenberg, CEO of mCig, Inc.
"Becoming a part of the mCig team brings me great personal joy. As someone who's been vaporizing for close to 10 years, to deliver a high quality experience to the general public for $10 is what harm reduction is all about. As an activist, there is no greater compliment than practicing what has been preached in this industry. Being a publicly traded entity will provide us with an even greater opportunity for outreach, brand development, and hopefully share prosperity for all shareowners with an economic interest." Said Mark Linkhorst, COO of mCig, Inc.
About mCig, Inc.
mCig, Inc. (OTCBB:MCIG) is a technology company focused on two long-term secular trends sweeping the globe: (1) The decriminalization and legalization of marijuana for medicinal or recreational purposes (2) The adoption of electronic vaporizing cigarettes (commonly known as "eCigs") by the world's 1.2 Billion smokers. The company is preparing to launch the mCig – a purpose built loose leaf eCig retailing at only $10. Designed in the USA – the mCig provides a superior smoking experience by heating plant material, waxes, and oils delivering a smoother inhalation experience. See more at: http://www.mcig.org/
The company believes that a well regulated marijuana industry is emerging as more states follow the lead of Washington and Colorado in legalizing marijuana. A similar trend is developing within the eCig industry following the first acquisition of an electronic cigarette brand (Blucigs) by a traditional tobacco company Lorillard Inc. for $135 million. Wells Fargo analyst Bonnie Herzog estimates that eCig sales may rise from $1 Billion in 2013 to $10 billion over the next three years.
mCig, Inc. (OTCBB:MCIG) has positioned itself as a first mover at the intersection of these two trends and hopes to create shareholder value by making the mCig one of the leading choices for electronic consumption of plant material. - See more at: http://www.mcig.org/investors/investor-opportunity-subpage/
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.