BEVERLY HILLS, Calif., Jan. 20, 2015 (GLOBE NEWSWIRE) -- mCig Inc. (OTCBB:MCIG), a technology company that owns, manufactures, and distributes the mCig®, VitaCig®, and Vapolution products, is pleased to announce that the company has entered into a strategic partnership agreement with Force Fuels, Inc. (OTC PINK:FOFU), aka Café Serendipity, a builder of upscale branded turnkey retail stores to the recreational and medical marijuana industry nationwide. The agreement calls for each party to receive securities of equal value in the other entity upon closed agreement. mCig, Inc. believes that partnering with Café Serendipity will be mutually beneficial to both companies through the doubling of branding and product awareness efforts.
mCig, Inc. CEO Paul Rosenberg stated that, "With this new agreement, mCig is moving very quickly to expand its footprint across all major marijuana-friendly states. We are delighted to be working with Café Serendipity and participate in the build out of their exciting brand. This presents a fantastic opportunity for mCig to distribute our growing product line via Café Serendipity's network and allows us to have a continued interest in the growth of this dynamic young company."
"Café Serendipity is excited to be participating with mCig. Their unique product lines are a perfect marriage with our branded licensed network and will be integral as we build out our distribution channels. We believe that by partnering with mCig, we will be able to synergize our brands and help one another to remain leaders in this quickly expanding market," explained Bob McNulty, Chairman of Café Serendipity.
About Force Fuels, Inc. (aka Café Serendipity)
Based in Henderson, Nevada: Force Fuels Inc. owns and operates Café Serendipity Inc. and is a builder of upscale branded turnkey retail stores, financial solutions, technology and science to the recreational and medical marijuana industry. The company plans to market a unique branded product line of accessories, apparel, coffee and teas, bakery and other edibles, lotions, marijuana and oils through a coast to coast franchise and dealer network to the recreational and the approximately 6,000 existing legal medical marijuana dispensaries in the USA.
Mr. McNulty is an accomplished entrepreneur with over 30 years of significant experience in specialty retail, e-commerce, branded consumer products, retail start-ups and developing new concepts and technology platforms for utilization in the retail industry. Mr. McNulty founded Shopping.com and served as its President and CEO. Shopping.com was purchased for $220 million in an all cash transaction by Compaq Computers. Mr. McNulty also founded Home Club and served as its Chairman and CEO. Home Club was a chain of home improvement warehouse stores for contractor trade with 38 stores and 14,000 employees with 1 billion dollars of revenues. He was the first to institute and implement the "everyday low price strategy" in the U.S. Home Improvement industry.
About mCig, Inc.
mCig, Inc. (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 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 eCig industry following the first acquisition of an electronic cigarette brand (Blucigs) by a traditional tobacco company, Lorillard Inc., for $135 million followed by another acquisition in February 2014 by Altria Group Inc. of Green Smoke for $150 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.
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.