BEVERLY HILLS, Calif., March 5, 2015 (GLOBE NEWSWIRE) -- mCig® Inc. (OTCBB:MCIG), a leading provider of technologies and solutions for the legal medical and recreational marijuana industry, is proud to announce a record initial CBD product order worth more than $1.2 million. mCig, Inc. also announces that it is finalizing a nationwide wholesale agreement with two large national distributors to supply these high-demand CBD products to more than 1,000 retail store locations.
mCig is capitalizing on the popularity from the new CHILL! CBD Oil Vape Tanks (www.chillcbdoil.com) to gain entry for all of mCig and VitaCig products to stores across the U.S. In addition to the 1,000 initial stores, which include smoke shops, hookah lounges, and convenience stores, another 6,000 stores through the national distributors are expected to be brought in over the next 12 months. Coupled with Café Serendipity's sales team, all mCig products including EM-J and CHILL!, and all VitaCig products, will also be introduced and distributed to thousands of dispensary locations nationwide.
"This is an important day for all mCig shareholders as this distribution agreement will immediately introduce our brands and line of products to thousands-upon-thousands of consumers across America and bring our revenues to historically high levels. We are working tirelessly to improve our formulas and bring innovative products to market as we deliver on our vision. We have similarly high hopes for our new EM-J line of disposable, pre-filled products, which is expected to reach the market later this month. mCig, Inc. is in a great position now with a full slate of new product releases, dedicated sales team, an ever-growing partner network, including our distribution agreement with Cafe Serendipity, and new and innovative line of CBD products," said Paul Rosenberg CEO mCig, Inc.
mCig's new CHILL! CBD Oil is available in prefilled tanks and is ready-made for our popular mCig 2.x model vaporizer device. Natural flavorings, larger tank sizes, and sleek new vape pens will be available soon. Legal in all 50 states and some 40-plus countries, CHILL! is derived from CBD Hemp Oil, which is assumed to deliver a number of health and wellness-related benefits.
Joe Spencer, previously announced as Executive Vice President of its Hemp Division, has decided to undertake another business opportunity and we wish him well in his endeavors.
About mCig, Inc.
Headquartered in Beverly Hills, CA, mCig, Inc. (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 owns the mCig and Vapolution brands, and has a 47% stake in VitaCig (VTCQ), makers of the VitaStik, a disposable vitamin vaporizer. 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 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.