BEVERLY HILLS, Calif., March 12, 2015 (GLOBE NEWSWIRE) -- mCig® Inc. (OTCBB:MCIG), a leading provider of technologies and solutions for the legal medical and recreational marijuana industry, today released a Letter To Shareholders updating current activities and outlining its corporate strategy for 2015, as follows:
Dear Fellow Shareholders:
I want to take this opportunity to thank you for your investment and ongoing support in our Company as we complete our transition into a holdings company in the emerging multi-billion dollar cannabis industry. The advantages for a more diversified, shared-risk approach in this environment are clear, and vast opportunities for real disruption exist. Starting as just a vaporizer company, we've successfully moved upstream from our low-cost entry models, and have recently brought to market the mCig 3.0, mCig 4.0, and Bo$$ models.
In fact, we are already realizing significant value from our move to diversify. The new Chill CBD Hemp Oil vape products, and the VitaCig line of vitamin-enriched tobacco replacement products are gaining significant traction in the consumer marketplace and offer tremendous potential for us in the future. To more efficiently manage the expanding business, we have streamlined our management structure, created divisions to support our new lines of business, and are laser focused on expanding distribution and driving revenues. We will soon announce the hiring of a new CFO that will greatly help guide our financial success as we gain greater controls over our expenses and profitability.
As safety is a prime concern, VitaCig and mCig are now sourcing, filling, testing and packaging all liquids in the U.S. to ensure optimum quality as part of our standard operating procedures. We are using an independent, accredited, 3rd party U.S. lab for all testing. Our standard testing protocols now include liquid purity, validation of ingredients and safety of both the liquids and the hardware. We are also the first Company that validates all of our hardware in testing labs to ensure complete safety for our customers.
With the launch of our own contracting and engineering team and software division, mCig is fully investing in building up our expertise in promising areas. This will serve us extremely well, as we will drive both consulting revenues from external customers, as well as serve as an internal resource to further our leadership position. As new states aggressively adopt Cannabis-friendly laws in this rapidly expanding business, we will not only benefit financially with each build by controlling costs using the latest, state-of-the-art technologies and proven processes, but the companies that we continue to make agreements and partner with are greatly benefited by quicker start up times and higher annual grow yields.
We have also invested our R&D into exciting new products. One example is our patent-pending Ultrasonic technology for a revolutionary new type of pen vaporizers that delivers a cleaner delivery method. Another instance of where our lab work has paid off is our new, groundbreaking CBD-infused nutraceutical products soon to be released. And, we have many more products in various development and production cycles.
And, while the scope and number of products we bring to market grows, so too is our distribution network. Our recent distribution agreement with Café' Serendipity, an expanded sales force, new consumer facing web sites, and a new reseller program will all help to strengthen our retail and online presence and fuel our next phase of growth. We also have upgraded customer support services to ensure quicker response times, decrease costs, faster order fulfillment, and overall greater customer satisfaction. Lastly, I have opted to lock up my preferred shares for another year to help reassure shareholders of the security of their investments.
Our renewed focus and determination has opened exciting avenues of stable and profitable economies of scale within the cannabis space. Armed with a more diversified portfolio of sleek products and services and an ever expanding distribution network, all focus is leading to one unwavering goal: improved profitability and multiplying revenues. Even a short look ahead brings us new ventures such as automated retail stores (vending machines) and full software and merchant processing packages for dispensaries. We anticipate a very bright future for mCig!
Sincerely –
| Paul Rosenberg |
| CEO |
| mCig, Inc. |
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.