HENDERSON, NV--(Marketwired - Nov 17, 2016) - mCig, Inc. (OTCQB: MCIG), a diversified company serving the legal cannabis, hemp, and CBD markets, updates shareholders from the Las Vegas Conference on an industry changing deal that Scalable Solutions has signed an exclusive agreement with Sangreen International Agricultural Technology Co, one of the premier greenhouse manufacturers in the World. The exclusive agreement will allow Scalable Solutions to buy, sell & market Greenhouses for China's largest manufacturer and worldwide distributor of the entire USA Cannabis market.
Greenhouse technology is one of the most "in demand" portions of the sector as they relate to the cannabis and urban farming industries due to their low cost structure and operations. Currently, Cultivators are forced to use high priced greenhouse manufactures, where companies are paying a premium based off of name recognition from firms utilizing the same hot dipped galvanized steel from China or aluminum structures. Rather than pay the premium on a US name mark up, Scalable Solutions & Sangreen will circumvent the middleman while creating the highest quality, lower cost greenhouse that cultivators desire.
"We feel that our exclusive agreement with this world renowned multinational greenhouse manufacture will be great for our industries bottom line as price gauging for the Cannabis greenhouse market becomes a thing of the past. The confidence that Sangreen has shown in honoring MCIG & its Scalable Solutions division with this important contract, is a true testament to the impact we are having in the Cannabis construction cultivation markets. This agreement puts the company into a position to rapidly gain market share as Sangreens United States arm," said Ron Sassano of Scalable Solutions.
"We could not be more proud of our Scalable division. This is a first in Cannabis industry to sign such an important multinational contract with the premier maker of Greenhouses in the World," states Paul Rosenberg, CEO of MCIG, on behalf of Scalable. "We will be supporting this effort by creating 3 models of offerings for the Cannabis industry and dedicating resources to the success of this venture. Greenhouses are the hottest trend in the industry with the two largest US GreenHouse manufacturers being consolidated with a Third. We will price the offering at a discount to other manufacturers, and we will be providing high quality hot dipped galvanized steel with sealed joints, commensurate with top standards."
"Expanding into the growing USA Cannabis market through Scalable Solutions is a strategic move designed to penetrate the current market with a company we feel will be an industry leader, and lead us in this market. This agreement gives us a competitive advantage in the US Cannabis market, thus bringing affordability and quality product to the robust growing markets of the USA," says Spring Zhu, the General Manager for North America of Sangreen. "We have already received one large order from Scalable for the largest and most advanced desert grow in Vegas and are working on a clear and fair standardized offering to streamline bids to consumers and reduce the work load given Scalable's deal flow, and the many other bid requests we have received to date from them."
About Scalable Solutions, LLC
Headquartered in Henderson, Nevada, Scalable Solutions, Inc. is dedicated to servicing the Cannabis industry as a leading large scale Cannabis cultivation construction company and consultant. The company provides full planning, design, construction, equipment, and consulting services for large scale grows.
About Beijing Sangreen Agricultural International Technologies Co., LTD
As a professional greenhouse manufacturer and exporter to almost 40 countries around the world, Sangreen (http://www.sangreentech.com) provides services of greenhouse design, production, and installation. Adding further value, Sangreen offers project consultancy, production suggestions, hydroponic technologies, and turnkey solutions to help customers maximize production and guarantee high yields. The comprehensive services and solutions have made Sangreen a key player in this sector.
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.
This release contains non-GAAP disclosures, Adjusted Net Income and EBIDTA. This term, as the Company defines it, may not be comparable to a similarly titled measure used by other companies and is not a measure of performance presented in accordance with GAAP. The Company uses Adjusted Net Income and EBIDTA as a measure of operating performance. Adjusted Net Income and EBIDTA should not be considered as a substitute for net income.
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