HENDERSON, NV--(Marketwired - Jun 2, 2017) - mCig Inc., (OTCQB: MCIG), a leading distributor of innovative products, technologies, and services for the global medical cannabis industry and Player's Network, Inc. (OTCQB: PNTV), a diversified holding company operating in media and marijuana, today announce the Phase 1 completion of Green Leaf Farms Holdings, facility in North Las Vegas.
Green Leaf Farms Holdings, LLC (Green Leaf), a subsidiary of PNTV, contracted mCig to develop and buildout their 27,000 sq. ft. facility in North Las Vegas. mCig completed the first Phase of development which included two vegetation and flower rooms, an extraction lab and all the needed infrastructure to support the facility. In addition, mCig worked with the City of North Las Vegas and the State of Nevada to ensure Green Leaf was 100% compliant. mCig has already completed the design, structural engineering and technical specifications for the remaining build out of the full 27,000 sq. ft. facility.
In addition to the completion of Phase 1, mCig is already nearing the completion of Phase 2 out of 3 total phases. Phase 2 is expected to complete in approx. 6 weeks which will add an additional 7,000 sq. ft. of cultivation to the facility.
PNTV Chief Executive Officer, Mark Bradley said, "Working with multiple government agencies and being fully compliant with so many rules and regulations has been very challenging! Working with mCig's management, specifically Ron Sassano and Robert Kressa, has made this process so much easier due to their invaluable industry expertise, know-how and experience in both construction and marijuana facility design."
"Green Leaf's facility is a state-of-the-art marijuana facility," said Paul Rosenberg, mCig's Chief Executive Officer. He continued, "The building has an amazing footprint with high ceilings and plenty of additional land that allows us to fully customize around optimizing growing marijuana and creating efficiencies with an ideal operation. We are looking forward to completing the next phase of development."
About Medical Cannabis Innovations Group (OTCQB: MCIG)
Headquartered in Henderson, Nevada, mCig, Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. mCig, Inc. is committed to being the leading distributor of technology, products, and services to fit the needs of a rapidly expanding industry. mCig, Inc. has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Grow Contractors division currently operating in the rapidly expanding Nevada market.
mCig, Inc. also employs a world renowned tech team and has recently entered the tech space to satisfy its evolving role in technology and in keeping it's growing following up to speed.
The company looks forward to growing its core competencies to service the ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. With over seventy five years of experience combined between the key players that make up the Cannabis Grow Contractors Division, mCig Inc. is proud to work with Cannabis Industry leaders and provide broad and rounded solutions for legal growers nationwide.
About Player's Network, Inc. (PNTV)
Player's Network is a diversified company operating in media and cannabis markets. PNTV owns approximately 85% of Green Leaf Farms Holdings, LLC (Green Leaf Farms), which holds cultivation and production license(s) awarded by the state of Nevada. The cultivation license enables Green Leaf Farms to grow marijuana and the production license enables them to create extracts which are used for cartridges, oils and edibles. WeedTV.com is developing the ultimate resource for the marijuana lifestyle within our media operations.
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About Green Leaf Farms Holding, LLC
Green Leaf Holdings, LLC (Green Leaf Farms) produces medical and recreational cannabis products. Green Leaf is located in North Las Vegas, Nevada on 2.3 acres in a state-of-the-art 27,000 sq. ft. facility. They have a seasoned team of professional growers and operators to manage the facility with proven best practices to ensure they have the highest quality products available.
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 a non-GAAP disclosure, EBIDTA, which consists of net income plus interest expense, net, provision for income taxes and depreciation and amortization. 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 EBIDTA as a measure of operating performance. EBIDTA should not be considered as a substitute for net income.