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mCig, Inc. Granted Three Cannabis Licenses in California

April 30, 2018

 

JACKSONVILLE, FL, April 30, 2018 (GLOBE NEWSWIRE) -- mCig, Inc. (OTC:MCIG) www.mciggroup.com, a diversified company servicing the legal cannabis markets, announced today that it has officially been awarded three licenses from California City, California, for recreational cannabis cultivation, statewide distribution, and manufacturing.

 

The extremely competitive licensing procedure of California City took in over 300 applications, awarding only 16 licenses at this time, 3 of which belong to MCIG.

 

The property will be developed into a state-of-the-art 30,000 square foot “Smart Greenhouse” cultivation facility by the company’s construction subsidiary, Grow Contractors, Inc.  In addition, it has been planned out to have a 2,000 square foot manufacturing facility to create extracts, and a small distribution center that will be used to move products to retailers. This facility is projected, when fully operating, to generate approximately $20M in annual income.

 

“This property will be a one-stop-shop for all things cannabis in California City. We are going to create a lean manufacturing facility which will be a flagship for vertically integrated cannabis operations,” says Robert Kressa, Grow Contractors CEO.

 

“Along with our licensed Industrial Hemp farm in Hudson Valley, New York, these additional three California licenses, means that we are quickly getting back to our roots building profitable and efficient operations to be used as a model for future planned expansions. This is just the early part of our plan, creating a network of cannabis facilities that will stretch over the entire U.S.,” Paul Rosenberg, MCIG CEO.

 

Headquartered in Jacksonville, Florida, mCig, Inc. (MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. mCig, Inc. is committed to be the leading distributor of technology, products, and services to fit the needs of a rapidly expanding industry.

 

For more information visit our websites:

 

https://www.mciggroup.com/

https://www.facebook.com/mCigInc/

https://twitter.com/mciginc

 

Safe Harbor

 

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.

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Disclaimer: Except for the historical information and data presented herein, matters discussed in articles on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future performance or achievements expressed or implied by such coverage. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. Smoke Show Ventures, Inc. or its affiliates, which owns The Daily Marijuana Observer, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.dailymarijuanaobserver.com/legal-disclaimer/.