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MCIG Announces $200,000 Investment from CEO and CFO
MCIG Announces $200,000 Investment from CEO and CFO.
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[{"type":"text","content":"\n \n \n MCIG Announces $200,000 Investment from CEO and CFO\n \n \nMCIG Announces $200,000 Investment from CEO and CFO\n \n HENDERSON, NV--(Marketwired - Feb 1, 2017) - mCig Inc., (OTCQB: MCIG), a diversified company servicing the legal cannabis, hemp, and CBD markets, announced today it has entered into legally binding subscription agreements with Paul Rosenberg, Chairman and Chief Executive Officer and Michael Hawkins, Chief Financial Officer for the issuance of 25,000 newly issued Series A Preferred shares each. Under the agreements Mr. Rosenberg and Mr. Hawkins will subscribe for and purchase directly or through their own beneficially owned and controlled special purpose vehicle 25,000 shares of Series A Preferred stock each for a total purchase price of $200,000 ($100,000 each), or $4.00 per share, which equates to $0.40 per common share in conversion. In addition to the Series A Preferred stock, Mr. Rosenberg and Mr. Hawkins will each receive a five year warrant for an equal amount of common shares at $0.75 per share. \n MCIG remains ultra conservative in its financing measures. The Company has a long history of self-supporting its operations and continues to protect its shareholders from a toxic debt strategy. Paul Rosenberg stated, \"We will remain diligent in our financing strategies as we continue to expand operations and grow vertically and horizontally.\" \n About MCIG, Inc.\n 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 has transitioned from a vaporizer manufacturer to an industry leading large scale, full service cannabis cultivation construction company with its Grow Contractors division currently operating in the rapidly expanding Nevada market. 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. For more information visit www.mcig.org. \n Safe Harbor Statement\n 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 curre...