Business
mCig, Inc. Raising up to $3 Million in Financing for Expansion of Operations
mCig, Inc. Raising up to $3 Million in Financing for Expansion of Operations.
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[{"type":"text","content":"\n \n \n mCig, Inc. Raising up to $3 Million in Financing for Expansion of Operations\n \n \nmCig, Inc. Raising up to $3 Million in Financing for Expansion of Operations\n \n LAS VEGAS, NV--(Marketwired - Sep 13, 2017) - mCig Inc., (OTCQB: MCIG), a diversified company servicing the legal cannabis, hemp, and CBD markets, is pleased to announce that it is concluding efforts to raise up to $3 million under a private placement to qualified accredited investors for the expansion of its operations. \n The Company has already raised over $1 million, about one-third of our target at the purchase price of $0.25 per share of common stock. MCIG CEO, Paul Rosenberg, also participated in the offering. The capital raise is scheduled to conclude on September 30, 2017 and may be extended by the company if deemed necessary.\n Mike Hawkins, recently named top CFO in 2017 by Finance Monthly, states, \"The fact that accredited investors are willing to invest in our company at a premium price from the market fuels us more than ever to deliver positive results to our growth. This capital raise will enable the company to diversify its portfolio without any toxic debt.\"\n Recent Development Highlights\n \n \n The purpose of the capital raise is to support MCIG's plans for a licensed cannabis cultivation and production facility, and distribution efforts.\n \nMCIG is currently in negotiations to acquire a cannabis cultivation license in CA, NV, and/or OR and feels very confident in being able to go into full contract soon.\n \nMCIG has seen tremendous improvements in revenue, gross profits, net profits, cash position, CAGR, and shareholder value. MCIG has done this without taking on any toxic debt and plans to continue to abide by this business model and \"no toxic debt\" mantra.\n \nMCIG has recently expanded its supplies services into California.\n \nMCIG continues to expand its Merchant Services capabilities along with adding improved methods of purchasing cannabis and CBD products.\n \n \n Paul Rosenberg, Chief Executive Officer of mCig, Inc., stated, \"The time is right in planning for our own cultivation facility. We have seen our business grow and our cash position has improved tremendously. We have lived by the mantra of no toxic debt, and it has proven to be the right choice for our busines...