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mCig, Inc. to Acquire Security Grade, Bringing Full-Service Specialized Security Solutions to the Cannabis Industry; Complements mCigs Comprehensive Strategy for End-to-End Servicing of Manufacturers, Distributors, Growers, & Dispensaries and More
mCig, Inc. to Acquire Security Grade, Bringing Full-Service Specialized Security Solutions to the Cannabis Industry; Complements mCigs Comprehensive Strategy for End-to-End Servicing of Manufacturers, Distributors, Growers, & Dispensaries and More.
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[{"type":"text","content":"\n \n \n mCig, Inc. to Acquire Security Grade, Bringing Full-Service Specialized Security Solutions to the Cannabis Industry; Complements mCigs Comprehensive Strategy for End-to-End Servicing of Manufacturers, Distributors, Growers, & Dispensaries and More\n \n \nmCig, Inc. to Acquire Security Grade, Bringing Full-Service Specialized Security Solutions to the Cannabis Industry; Complements mCigs Comprehensive Strategy for End-to-End Servicing of Manufacturers, Distributors, Growers, & Dispensaries and More\n \n BEVERLY HILLS, CA--(Marketwired - Jun 29, 2015) - mCig, Inc. (OTCQB: MCIG), a leading provider of technology, products, and services for consumers, manufacturers, dispensaries, and growers within the global medical and recreational marijuana industry, announced today that the Company has signed a letter of intent agreement (\"LOI\") to acquire Security Grade Protective Services, Inc., a full-service security firm specializing in the cannabis industry.\n The acquisition is expected to close on or before July 19, 2015. Security Grade has generated $560,000 in revenue with a 40 percent profit margin in the first half of 2015 and is on target for $1.3 million by fiscal year end. With nearly 100 percent growth year over year, revenues from Security Grade are expected to earn mCig $2.5 million in 2016 as the Company realizes its marketing and sales efforts for its systems and services in states beyond Colorado.\n \"This acquisition of Security Grade is just one of many product and service offerings we plan to bring into the mCig portfolio to become a one-stop shop for the cannabis industry,\" said Paul Rosenberg, CEO of mCig. \"The sale of specialized security products and services ties in strategically with the Company's new sales approach of directly targeting cannabis growers and dispensaries on a national scale. We are moving very aggressively to reach our $10 million revenue target for 2015. The Company will continue to pursue key acquisitions of products, services, intellectual property and human capital that add revenue and help to propel the Company in the future.\"\n \"We are pleased to be joining the mCig team, as their experienced global sales network and operational resources will provide an even greater opportunity for national expansion and growth,\" said Derek Porter, CEO of Security Grade ...