Business
mCig Inc.'s VITACIG Division Signs New Continents and Expands Brand Rights in Europe, Increasing VitaCig Total Revenue Outlook to over $2 Million in FY2018
mCig Inc.'s VITACIG Division Signs New Continents and Expands Brand Rights in Europe, Increasing VitaCig Total Revenue Outlook to over $2 Million in FY2018.
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[{"type":"text","content":"HENDERSON, NV / ACCESSWIRE / June 13, 2017 / mCig Inc. (OTCQB: MCIG) a leading distributor of technology, products, and services in the Cannabis sector is pleased to announce its VitaCig division's new exclusive partnership contract for the territories of Australia and New Zealand, valued at approximately $1.0 million in guaranteed orders over three years. In addition, our Japanese partner's success has been tremendous since their official launch almost one year ago, and has committed to an additional $1.0 million investment into the VitaCig brand to expand their original contract to also include East and Southeast Asia. These expanded terms adds an additional $1.5 million in guaranteed orders over the next three years and increases VitaCig division's total revenue outlook to over $2 million in FY2018.During the last few months, MCIG's VitaCig division has reclaimed non-performing franchises to enhance shareholder value. As a result, the sole corporation operates under the VitaCig name and management with full control and ownership of all European distribution channels, the previous branding for VitaStik, EU Trademark (which includes all member states of the EU), 14 domain names (including vitastik.de, vitastikofficial.com), and all other European trade secrets of the Vitastik brand in all the member states of the European Union; with additional trademark protection in Australia, Mexico, and Turkey. MCIG will continue to aggressively defend its enterprise value of VitaStik as a brand in addition to bringing low-performing divisions into compliance with our contractual terms.MCIG's focus on aggressive international expansion for VitaCig continues to pay off and enables control of its future in Europe while moving forward to work with other franchisers to develop and expand the company.Plans for MCIG's next target market regarding international distribution for its VitaCig product line are focused in the Middle East, where the company is currently in talks with potential partners from Israel, Iran, Lebanon, UAE, Saudi Arabia, and India.\"MCIG continues to add to its IP and asset portfolio, and is working aggressively to protect its VitaCig brand and role as the industry leader in the disposable vitamin, essential oil, and e-cig industry. With the FDA and International regulatory agencies taking a strong stance on nicotine and toba...