Business
MCIG Purchases Land in California; Begins Cultivation, Production, and Distribution Licensing Process
MCIG Purchases Land in California; Begins Cultivation, Production, and Distribution Licensing Process.
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[{"type":"text","content":"\n \n \n MCIG Purchases Land in California; Begins Cultivation, Production, and Distribution Licensing Process\n \n \nMCIG Purchases Land in California; Begins Cultivation, Production, and Distribution Licensing Process\n \n LAS VEGAS, NV--(Marketwired - Oct 5, 2017) - mCig Inc., (OTCQB: MCIG), a leading distributor of innovative products, technologies, and services for the global recreational and medical cannabis industry is pleased to announce that the company has signed an agreement to purchase land in Kern County, California, expanding its asset base in preparation for California's January 1, 2018 \"Green Rush.\"\n Paul Rosenberg, CEO of mCig Inc., commented, \"California is a major emerging market for legal cannabis consumption, with adult-use sales expected to begin in 2018. We were looking for the right deal that makes sense for the company and its shareholders, and it took us quite a few months, but we have finally taken the first step in establishing a vertically integrated cannabis-focused agriculture company. The company has since initiated the licensing process and application for cultivation/production/distribution licenses.\" \n MCIG is expanding its business model to include cultivation, production, and distribution. The proposed initial build out in California will cover 50,000 square feet of greenhouse cultivation space that can produce 1,600 lbs and generate conservatively $2.4m a month in revenues.\n The Company is also seeking the right opportunity to secure land and licensing in Nevada and Arizona. MCIG views this strategic move as part of the blueprint of what's to come. Expanding operations horizontally will boost MCIG's impact on the market and provide greater wealth opportunities for its shareholders. \n Paul Rosenberg, CEO of mCig Inc., concluded, \"This is a major development for the company. We have all the resources necessary to build a successful business; we have our own construction/consulting division that will save us a lot of money when we start the build out process; experienced growers on staff that will help create a great line of MCIG products; and marketing/sales division that will allow the company to push our products to different areas of California. Building a successful vertical integrated model will be the main focus of the company moving forward.\"\n About MCIG Group (OTCQB: MCIG)\n...