Business
mCig’s Subsidiary, Grow Contractors Inc. Announces it has Secured an Exclusive Management Contract With a Client and Property in Palm Springs, CA, Paving the Way to an Expanded Presence in the State
mCig’s Subsidiary, Grow Contractors Inc. Announces it has Secured an Exclusive Management Contract With a Client and Property in Palm Springs, CA, Paving the Way to an Expanded Presence in the State.
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[{"type":"text","content":"\n\n JACKSONVILLE, FL, March 01, 2018 (GLOBE NEWSWIRE) -- mCig, Inc. (MCIG) (www.mciggroup.com), a leading distributor of innovative products, customized packaging solutions, technologies, and services for the global medical cannabis industry, announced today that its Grow Contractors (GC) division has secured an exclusive extraction management contract with a client in Palm Springs, CA.\n This facility is eight thousand square feet and will primarily focus on subcritical ethanol extraction. The new state of the art facilities function will be the standard process of distillate extraction used in most disposable vape pen varieties. Further refinement will be done by the fractionation process to produce a substance with a much higher cannabinoid purity. This distillate is easier to use in preloaded vape pens and does not require any cutting agents other than natural cannabis-derived terpenes to add flavor. Gross profit projection for the facility is ten million a year with eight percent of net profits going to Grow Contractors. There is a sixty percent profit margin for most extraction facilities. “This facility is the first of our conquest in California,” commented Rob Kressa, CEO of Grow Contractors Inc. “The next facilities in Sacramento and Los Angeles will be coming online very soon with much more to follow. We are humbled and incredibly excited about the abundance of those interested in our services.” “I am so impressed with the Kressa’s commitment to the expansion of Grow Contractor's operation into California,” states mCig CEO Paul Rosenberg. “His forward thinking got us into what will soon be the largest cannabis market in the country. This is just the beginning, but we have now positioned ourselves to really be a substantial help to this rapidly growing industry.”   About Grow Contractors Grow Contractors is MCIG’s group of Cannabis consultants, engineers, architects, contractors, and grow experts combining over 100 years of experience and talent to bring clients efficient and high-quality grow spaces. Grow Contractors offers a practical approach to cannabis design, construction, and operations to create profitable and compliant facilities. The company provides a custom-tailored approach for every client because there is no universal approach to building a...