BEVERLY HILLS, CA--(Marketwired - May 26, 2015) - mCig, Inc. (OTCQB: MCIG), a leading provider of technology, products, and services for consumers, dispensaries, and growers within the global medical and recreational marijuana industry, announced on Tuesday, May 26, 2015 the plan to open a Southern Colorado Cultivation and Extraction Facility. The Extraction Division will oversee the operation of the facility, cultivating and extracting a world-class product for legal consumers in Colorado, allowing mCig to create another stable revenue stream in the cannabis extraction industry, which some analysts predict will reach $47B in revenue in 2016. The blueprint for this pilot facility will also be easily duplicated in other locations. In addition to the plan, mCig announced the completion of an agreement with Denver-based Master Grower and Cannabis Entrepreneur Derek DeCosmo to serve as a Key Partner and consultant for the upcoming Cultivation Facility. Mr. DeCosmo will also be responsible for providing logistical support for the Extraction portion of the Facility.
Mr. DeCosmo has over a decade of professional growing experience as well as an extensive network of farmers and dispensaries across the state from which to pool resources. Mr. DeCosmo has worked with Personal Organic Therapies in Denver in the past, and is extremely excited to be involved with the mCig Southern Colorado Operation. Mr. DeCosmo commented, "When Mike Snody (mCig's Chief Research and Development Officer) laid out the master plan and invited me to join this operation, I was immediately on board. I am putting 100 percent of my energy into ensuring the success of the Southern Colorado Operation. I grow the most potent, highest quality strains, and I'm constantly pushing the envelope, and I look forward to putting that knowledge and experience to work for mCig in Colorado. I have access to the absolute best, award-winning cuts and world-renowned strains in the world which we will use to create the finest concentrates available on the planet." The Southern Colorado facility will allow the Extraction Division to field test the upcoming Supercritical Co2 Extractor.
"We are looking forward to opening up shop in Colorado, and this partnership will allow us to ensure we are extracting the highest quality product for our customers," Mr. Snody shared. "We see this as an opportunity to pilot an Extraction Facility here in Colorado and create the blueprint for future facilities elsewhere in the United States."
In addition to this partnership, which will allow the Extraction Division to expedite the launch of the Southern Colorado facility and ensure the highest quality extractions, the Division has secured the agreements to capture the trim necessary to create the oil for the THC version of the upcoming em-j e-cigarette.
About mCig, Inc.
mCig, Inc. (OTCQB: MCIG) operates as a Master Distributor for cannabis-related products, identifies and capitalizes on opportunities in the Pharma sector of the cannabis industry, provides financing for innovative cannabis-related businesses, and creates technological solutions and applications for the industry. The mCig E-Cigarette and Portable Vaporizer Division provides a full range of smoking products for retailers and distributors, from disposable smoking devices to high-end heirloom pieces. The mCig CBD Hemp Oil Division houses the growing Chill product line and related nutraceuticals based on natural compounds found in Cannabis and Hemp plants. The mCig Extractions Division builds Co2 extractors at a best-in-class quality and price-point and implements the extractors to generate the best product for legal consumers. The mCig Software Division provides growers, dispensary owners, retailers, and others within the cannabis industry the software infrastructure they need to do business. The mCig Construction Division provides turnkey solutions for new and existing cultivators, which allow for tightly-controlled optimized growing environments. The mCig Technology and Consulting Division provides stakeholders who want to enter the cannabis industry, or want to improve their existing operations, the opportunity to access and capitalize on a vast pool of industry experience. The company is headquartered in Beverly Hills, CA.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.