LOS ANGELES, CA--(Marketwired - Jun 4, 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 Thursday, June 4, the agreement to become the Master Distributor of the full line of patent pending CannaPod products. This unique partnership was formed as part of the collaborative efforts of the expanding mCig Sales Team and the Construction Division. As part of the CannaPods Master Distributor agreement, the mCig Sales Team will be acquiring 200 pre-qualified and prepared bids valued at roughly $40 million from the CannaPods existing sales pipeline. In addition to acting as the Master Distributor for the CannaPod product, the mCig Construction Division will act as the exclusive "preferred builder" for all customers who would like on-site assistance.
The modular cannabis building industry is exploding, and CannaPods, with their patent pending best-in-class technology, partnered with the mCig Sales Team and Construction Division, are positioned to dominate the marketplace.
"We are constantly striving to find new products and services we can provide to cannabis growers large and small, and we knew there was a clear need for a better solution for all growers who want durable, scalable, efficient, and tightly controlled growing environments. We saw the opportunity to partner with CannaPods and felt that their pending patent and commitment to creating the best modular construction products in the cannabis industry made them the type of partner we wanted to work with at mCig, and immediately took action to make that happen," Ron Sassano, Head of mCig's Construction and Engineering division stated.
"We are looking forward to letting our larger, more experienced sales team aggressively work to close the deals in the pipeline and expect to finalize at least 10% of them, which would immediately result in a few million dollars in revenue to kick off the initiative, and these leads are just the tip of the iceberg as we will be bringing CannaPods to national cannabis events for people to see and feel the product in person," Mr. Sassano added.
CannaPods are poised to make a big impact in the $3.5 billion cannabis industry, allowing start-ups and existing businesses alike to reduce costs, improve their product, and increase their speed to market.
About CannaPods
Growing high quality medical-grade marijuana is extremely challenging. The growing environment needs to be tightly controlled in order to successfully cultivate a crop which will satisfy customers. This environment needs to be as close to perfect as possible. If one environmental factor accidentally shifts just a little bit, an entire crop can be lost. Outside contaminants can easily ruin a multi-million-dollar crop overnight. A perfect growing environment is something every marijuana grower is constantly striving for, because the better the environment, the better the product and the higher the yield. CannaPods provide growers the ability to create the perfect environment, immediately, anywhere in the world.
CannaPods are turnkey, customizable, fully modular ISO clean cultivation rooms which use the best building materials on the planet to give growers the ability to create that perfect growing environment for their plants.
CannaPods allow pinpoint control of air temperature, water temperature, humidity levels, CO2, and ventilation.
CannaPods give growers the ability to maximize yields and increase crop quality by creating a reliable and consistent grow room environment 365 days a year in any climate. They can be built and stacked to any desired size, constructed within days, and can be easily set up and moved to any location.
CannaPod grow units are made from advanced space-age building materials and are built to last decades, unlike hoop tents and other common grow unit systems which degrade quickly. CannaPods composite technology provides better thermal efficiency, significantly reduced utility costs, fast and easy assembly, and exceptional strength characteristics. CannaPods are built to last decades.
Financing on all CannaPods products is available to qualified applicants.
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.