BEVERLY HILLS, CA--(Marketwired - Feb 22, 2016) - VitaCig, Inc. (OTC PINK: VTCQ), a technology company that is harnessing mobile vaporization technology for multiple delivery applications, as well as a leader in the development, marketing, and sale of ultra-pure CBD tinctures, Edibles, and E-Liquids, is pleased to offer a corporate update from CEO Paul Rosenberg.
To our valued shareholders:
I want to take this opportunity to thank you for your investment, patience, and the ongoing support of our Company as we have transitioned from a lengthy quiet period to aggressively rolling out a campaign to re-launch the Company's products and brands.
It should be evident that since our December 10th corporate update, I have spent nearly every waking moment looking for ways to create lasting value for both mCig® Inc. (OTCQB: MCIG), and of course, VitaCig, Inc. I wish to take this opportunity to recount our recent corporate actions and business activities, as well as update their progress.
Immediately following the announcement VitaCig Company and brand would be re-launched, I decided to build the VitaCBD™ CBD Division. We brought to market several ultra-pure, high-quality CBD product offerings such as our VitaCBD™ CBD Tincture Oil, VitaCBD™ CBD E-juice, and VitaCBD™ CBD European Gourmet Chocolate. This new line of products began to generate revenues for the company right out of the gate, and found great traction with our network of existing wholesale and distribution accounts. We are currently in the process of launching our core-four, Black and Gold Label VitaCBD™ product line. This new high-end, premium VitaCBD™ CBD line will include Tincture Oil, multi-flavored CBD E-juice, delicious CBD Gummie Edibles, and a concentrated CBD Wax. Our new VitaCBD™ high end CBD product line is expected for release early next month and will feature a new high-quality and redesigned corporate website.
January was a big month for us as we announced a landmark royalty and CBD distribution deal with our Vitastik European partner, as well as launching the Vitastik product in Japan, and we couldn't be happier on how the product has been received. Since then, we are pleased to report Vitastik EU has placed their announced Vitastik order through VitaCig, and VitaCig collected their first royalty payment under this new agreement. Vitastik EU is expected to place their second large order later this week. Also a note to add, Vitastik EU CEO Johannes Luis has recently launched Vitastik Spain, as well as Vitastik Australia and is expected to place another 20k unit order next week. We expect more international product orders in March, and look to expand deeper into Asia over the coming months.
Less than two weeks ago we re-launched our world famous VitaCig® disposable vitamin vaporizer line. It now features a fully mobile responsive, interactive, newly redesigned corporate website, new logo and product design, as well as new and exciting name changes for the flavors. The results of our re-launch in the last two weeks have been nothing short of amazing. We have had over 500 product pre-orders from individual customers, several significant wholesale pre-orders, and wholesale/distribution leads from all over the globe. We will announce the close of some of these larger accounts in the near future. Due in part to our VitaCig re-launch, the Company has generated more revenue since we re-launched in December, than we generated in the first 11 months of last year.
Just last week, we announced VitaCig closed a partnership agreement with a major Chinese e-cig manufacturer, Surpass International Technology Ltd. Under the terms of the agreement, Surpass has agreed to provide VitaCig with disposables, rechargeable e-cigs, the latest vaporizers and technology they are producing, and also related accessories. The fruit of this relationship continues to grow. Next Quarter, as part of this new agreement, VitaCig will be rolling out a special VitaCig® Allstar Rechargeable unit, which uses pre-filled liquid capsules and will be available in all of our amazing VitaCig® flavors.
In moving forward from here, many of you know mCig Inc, is VitaCig's largest shareholder, and as owner of a 47% equity stake in VitaCig Company, no one has a more vested interest in building value for VitaCig then mCig does. To demonstrate our long-term commitment and reaffirm our unwavering confidence in VitaCig's future, mCig has agreed to lock up its shares for a period of one year. Following the end of the lock up period, we will evaluate our position and likely extend the agreement, barring any unforeseen necessity not to do so. I sincerely hope our shareholders, and potential investors alike see this decision by mCig and its management team as a sign of good things to come and demonstrate our commitment to reduce any harmful dilution toward our shareholders at such an early stage in VitaCig's development. I pride myself in putting shareholders first. I always have, and always will. I understand full well that most other companies in our position and in our space would not prioritize their shareholders, which is what this decision has made obvious.
In closing, we have narrowed our pick of potential candidates for the new CEO of VitaCig to three. We will make an announcement when a decision has become finalized. At that time, we will encourage the new CEO, following meeting QB status qualifications, to immediately put in paperwork to file for OTCQB status. Our VitaCBD™ CBD Beverage Division and new VitaCig flavors and products are also expected to be unveiled this fiscal year.
On behalf of the entire VitaCig management team, I would like to thank you again for your continued support. In closing, I wholeheartedly believe that we have the best talent, expertise, and strategic approach necessary to create dominance and value in everything that we are setting out to accomplish, and we look forward to reporting on our progress as we continue to execute these ambitious business plans.
About VitaCig, Inc.
VitaCig, Inc. (OTC PINK: VTCQ) is a technology company harnessing mobile vaporization technology for medical delivery applications. The company owns, manufactures, and distributes the VitaCig®, a nicotine-free device, as well as a leader in the development, marketing, and sale of ultra-pure CBD Oil tinctures, Edibles, and E-Liquids.
The company's products are sold online at: www.mcig.org, www.vitacbd.com, www.vitacig.org, or through affiliate websites and select brick and mortar locations.
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.