HENDERSON, NV--(Marketwired - Sep 28, 2016) - mCig, Inc. (OTCQB: MCIG), a diversified company servicing the legal cannabis,
hemp, and CBD markets, announced today its Chairman and CEO, Paul Rosenberg, is pleased to announce he has voluntarily returned 5
million Series A Preferred shares, representing 50 million underlying common stock to the company treasury. The process will be
completed by September 30th, 2016.
"At MCIG, our shareholders are important to us and by returning 50 million common shares back to the treasury we instantly
create additional value to the shareholders & health of the company. The return of these shares demonstrates management's desire
to maintain a capital structure that supports growth without resorting to the increasing of our authorized shares. This is an
integral part of MCIG Inc.'s long term corporate strategy. By unlocking shareholder value first, we lay a foundation that is
poised to grow in our target markets," said Paul Rosenberg, CEO of mCig, Inc.
About mCig, Inc.
Headquartered in Henderson, Nevada, mCig, Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp and
CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to industry leading large scale, full
service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly
expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp
and CBD markets, with broader expansion to take place once federal laws change. For more information visit www.mcig.org.
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.
This release contains a non-GAAP disclosure, EBIDTA, which consists of net income plus interest expense, net, provision for
income taxes and depreciation and amortization. This term, as the Company defines it, may not be comparable to a similarly
titled measure used by other companies and is not a measure of performance presented in accordance with GAAP. The Company
uses EBIDTA as a measure of operating performance. EBIDTA should not be considered as a substitute for net income.