LAS VEGAS, NV--(Marketwired - Nov 29, 2017) - mCig, Inc.
(OTCQB: MCIG), a diversified company servicing the legal cannabis markets, announced today that the company has entered into a
definitive Joint Venture agreement with Empire Farm's FarmOn!
Foundation in Copake New York. Together the partnership has formed NYAcres,
Inc., a corporation 80% owned by mCig, Inc. focused on hemp propagation, production, research, and distribution of organic
industrial hemp and hemp by-products.
The company is pleased to announce that cultivation process will start immediately on the initial harvest of 40 acres,
allowing for a second harvest in late fall. The program will expand each year over 3 years, scaling up to 120 acres of organic
industrial hemp bi-annually.
Uniquely located on the corner of three states, New York, Massachusetts and Connecticut. Empire Farm is a certified organic
220-acre working farm, home to the FarmOn! Foundation, founded in 1830 and associated with the Astor family. Nestled in an
agricultural community in the heart of the Columbia County, the FarmOn! Academy is in partnership with SUNY and Cornell College of Agriculture and Life
Sciences, providing young adults the opportunity to learn agriculture on an established working farm. Now home to NY Acres,
Inc., the farm also offers 4 four-season heated hi-tunnel greenhouses lending its rich 'black gold' soil, suitable for hemp
cultivation.
FarmOn! Foundation includes a strong collaboration of professional farmers, educators, influencers, supporters, nutritionists,
students, and community leaders who believe in investing in the future of local agriculture by helping to rebuild local
economies, enabling them to be resilient with sustainable agriculture. FarmOn! Foundation partners include SUNY, Cornell
University, Google NYC Farm to Table Project, TasteNY, John Varvatos, Bronx Zoo, NYS Department of Agriculture & Markets, New
World Foundation/Local Economies Project, Bloomberg Philanthropies, Christy & John Mack Foundation, Hudson Valley Fresh, Maple
Hill Creamery, Yelp, Whole Foods Market, Modern Farmer, NBA, The Walt Disney Company, MLB at Yankees SI, Applegate, Edible
Schoolyard Project and LetsMove.org
Industrial hemp is projected to increase 700% by 2020. New York State has focused on the economic development and expansion of
Industrial Hemp Research Permits under Governor Andrew Cuomo, giving mid-size farms the opportunity to implement sustainability
and organic practices to promote efficiency and profitability. The partnership between mCig and FarmOn! Foundation brings a
significant, mutually beneficial opportunity, investing in infrastructure to help rebuild rural American farming.
"The opportunity between mCig and FarmOn! Foundation fosters innovative, profitable and sustainable farming. We look to
industrial hemp as an economic driver in the great state of New York, with the leadership of Governor Cuomo supporting our
agricultural community, having a vision to rebuild for sustainability and rural prosperity through research and investment," said
Paul Rosenberg, CEO of mCig.
The Chairwoman of FarmOn! Foundation and CEO of NYAcres, Inc., Tessa Edick, brings a lifetime of agricultural and business
experience, strategic partners and a wealth of knowledge in food and agricultural cultivation to the joint venture. Tessa Edick
is connected to a lifetime of practical farming, is an established author, school food activist, food entrepreneur, founder and
executive director of the FarmOn! Foundation, a 501(C)3 non-profit organization and public charity.
In 2016, Edick was appointed by Governor Andrew Cuomo to the Task force on Safe and Healthy Foods to develop NY Grown &
Certified brands, and in 2015 appointed by executive order to the New York State Council on Food Policy and the Advisory Board
for Edible Schoolyard by mentor Alice Waters. Edick was featured in the Oprah Magazine "O" list twice, as well as 16 SFT Sofi
Awards (the Oscars of food). Edick also founded the Culinary Partnership, where her guidance helps both celebrity chefs and
producers launch their recipes to retail shelves. In 2010, Edick started Friends of the Farmer Festival in the Hudson Valley and
established the FarmOn! Foundation, as the benefactor, committed to raising awareness and respect to farmers, the real stars in
food, while educating the public on the importance of honest food-choices and better school lunches, contracting dairy farms in
the districts to supply school milk. FarmOn! Foundation offers programs for adults and youth, including a SUNY accredited Farm
Academy, the theme of which is fostering the entrepreneurial spirit in agriculture, thereby supporting the local growing
community in the process. In 2014, through a generous contribution from the Christy & John Mack Foundation, Farm On! Foundation
found its home at Empire Farm.
"The oldest honorable profession, farming, needs to be re-established for our health; for our children; and for the economy of
our local communities. Only when the costs of trucking, storage and distribution is redirected to the local Farmer, will farming
once again become a profitable business...and attract future generations of farmers," says Tessa Edick, CEO of NY Acres.
"Edick's FarmOn! movement, has cultivated and nurtured a broad network of supporters, partners and beneficiaries within New
York State as a pilot program that is being scaled and implemented nationally with Google, NYC Farm to Table Project," says Mike
Hawkins, CFO of mCig.
About the FarmOn! Foundation:
FarmOn! Foundation is a 501(c)(3)non-profit organization and public charity that creates and funds youth
educational programming and is working to preserve family farming in America.
FarmOn! Foundation is dedicated to bringing awareness to food choices and sources and reinvigorating respect for farming,
inspiring young people to choose agricultural careers to create an economic engine connecting rural and urban marketplaces to
rebuild local economies.
MISSION: Inspiring, educating and preparing youth for successful careers in sustainable farming.
VISION: A world where a career in sustainable agriculture is valued and profitable.
FarmOn! Foundation is a 501c3 non-profit organization + public charity that creates and funds youth educational programming
and is working to preserve family farming in America. The FarmOn! Foundation is a movement dedicated to bringing awareness to
food choices and sources, reinvigorating respect for farming and inspiring young people to choose agricultural careers that will
create an economic engine connecting rural and urban marketplaces to build local economies. Join our movement today: http://farmonfoundation.org.
About MCIG Group (OTCQB: MCIG)
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, Inc. is committed to being the leading distributor of technology, products, and services
to fit the needs of a rapidly expanding industry. mCig, Inc. has transitioned from a vaporizer manufacturer to industry leading
large scale, full service cannabis cultivation construction company with its Grow Contractors division currently operating in the
rapidly expanding Nevada market.
mCig, Inc. also employs a world renowned technology team and has recently entered the tech space to satisfy its evolving role
in technology and in keeping its growing following up to speed.
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. With over seventy five years of experience combined between the key
players that make up the Cannabis Grow Contractors Division, mCig Inc. is proud to work with Cannabis Industry leaders and
provide broad and rounded solutions for legal growers nationwide.
For more information visit:
More about FarmOn! Foundation visit: www.farmon.org
For more information about mCig visit: www.mciggroup.com
Safe Harbour
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.