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mCig Inc (OTCMKTS:MCIG) Capitalizing On All Aspects Of The Cannabis Industry

mCig Inc (OTCMKTS:MCIG) Capitalizing On All Aspects Of The Cannabis Industry
Written by
Richard Sandle
Published on
July 25, 2017
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mCig Inc (OTCMKTS:MCIG) is in the middle of a breakout the started on July 11, 2017. The stock price went from $.1830, to a high of $.2749 on July 19, 2017. The stock has retraced to $.2410 where it is currently trading.

Several favorable press releases about the Company preceded the breakout, along with the official commencement of the legal sale of recreational marijuana in Nevada.First, a little background for those not familiar with the Company. Headquartered in Henderson, Nevada, mCig, Inc. is a diversified holdings company for various subsidiaries, focusing on technology and consulting, grow construction and cultivation, biotech, vaporizers, dispensary supplies, payment processing, and more. The Company services the legal cannabis, hemp and CBD markets.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 an 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. employs a world renowned tech team and has recently entered the tech space to satisfy its evolving role in technology and in keeping its growing following up to speed.Grow Contractors is mCIG's group of Cannabis consultants, engineers, architects, contractors, and grow experts combining over 100 years of experience and talent to bring clients efficient and high-quality grow spaces. mCIG’s Grow Contractors division construction project portfolio continues to broaden. The $3.5M Solaris project in Nevada has completed all the required government approvals and construction 330,000 square feet of cultivation and extraction facility in the Las Vegas area is well under way. Once fully functional, Solaris is sure to have a major impact on the cannabis market in Nevada, creating brand awareness and securing Grow Contractors to be the most reputable company for design and construction of marijuana cultivation facilities in Nevada.GWGA (formerly Sin City) was completed by Grow Contractors before the recreational deadline in Las Vegas. It is now commencing cultivation operations and coming online to sell to the masses. Although a relatively small facility at only 6,500 square feet, the facility is fully optimized with vertical growing technologies to produce as much product as that of a 10,000 square foot facility. Only the finest boutique strains will be grown here to help compete with larger producers. Grow Contractors also recently began work on 40,000SF of Greenhouses for Acres Farms in Amargosa, Nevada following a signed contract and design phase approvals.On Jun 20, 2017 Grow Contractors announced that it signed a management contract to staff and manage a 15,000 square foot indoor cultivation facility in Las Vegas, Nevada for R.H. Medical. The Company will provide R.H Medical with operational support to the facility.The $1.6M, 115,000 square foot cultivation project located just outside of Portland Oregon is 90% complete. Once completed, this facility will have the capacity to produce 500 pound harvests monthly.On the sales side of the business, on Jul 6, 2017 mCig Inc announce that one of its divisions, the Cannabis Supply Division, completed $100K in sales during the last week of June. The marijuana market in Nevada has exceeded all expectations since the sale of cannabis for recreational purposes generated $3M in just the first 3 days of July. MCIG's cannabis supply division was one of the first suppliers of state mandated packaging for dispensaries and grow facilities in Nevada. Based on current positioning, only in the Nevada market, management anticipates revenue from the Supply Division to reach $2.5 - $3 million in the current fiscal year. Cannabiz Supply, CEO, Charles Fox stated:

"The growth of the cannabis industry is unparalleled to anything I have seen in my 45 years in business. MCIG's supply division business has grown from selling childproof bags just a few months ago, to offering a full line of products, including cannabis cultivators, extractors, production supplies, custom packaging, generic and private labels, cartridges, jars, vape products and state mandated supplies to almost every dispensary and grow facility in the state of Nevada."

On the international front, mCIG’s VitaCig division announced a new exclusive partnership contract for the territories of Australia and New Zealand, valued at approximately $1.0 million in guaranteed orders over three years. VitaCig is the first and original electronic vitamin administered through an essential oil diffuser. Also, the success of the Company’s Japanese partner has been tremendous since their official launch almost one year ago, and has committed to an additional $1.0 million investment into the VitaCig brand to expand their original contract to also include East and Southeast Asia. These expanded terms adds an additional $1.5 million in guaranteed orders over the next three years and increases VitaCig division's total revenue outlook to over $2 million in FY2018.Financial reporting remains unchanged from our last review of mCig Inc. Current market capitalization stands at $89.57 million, on 389.09 million shares outstanding as of July 21, 2017.mCig Inc’s strategy of assuming a well-diversified position within the various aspects of the marijuana industry is serving the Company well. As the industry grows, mCig will capitalize on multiple revenue streams. This will certainly capture the attention of investors. We will be updating our subscribers as soon as we know more. For the latest updates on MCIG, sign up below!For the complete story, check out our complete coverage.Image courtesy of wizardsleeve666 via FlickrDisclosure: We have no position in MCIG and have not been compensated for this article.

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