JACKSONVILLE, FL, Dec. 12, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- mCig Inc., (MCIG), a diversified company servicing the legal cannabis markets, is pleased to announce that it has officially received its California Type-11 Distribution Temporary license from the State of California. Cal Acres Inc., a California company with majority ownership by MCIG, has officially received their license from the Bureau of Cannabis Control, which allows them to purchase, repackage, transport, and sell cannabis products.
Although construction is not complete at the California City facility, Cal Acres may utilize the license to purchase and store product at rented facility space for immediate revenues. Cal Acres is expecting to receive its temporary cultivation and manufacturing licenses as soon as the review process is complete, which should be in the next couple of weeks.
“Obtaining a temporary distribution license allows us to interact with the thousands of California Cultivators, Manufacturers, and Distributors… It’s a new launching pad for our future brands,” says Paul Rosenberg, CEO of MCIG Inc.
Most operators in California use a temporary license to do cannabis business and will likely do so well into 2019 since the annual licensing process takes much longer. The temporary license has the same abilities as a full annual license. Cal Acres will pursue permanent annual licenses through the next year as operations develop.
About MCIG Group (MCIG)
Headquartered in Jacksonville, Florida, mCig, Inc. (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.
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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.
Attn: Chief Executive Officer