Updates Shareholders on Latest Development
JACKSONVILLE, FL, March 19, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- mCig, Inc. (MCIG) a leading distributor of innovative products, customized packaging solutions, technologies, and services for the global medical cannabis industry, is pleased to announce that its wholly owned subsidiary, CBJ Distributing, is expanding its sales reach by introducing to its clients in Nevada and California a new in-house developed product line of hemp pre rolled cigarettes and CBD vape pens with a proprietary terpene rich formula.
CBJ Distributing saw its sales increase dramatically during the last year. The company distributes its line of cannabis supply items, such as: labels, jars, child proof envelopes, vape pens, to almost all dispensaries in Nevada, while enlarging its market share in southern and central California. After carefully analyzing the CBD market, CBJ Distributing decided to expand its product line by joining this huge opportunity of selling hemp products to smoke shops and dispensaries around the Country.
“We have a strong team of professionals with boots to the ground, following the trends, growth, and needs of the market through client-based communication and customer service. Since its acquisition in May 2018, CBJ Distributing has consistently been the strongest division of MCIG, with a constant and continued growth in sales and profits. Our management team at CBJ Distributing gets results!” said Paul Rosenberg, CEO of MCIG. Mr. Rosenberg went on to say, “During the past month, the MCIG officers and Board of Directors have had multiple meetings in our Las Vegas office with the CBJ management team where we have identified the direction MCIG must take in order to be a top cannabis company going forward.”
Management is also updating its shareholders on the status of OBITX dividend. The company is working very closely with FINRA to finish the paperwork and distribute the OBITX shares to the MCIG shareholders. We will continue to monitor this process and keep our shareholders informed of the progress.
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 be the leading distributor of technology, products, and services to fit the needs of a rapidly expanding industry. mCig, Inc. employs a world-renowned tech team and has recently expanded its products and services to satisfy its evolving role in cannabis and hemp markets.
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.
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.
Attn: Chief Executive Officer