HENDERSON, NV / ACCESSWIRE / June 13, 2017 / mCig Inc. (OTCQB: MCIG) a leading distributor of technology, products, and services in the Cannabis sector is pleased to announce its VitaCig division's new exclusive partnership contract for the territories of Australia and New Zealand, valued at approximately $1.0 million in guaranteed orders over three years. In addition, our Japanese partner's success 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.
During the last few months, MCIG's VitaCig division has reclaimed non-performing franchises to enhance shareholder value. As a result, the sole corporation operates under the VitaCig name and management with full control and ownership of all European distribution channels, the previous branding for VitaStik, EU Trademark (which includes all member states of the EU), 14 domain names (including vitastik.de, vitastikofficial.com), and all other European trade secrets of the Vitastik brand in all the member states of the European Union; with additional trademark protection in Australia, Mexico, and Turkey. MCIG will continue to aggressively defend its enterprise value of VitaStik as a brand in addition to bringing low-performing divisions into compliance with our contractual terms.
MCIG's focus on aggressive international expansion for VitaCig continues to pay off and enables control of its future in Europe while moving forward to work with other franchisers to develop and expand the company.
Plans for MCIG's next target market regarding international distribution for its VitaCig product line are focused in the Middle East, where the company is currently in talks with potential partners from Israel, Iran, Lebanon, UAE, Saudi Arabia, and India.
"MCIG continues to add to its IP and asset portfolio, and is working aggressively to protect its VitaCig brand and role as the industry leader in the disposable vitamin, essential oil, and e-cig industry. With the FDA and International regulatory agencies taking a strong stance on nicotine and tobacco related products, we are more confident than ever in the value and potential of our nicotine and tobacco free VitaCig brand and product line. Our VitaCig brand and reputation continues to expand throughout the world, and remains to be a significant revenue driver for MCIG. Our decision to take control of VitaCig, and roll the company and assets into a subsidiary of MCIG, continues to prove that it was the right decision to make for the company and our shareholders," said Paul Rosenberg, CEO of mCig.
For more information on Vitacig, please visit us at www.vitacig.org | vitacig.eu.com.
About Vitacig
The science behind Vitacig's world famous blend was first launched back in 2014. VitaCig is the first and original electronic vitamin administered through an essential oil diffuser.
Vitacig is a great alternative to cigarettes and works with certified constituents and natural components from the highest quality grade available.
Vitacig currently operates in several countries including United States, Canada, China, Japan, Malaysia, Europe and Russia, with recent operations and distribution in Australia, New Zealand, Mexico and Turkey.
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 tech team and has recently entered the tech space to satisfy its evolving role in technology and in keeping it's 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 our websites:
www.mciggroup.com
www.growcontractors.com
www.420cloud.com
www.420.cloud
www.420jobsearch.com
www.weedistry.com
www.cbd.biz
www.vitacig.org
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.
Contact:
Paul Rosenberg
CEO
[email protected]
SOURCE: mCig, Inc.