mCig Inc OTCMKTS: 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.
On January 31st, 2019 mCig Inc annouced that its subsidiary, representing MCIG’s expansion into providing supplies to growers, manufacturers, distributors, and retailers in cannabis, continues to see unparalleled growth and has once again exceeded its best quarterly sales ever.
The highest quarterly sales since inception, with Revenues around $650K, representing sales in Nevada and California, putting it on mark to exceed $2.5M in sales for the fiscal year ending April 30
The division received its first large order from a Canadian Cannabis Company, which it intends to fulfill in the upcoming quarter. With expansion to California, other states, and internationally, MCIG is poised to achieve record sales, as more clients are ordering compliance supply from Cannabis Supply
“The management team of Cannabis Supply has been doing a great job to expend the business and achieve sales targets. We are winning business from other cannabis supply companies by offering our clients wide selection of quality products, competitive pricing and great customer service. We all see 2019 as a great year for our Cannabis Supply Division, ” says Paul Rosenberg, CEO of MCIG.
On March 27th, 2019 the company grabbed everyone’s attention when it received approval from the Financial Industry Regulatory Authority (“FINRA”) for the Obitx, Inc. dividend, and spinoff to MCIG’s shareholders.
The Record Date for the dividend has been set for December 11, 2018 (12/11/2018). This is the official date when a shareholder must had been recorded as a shareholder of MCIG to be eligible for the dividend. The Payment Date for the dividend has been set for April 1, 2019.
OBITX has initiated the 15c211 process for the listing and trading of its shares and will update its shareholders once listing approval and a trading symbol has been obtained by FINRA.
mCig Inc on March 19th, 2019 annouced 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.