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Marijuana

mCig Inc (OTCMKTS:MCIG) Enters A Pact With Amare Technologies, Inc To Supply Adjustable LED Hardware And Software To Cannabis Growers

mCig Inc (OTCMKTS:MCIG) has entered a pact with Amare Technologies, Inc to source adjustable LED hardware and software and supply to the growers of Cannabis through CBJ Distributing Inc, its wholly owned subsidiary.

As per the terms of the accord, CBJ will stock the commercial LED fixtures of Amare along with in-store displays. The cloud based software smartPAR of Amare will control the in-store displays. The professional sales team of CBJ will provide the domestic support for these innovative products to target the cannabis market.

Chief Executive Officer of mCig, Paul Rosen Berg said the alliance with Amare exhibits its commitment to fulfill the needs of customers by providing modern high tech LED products. Till now, the local growers of cannabis do not have options to access the adjustable LED software/ hardware in the domestic store. Now, mCig has access to the distribution network of Amare to source and sell these advanced LED products.

LED horticulture lighting solutions

Since 2014, Amare has been meeting the needs of cannabis growers by providing value added and high performance LED horticulture lighting solutions. Chief Operating Officer of mCig and Chief Executive Officer of Amare, Victor Nguyen said the company is introducing the powerful and efficient horticulture solutions – the SolarBar800 (Bar8) for the cannabis growers. The products meet the high productivity and high ppfd needs of commercial cannabis cultivation.

Specifications

Bar8 features an electrical efficiency of 2.9J and 900 Watts. It comes with 24 to 60 inches optional lenses, flexible mounting options for multi-tier and single tier applications. The design philosophy includes precision and innovation.

CBJ is engaged in the distribution of cannabis supply items including child proof envelopes, jars, labels, and vapes pens to the dispensaries in Nevada. The company is expanding its presence to central and southern California.

Results

The sales of mCig and its subsidiaries have declined marginally to $763,084 in Q1 2019 from $780,241 in Q1 2018. Its gross profits also declined marginally to $252,889 in Q1 2019 from $311,915 in Q1 2018.

In an update to the shareholders, the president informed that mCig will focus on supplying infused product makers, extractors, big multi-state operators and brands with a variety of services and products to meet the critical needs in supply chains.

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Marijuana

mCig Inc. (OTCMKTS:MCIG) Beats Estimates In The Last Quarter To Record 650K In Sales Revenue Through Cannabis Supply Division

mCig Inc. (OTCMKTS:MCIG) lost 2.97% in the last trading session to close the day at $0.17 after hours of trading following the announcement of record revenue from its Cannabis Supply division.

The company indicated that its subsidiary Cannabis Supply in the cannabis supply sector had witnessed considerable growth and in the last quarter it had record sales that exceeded estimates. Cannabis Supply represents the company’s expansion strategies into the provision of supplies to growers, distributors, manufacturers as well as retailers in the cannabis industry.

Record sales since inception

Since the inception of the company, this quarter’s sales are the highest for the company in which they recorded revenue of approximately $650K. The company represents sales of mCig’s cannabis products in the states of California and Nevada. Following the record revenue for this quarter the company is on course of beating analyst estimates and exceed $2.5 million in cannabis products sales for their fiscal year expected to end on 30 April 2019.

The high sales for the division can be attributed to its first large order that it received from Cannabis Company in Canada which they expect to honor in the next quarter.

Expansion to other states

As part of their growth strategy, the company to different states and internationally and they are poised to attain record sales in the upcoming quarter as more customers continue to order compliance supply from the subsidiary. mCig has expanded into California and other states and last month they signed an MoU with a California firm for growing processing as well as distribution cannabis products in the state under the licenses of mCig.

Speaking on the record revenue, MCIG CEO, Paul Rosenberg, stated that the Cannabis Supply management team had done a fantastic job to achieve record sales in the quarter thus expending the business. He added that the company had gained a foothold over its competitors in cannabis supply because of the wide range quality selection of product the company offers, great customer service as well as their competitive pricing. Going into 2019, mCig expects the Cannabis Supply Division to continue with the momentum of the last quarter and achieve more sales.

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Marijuana

mCig Inc (OTCMKTS:MCIG) launches a New CBD Pet Line and E-commerce CBD Market

mCig Inc (OTCMKTS:MCIG) has launched Artax, a new CBD Pet Product line. The company has also unveiled an e-commerce CBD market. In a statement during the launch, MCIG CEO Paul Rosenberg said that they have been working on the new product for some time. He noted that the move was motivated by the growing pet market as well as its importance both to the domestic and global market.

Safe ways of improving animal health

According to the company, many lovers of animals are always seeking for natural, effective and safe ways of improving the wellness and health of their pets. According to a recent study, there has been a significant growth in the pet supplement market. The market is expected to grow by 5% between 2018 and 2022.

Some of the components in the new CBD pet line include oral sprays, shampoo, oral drops and organic CBD infused pet treats. These product are made using formulations crafted by industry experts and are made from high-quality, organic and human-grade hemp extracts.

The new e-commerce market

In addition to the new product line, the company launched a new e-commerce market. The market will list an extensive collection of more than 100 of the world’s best cannabis brands. Some of the products to be listed include pet products, topical products, capsules, concentrates, edibles and CBD vape. The new platform will partner with other players in the industry to offer premium CBD products in several form factors and concentrations.

The company recently gave an update on its ongoing NYAcres Project, which sits on 40 acres of land. On the site, the company has grown Cherry Wine, a CBD concentrated strain. The company has projected harvests amounting to 55,000 pounds of flower. This will be used to extract organic CBD oil.

mCig Inc does its cultivation on five sites which are part of a 20-acre farm. The farm has well-built irrigation and maintenance facilities to protect the plants from the effects of weather. The farms are also designed in such a way that they allow cross pollination with organic bees. This helps to produce traits with desirable effects.

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Marijuana

mCig Inc (OTCMKTS:MCIG) Wins Exclusive Management Contract From a Costa Mesa, CA based Client

mCig Inc (OTCMKTS:MCIG) has announced the winning of an exclusive contract from the Costa Mesa, California based client. The company now has a total of 3 cannabis cultivation and manufacturing facilities.

The company’s “construction/ consulting division” is assigned the task of managing the operations in Costa Mesa, Sacramento, and Palm Springs in California. As per the terms of the accord, the client will pay 10% of all of the proceeds to mCig.

The construction division of mCig is working on a suitable design for the facility in California where the company has already obtained a license for the cultivation, production, and distribution of cannabis products.

Chief Executive Officer of Grow Contractors, Rob Kressa stated the company is maintaining a very competitive footprint in California. He further said the company is working to form a syndicate of clients to expand access to the much-needed services and make it a profitable and successful operation for the clients and mCig as well. Grow Contractors is one of the consultants, architects, engineers, and contractors of mCig.

mCig Inc Publishes an Update on New York based Industrial Hemp Project

mCig has published an update on the industrial hemp project proposed on an area of 40 acres in NY. The company has sowed 80,000 industrial hemp seeds this spring. The company is forecasting a harvest of fifty five thousand pounds of the flowers for the CBD extraction that can be used as an ingredient in hemp oil products.

NYAcres is planting industrial hemp seeds outdoors in a 40 acre area. The Company is planting the organic seed strains such as Berry Blossom, Cherry Wine in organic certified fields to get a yield of between 12 and 15% of the CBD concentration. It is only using the Department of Agriculture registered 100% organic and 100% hemp strains to harvest quality CBD.

Free from Harsh Chemicals and Pesticides

The organic certified seed strains are free from harmful chemicals and pesticides. The company will not use genetically modified products. The organic CBD oil produced from the cannabis flowers are used in the wellness products.

The maximum THC level in the flowers is estimated at 0.3% and complies with the NY state regulations.

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Marijuana

mCig Inc (OTCMKTS: MCIG) Receives Three Licenses From California City, CA; Secures Exclusive Contract In Sacramento

mCig Inc (OTCMKTS:MCIG) recently announced that it has officially received three licenses from the California City, California that allows it to cultivate, manufacture and distribute recreational cannabis all through the state. Incidentally, just a few days ago, the diversified company providing dedicated service in the legal cannabis market, successfully secured a management contract of minimum three years with a Sacramento client through its subsidiary Grow Contractors Inc. (GC).

Grow Contractors To Get 10% Of Net Profit Through Sacramento Deal

According to reports, the Sacramento project in which the GC team secured all the required construction permits and competitive city licenses is currently in process and is almost 50% completed. GC will be providing consulting, engineering and design work facilities to the Sacramento client for carrying out production and extraction at the facility.

The project is expected to generate around 10 t0 12 million revenue every year and 10% of its net profit will go to the contractors of GC every month. The company will be using the best and the most advanced lighting including Asgard Concepts and the Thor 1000W HPS. It will also include two complete extraction lines for ethanol, packaging machinery, and automated filling. Earnings reports of GC indicate that the Sacramento deal has already generated revenue of 200k in the current financial quarter. The CEO of GC, Rob Kressa said, “This facility is the third in our plan to create a network of manufacturers and cultivators that are able to produce a better product at a more competitive price.”

MCIG Awarded Three Licenses By California City, CA

 California City, California has awarded three licenses to MCIG. The state authorities went through 300 applications and awarded only 16 licenses this time. And it is quite remarkable that MCIG has received 3 out of those 16. The CEO of MCIG’s subsidiary GC, Kressa said that now they will develop a state-of-the-art 30,000 square foot property into “Smart Greenhouse” facility. It will include a 2,000 square foot manufacturing facility for creating extracts and a small distribution center from where the products will be moved to the retailers. As per the company’s estimate, once the facility starts operating in full, it will bring an annual income of around $20M to MCIG.

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Marijuana

mCig Inc (OTCMKTS:MCIG) Supply Unit Sales Hit $100,000 In A Week

mCig Inc (OTCMKTS:MCIG) posted that one of its unit named the Cannabis Supply Division hit sales of $100,000 in merely a week’s time. The marijuana industry in the state of Nevada has exceeded all outlooks since the cannabis sale for recreational applications came at $3 million in merely the first 3-days of this month.

The highlights

mCig’s cannabis supply unit was one of the major suppliers of state obligated packaging for grow centers and dispensaries in state. Prior to July 1, the firm’s supply unit announced its sales team, client base and product line, enhancing its revenues 100% MoM and growing inventory in anticipation of the decriminalized recreational industry. Since this has materialized in Nevada, the supply unit sales have grown 300%.

Dependent on latest positioning in the Nevada market, mCig team projects sales from the supply unit to hit $2.5 million to $3 million in the underway fiscal year. Charles Fox, who is the Chief Executive Officer of Cannabiz Supply, posted that the cannabis market growth is unrivaled to anything they have noted in last 45 years in business.

The firm’s supply unit operation has advanced from offering childproof bags just a few months ago, to offering a full line of items, comprising cannabis cultivators, manufacturing supplies, private and generic labels, extractors, vape products, custom packaging, jars and cartridges and state mandated supplies to around every grow center and dispensary in Nevada.

mCig runs business from its headquarter located in Henderson. It comes in the elite group of diversified firms servicing the decriminalized cannabis, CBD and hemp markets via its lifestyle brands. The firm focus remains on becoming the prime distributor of products, services and know-how to meet the many needs of the respective industry.

On Thursday, the shares price of mCig surged around 0.80% to finish the day at $0.185. The traded share volume was $1.11 million against the average share volume of around $1 million.

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