mCig Archives - Green Market Report

William SumnerWilliam SumnerApril 10, 2018
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3min10900

Today, mCig Inc. (MCIG) CEO Paul Rosenberg provided shareholders an update of the company’s operations and provided an outline for the mCig’s strategy for 2018.

Stock wise, the company has had a rough year so far, losing approximately 46% of its value since the start of 2018. However, the company has seen a slow recovery since the start of April, rising from $0.18 per share to $0.21 cents per share.

“With the recent growth in our business over the past couple of years we want to take this opportunity to thank our investors and shareholders for your investment and ongoing support in our Company. I feel it is important for us to continue to keep the market aware of our current projects and our strategic agenda for 2018 and well into the future,” said Rosenberg.

The company’s marketing consulting subsidiary, OBITX Inc., recently filed an S-1 registration statement in preparation for becoming its own publicly traded company. As the primary shareholder of OBITX, the company believes that OBITX has enough business to warrant a spin-off, due largely to its growing list of clients and the infusion of blockchain technology into its existing business models. Once the filing process is complete, the company expects to begin receiving shares from OBITX. First comments on the process have been received by the SEC, and a response from the governing body is expected by the end of April.

The company hopes to make 2018 the year that it begins to manufacture its own cannabis products, and to that end the company has submitted a licensing application on California City, California for the cultivation, production, and extraction of cannabis. A final decision on the application is expected by the end of the month. Additionally, the company has increased its efforts in the development of joint venture between NYAcres Inc., a subsidiary of mCig, and the FarmOn! Foundation. The NYAcres Project has placed its first order for hemp seeds and planting is scheduled to occur sometime this month.

In anticipation for first harvest, the company has been working toward developing a plan for its HEMP division, which includes the creation of direct to consumer products such as CBD pain relief cream, hemp CBD anti-aging and active-againg creams, and skin/coat care and wellness products for pets.

“I am truly excited about our future. When I look around at the extraordinary talent we have been able to assemble, I am truly humbled. I believe that will be the factor that sets us apart in 2018,” added Rosenberg.


William SumnerWilliam SumnerMarch 6, 2018
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4min11440
mCig

mCig Inc. (MCIG) announced today that its subsidiary, NYAcres Inc. will conduct a joint venture with FarmOn! Foundation, which was just granted permission to participate in an Industrial Hemp Agricultural Research Pilot program through the New York State Department of Agriculture & Markets. The company expects that first harvests, which will be grown on an initial 40-acre plot, will yield approximately 1,000 to 1,500 plants per-acre and should generate approximately $4 million in revenue. “Our Joint Venture with FarmOn! Foundation, puts MCIG in the CBD business in a big way and opens the door for growing, researching, developing premium hemp and CBD oil,” said mCig CEO, Paul Rosenberg, in a statement.

MedReleaf

MedReleaf (LEAF) today entered into an exclusive licensing agreement with Woodstock Cannabis Company, allowing the company to utilize the famous Woodstock brand in the Canadian market. Per the agreement, the company will grow and sell cannabis strains under the Woodstock Brand. The agreement comes just in time for the 50th anniversary of the iconic Woodstock festival, which is set to take place on August 15, 2019. “Woodstock is known as one of the most significant cultural and societal events of the 20th Century…We’re thrilled to partner with Woodstock on this exciting initiative” said Darren Karasiuk, VP Strategy at MedReleaf, in a statement.

Organigram

Organigram Holdings (OGRMF) announced today that it has received approval from Health Canada for the remaining 13 grow rooms for the company’s planned Phase 2 expansion of its cannabis production facility; bringing the total number of grow rooms to 23. Harvests for the Phase 2 expansion are expected to take place in the third week of April.

Kush Bottles

KushBottles (KSHB) announced today that the company has been chosen as the exclusive distribution partner for FunkSac, LLC’s line of FunkGuard products. Under the agreement, Kush Bottles will distribute FunkGuard products across KushBottles’ national platform as well as to existing FunkSac customers. “We are pleased to be selected as FunkSac’s exclusive distribution partner and look forward to offering our customer base with an even greater range of brandable packaging and compliance solutions,” said Kush Bottles Chairman and CEO, Nicholas Kovacevich, in a statement.

CV Sciences

CV Sciences (CVSI) announced that it has paid its February and March 2018 installment obligations, as defined under its March 1, 2017, Convertible Promissory Note. Under the agreement, the company must pay the original principal of $770,000 in cash or converted shares. By paying their monthly installments in cash, the company was able to avoid stock dilution. The remaining balance of the company’s debt is $322,400.


William SumnerWilliam SumnerJanuary 17, 2018
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4min21660

mCig, Inc. (MCIG), a distributor of products, customized packaging solutions, technologies, and services for the global medical cannabis industry, today announced the website launch of its blockchain focused company, OBITX Inc.

Focusing on identifying and investing in projects that combine blockchain technology with real-world applications, OBITX offers ICO advisory services, blockchain consulting services, and blockchain-related software development. As part of the company’s early investments, OBITX has begun to embark on cryptocurrency mining projects by securing a location and purchasing hardware to complete the task.

“Reminded daily how blockchain is the new platform leading to the next wave of innovation. The technology has proven to be reliable, decentralized, and transparent. It’s a disruptive technology having the ability to digitize, secure and incentivize the validation of transactions. Using our best acumen, we are able to identify, invest and incubate technology market leaders from the OBITX ecosystem,” said OBITX CEO, Alex Mardikian, in a statement.

OBITX to Launch KRYP ATMs and Marketing Tools

Over the next several days, the KRYP Network, a technology company that facilitates crytpocurrency exchanges and a partner of OBITX , will be launching their Initial Coin Offering (ICO). Hoping to capitalize on this growing billion dollar industry, OBITX has made plans to deploy KRYP ATMs, which allows individuals to buy and sell cryptocurrencies as well as make cash withdrawals, within the KRYP Network.

The consultancy arm of OBITX, ICOMethod LLC, has also begun working with several companies in preparation for launching their ICO. In addition, OBITX has developed several marketing tools to help assist companies hoping to enter the cryptocurrency and blockchain market. Those tools are as follows:

  • eHESIVE: a self-serve affiliate ad platform with costing per acquisition for cryptocurrencies and other business networks pairing publishers to advertisers with the proprietary traffic control system, sticky pools increasing site monetization.
  • Marketero: An HTML/ campaign based email newsletter service designed to engage and nurture new and current customers within the blockchain and other networks.
  • Latest PR: A press release manager for cryptocurrency sectors and digital investment., and funding rounds.
  • Blog Certified: A multichannel blog repository serving marketers, brands, and content publishers.

Blockchain Is The New Cannabis

mCig is just the latest cannabis company to jump into the blockchain technology. MassRoots (MSRT) has also branched out into blockchain  as the company eases away from being a pure social media company. The company believes that blockchain will be useful in improving seed-to-sale traceability and will explore that with its new point-of-sale system called MassRoots Retail.

Canadian-based LGC Capital announced this week that it was also creating a platform to utilize “the blockchain technologies to create a reliable and verifiable purchase and payment system and use the Internet of Things technologies to track cannabis product shipments so as to provide assurance to consumers regarding the sourcing and quality of products.”


StaffStaffOctober 19, 2017
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3min17700

Nevada-based mCig, Inc. (MCIG), announced that the company will spin-off its technology division GigeTech Inc. as a stand-alone public company. As a result of the spinoff, mCig shareholders will get shares in the proposed public entity based on their holdings in MCIG. mCig Inc. said in a statement that it expects to file the appropriate documents with the SEC within the next 45 days.

According to a company statement, “The implementation for a spin-off was originally planned from the beginning, during the initial establishment of GigeTech, Inc., MCIG’s technology subsidiary, which provides a wide range of services such as software solutions, advertising, e-commerce, advisory services and consultations, financial services, blockchain integrated technologies, product design, branding, and various other technology offerings.”

“We are astounded as to how quickly we have come to the execution of this plan. Many of our shareholders have probably wondered if we had a clear vision of where we want to go with MCIG. Rest assured we have! As we have begun the process of moving in the direction of cultivation, distribution, and production in both Nevada and California (while reviewing other states as well), we have systematically divested ourselves of businesses that will continue to provide us resources to achieve our end goal. These divestitures have and continue to create cash flow, allowing us to maintain our ‘ZERO TOXIC DEBT’ mantra. This solidifies our continued growth and will allow us to achieve a higher profit margin, thus increasing shareholder wealth,” said Paul Rosenberg, MCIG’s Chief Executive Officer. He went on to say, “Spinoffs are a great way to enhance shareholder value and it will continue to be a major part of our business model.”

The move will allow for GigeTech to expand its operations into other markets and industries while continuing to provide solutions and expand its services in the cannabis space. Most recently, GigeTech entered into an agreement for the use of its proprietary advertising technology with its first non-cannabis related customer.

mCig, Inc. is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. mCig, Inc. has transitioned from a vaporizer manufacturer to a large scale, full-service cannabis cultivation construction company with its Grow Contractors division currently operating in the Nevada market. Cig, Inc. also employs a tech team and has recently entered the tech space to satisfy its evolving role in technology and in keeping its growing following up to speed.

The stock has risen 140% over the past year and was lately trading at 16.5 cents.


StaffStaffSeptember 13, 2017
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3min12790

Colorado-based Green Dot Labs announced that it closed its Series A capital raising round with a $3.3 million investment from Tuatara Capital, L.P. Green Dot is located in Boulder and makes cannabis extracts.

CEO and Co-Founder Alana Malone said, “To date, Green Dot Labs has focused on developing quality-driven indoor cultivation and extraction methodologies and delivering high-end products to the Colorado market. Tuatara shares our commitment to producing quality cannabis products as well as our vision for innovation and regulatory leadership. We are confident that our partnership with Tuatara will support our company in reaching its full potential as a leader and standard-bearer in cannabis and concentrate production.”

The funding will be used to improve the cultivation and extraction platform in Colorado. A new extraction lab is projected to be finished in early October and the company said it would help to significantly expand production capacity. Green Dot also anticipates that its premium medical marijuana brand Black Label Nectar will debut in the adult-use market in October of this year.

Al Foreman, Partner at Tuatara Capital said, “In a highly-competitive concentrates market, Green Dot Labs has distinguished itself through its relentless pursuit of excellence. The founders have spent years perfecting their craft, and these efforts have driven Green Dot Labs’ peerless product quality in a market where the demand for high-caliber concentrates is stronger than ever. We look forward to building on Green Dot Labs’ strong foundation to further support innovation, growth, and new market expansion.”

mCig (MCIG) also announced that it is closing its efforts to raise $3 million, falling far short of that goal. The company raised over $1 million or roughly one-third of its target at 25 cents per share. The stock was lately trading at only 17 cents per share. The capital raise is set to end on September 30 and could be extended if the company deems it necessary.

The company announced its first quarter financial results last week, but did not do so in a formal filing and instead chose to use a press release. The company just filed its audited annual results for the year ending in April in August.



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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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