mCig Inc (OTCMKTS:MCIG) is seeing a spectacular rise up in recent days as pot stocks heat up across the board and once again become the hottest thing in small caps. When a stock such as MCIG starts making moves Investors need to pay attention; this one has a long history of epic moves running from subs to highs near a dime last year.
MCIG operates in the red hot Marijuana industry that has quickly turned into a multi-billion dollar massive growth market that is sweeping across the US and Canada with many new states legalizing the drug including Oregon and California likely next. Medical marijuana products in the U.S. alone are projected to generate an estimated $30-35 Billion in revenue by 2020.
mCig Inc (OTCMKTS:MCIG) is a leading provider of advanced technologies and solutions to the global cannabis industry. mCig manufactures and markets best-selling portable and home vaporizers, extraction related equipment, CBD Rich Hemp Oil-derived products, and related nutraceuticals based on natural compounds found in Cannabis and Hemp plants.mCig Inc (OTCMKTS:MCIG) owns the mCig and Vapolution brands, and has a 47% stake in VitaCig (VTCQ), makers of the VitaStik, a disposable vitamin vaporizer. The company believes that a well-regulated marijuana industry is emerging as more states follow the lead of Alaska, Colorado, Oregon, and Washington in legalizing marijuana. A similar trend is developing within the CBD and Hemp industries following overwhelming consumer demand.
The press release continues ”mCig is also in the final stages of bringing the exciting, innovative, brand-new organic em-j product to market. em-j, which is infused with Cannabidiol (CBD), is one of the many products that the mCig pharma division has developed using CBD (a list which already includes a successful line of oils, tanks, and waxes). The highly anticipated em-j product will be available to customers in a few weeks, after a delay to further refine the formula used in the new product. mCig made the decision to delay the product release to ensure that the final em-j product brought to the market met the standard applied to all products in the mCig line, and mCig now has the capacity to be able to bring similar products to market much more quickly.
The mCig construction division has its first project entering into contract, an exciting milestone for the division which should prove to be a launching board to capitalize on the multitude of opportunities found in this rapidly growing space.
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The mCig extraction division has begun production of our first Supercritical CO2 extraction unit, which will provide a high-performance, commercial-grade product for customers. This effort is being led by the mCig Chief Research and Development Officer Mike Snody, who has extensive experience in this space through his 25 years with Exxon Co. USA, building offshore platforms, pressure vessels, pipelines, and refineries throughout the US, Russia, Mexico, and Japan.
In other exciting innovation news, the mCig technology division has finally finished the Ultrasonic which is currently being priced for production, mCig is close to finalizing our first software partnership, and is working to find solutions to solve payment and financing issues for legal growers and dispensaries through an innovative exchange using bitcoin.
On October 6 MCIG announced it has entered into an agreement to manage the phase 1 construction of a 24,000 sq. ft. high tech desert greenhouse and a 10,000 sq. ft. production facility in North Las Vegas, Nevada with Solaris. The project has an expected completion date of July 2017 and has a fully funded phase 1 budget of $3,500,000.
Scalable Solutions, Inc., has received $100,000 from Solaris in the form of a non-refundable deposit to begin this project. This facility is completely state of the art and a testament of Scalable Solutions progressive designs & execution. The desert facility is fully automated with the most advanced and efficient agricultural technology available for cultivators in the cannabis space. Scalable Solutions will oversee the construction from start to finish.
“As we begin the first of many phases with projects such as this, we are elated to continue our expansion side by side our current & future clients. These construction projects have the ability to last multiple years as these multi-acre sites are built out to meet growing demand,” said Jori Olsen, VP of Sales. “Greenhouse facilities are the wave of the future, especially in an ecosystem as unique as Nevada’s. We look forward to many more projects as we solidify our foothold on the indoor and outdoor cannabis cultivation market.”
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Currently trading at a $41 million market valuation MCIG does have a decent looking balance sheet and virtually no debt with small but growing revenues. MCIG is one of the original pot stocks with a long history of making spectacular moves when the sector heats up. MCIG operates out of California and is well positioned to cash in on the booming pot market. Investors are looking for the Company to diversify and expand their footprint into the legal cannabis, hemp and CBD markets. We will be updating on MCIG when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MCIG.
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Disclosure: we hold no position in MCIG either long or short and we have not been compensated for this article.