mCig Group
HENDERSON, NV — (Marketwired – July, 17 2017) – mCig Inc., (OTCQB: MCIG), a diversified company servicing the legal cannabis, hemp and CBD markets, is pleased to announce the latest project updates for Grow Contractors (its construction and consulting division), in addition to the latest expansion of its cannabis supply division into the California cannabis market with record sales driven by recent recreational legalization in Nevada.
Construction and Consulting Services Update
Indicative of the marijuana shortage witnessed in Nevada as recreational use of cannabis went into effect, Grow Contractors is set to shatter previous sales record numbers. Furthermore, with its recent operations in taking on cultivation management contracts, MCIG has delivered on its game plan for cultivation and production ownership while mitigating risks through its consulting services.
“Grow Contractors is doing exceptionally well, building faster and taking on more projects, with years of growth ahead. The recent influx of requests in Nevada alone will keep us busy in the foreseeable future. Nevada will be working many years to fulfill the demands of this budding industry, and Grow Contractors will be there to support and provide service along the way,” says Robert Kressa, CEO of Grow Contractors.
Some updates to mCig’s Grow Contractors division are as follows:
Nevada Projects
The $3.5M project known as Solaris has been widely anticipated by the entire cannabis industry. Ask about Solaris and chances are someone has heard of it. Boasting over 330,000 square feet of cultivation and extraction space, it will be the largest cannabis facility in Nevada, designed for mass production. With all the required approvals having been completed, Solaris is well into construction! Utilities are being connected and concrete is being poured! We will be utilizing the latest dutch-style a-frame construction along with desert growing techniques designed by the industry’s finest desert vegetable production experts. To maintain proper temperatures in the Las Vegas desert environment, we created a unique design for climate control which will be a standard for future facilities.
Once fully functional, Solaris is sure to cause some massive waves in the industry, creating brand awareness and securing Grow Contractors to be the “go to guys” for design and construction in Nevada.
GWGA (formerly Sin City) was completed by Grow Contractors before the recreational deadline in Las Vegas. It is now commencing cultivation operations and coming online to sell to the masses. Although a relatively small facility at only 6,500 square feet, we have fully optimized the facility with vertical growing technologies to produce as much product as that of a 10,000 square foot facility. Only the finest boutique strains will be grown here to help compete with larger producers.
We have expanded our standard consulting services to include management services. Under the terms of our initial agreement with a grow facility in Nevada, in addition to the standard monthly management fee, we will receive a 6% bonus on the revenue generated from all production sales.
Oregon Project
Located in a premier Oregon location 20 minutes from Portland, our $1.6M, 115,000 square foot cultivation project is 90% complete. Grow Contractors continues to be the industry trend setter. The facility boasts the latest lighting technology and is the first facility in the United States to use advanced DE HPS lighting by DEva Revolution, producing more lumens while generating less heat. Grow Contractors also oversaw the installation of a fully automatic irrigation and fertigation system, odor controls and filters, HVAC systems, drying rooms, rolling tables, and all other necessary requirements for an effective grow and production facility. The two licenses on-site are operated by two excellent master growers with many years of experience. This facility will have the capacity to produce 500 pound harvests monthly.
Grow Contractors has researched the Oregon market and has found it to be a market with many potential growth opportunities. With the current project slated to be completed by the end of July, we have been in discussions with the client to discuss a management relationship, expansion plans driving additional construction projects, and a potential joint venture.
Acres Greenhouses
Following a signed contract and design phase approvals, Grow Contractors began work on 40,000SF of Greenhouses for Acres Farms in Amargosa, Nevada. Prior to our working relationship, Acres had existing greenhouses which were partially built and about 15% complete. Acres owners called upon GC’s team having found them suited to take on the endeavor due to their experience and expertise with the Solaris project. GC will proceed to complete the greenhouses, implementing all of the signature bells and whistles incorporated in Solaris. GC is slated to install siding, gutters, all internal mechanics, shading and blackout systems, automation and irrigation, up to final inspection.
As the recreational marijuana market gains momentum, the construction and building boom of Nevada is concurrently growing at rapid pace. As the market continues to develop, our latest contract adds to our portfolio, opening the door to many more multi-phase expansions in Nevada and other recreational states.
Cannabis Supply Update
Within a short period of time, Cannabiz Supply has become the go to supplier of packaging, accessories, and branding solutions for the legal cannabis market in the state of Nevada. Management’s vision and model has proven to be successful. Growing demand has allowed the company to increase its sales team, inventory, and move to a larger warehouse.
With recreational cannabis being legalized in California and an estimated $7 billion recreational market, Cannabiz Supply has begun expansion of services with a new California sales office located at
27247 Madison Ave. Temecula CA 92590. The new office space will accommodate the hiring of additional team members and sales reps. A new rebranded and improved website for Cannabiz Supply is planned for the end of the month.
“Cannabiz Supply continues to build a strong, sales team with distribution channels to support higher volume and sales. Our superior product offerings, large product selection, and solid distribution network position our supply division to grow with future recreational markets. We are ready for new opportunities in the recently legalized recreational states and are excited for our latest expansion into California and more states to come”, concluded Mr. Rosenberg.
About Cannabiz Supply
Cannabiz Supply is a premier national packaging supplier, offering packaging, accessories, and branding solutions for the legal medical and recreational cannabis market.
About Grow Contractors
Grow Contractors is MCIG’s group of Cannabis consultants, engineers, architects, contractors, and grow experts combining over 100 years of experience and talent to bring clients efficient and high-quality grow spaces. Grow Contractors offers a practical approach to cannabis design, construction, and operations to create profitable and compliant facilities. The company provides a custom-tailored approach for every client because there is no universal approach to building a cannabis facility. Grow Contractors also offers several high tech greenhouse products from starter to advanced, high tech, greenhouse buildings capable of covering tens of thousands of square feet. From California to Washington, Oregon to Nevada, Grow Contractors provides products and services in all legal cannabis markets.
Follow Grow Contractors on:
https://www.instagram.com/robgrowcontractors
www.facebook.com.GrowContractorsCA
www.mciggroup.com/project-updates
https://www.cannabizsupply.com
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:
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
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