mCig, Inc. Announces Entry Into Worldwide CBD Hemp Oil Market; Wide Range of Consumer and B2B Offerings Planned for 2015
Feb 02, 2015 08:35:00 (ET)
mCig, Inc. Announces Entry Into Worldwide CBD Hemp Oil Market; Wide Range of Consumer and B2B Offerings Planned for 2015
Incredible Opportunity in CBD-Based Products Focused on the Beauty, Cosmetic, Nutraceutical and Personal Care Market Sectors
BEVERLY HILLS, Calif., Feb. 2, 2015 (GLOBE NEWSWIRE) -- mCig, Inc. (OTCBB:MCIG), a technology leader in portable and home vaporizers and extraction equipment, is very pleased to announce the expansion into the development, manufacturing, and marketing of CBD Hemp Oil-derived products. Cannabidiol (CBD) is one of several new vertically integrated initiatives recently announced as part of mCig's diversification strategy, which also includes legal medical/recreational cannabis extracts, nicotine substitutes, and other emerging nutraceutical product categories.
CBD is a natural occurring non-psychoactive cannabinoid extracted from Industrial Hemp plants. With no psychoactive ingredient, CBD is a ready-for-market Hemp-based Nutraceutical with the potential to help an broad range of conditions, including epilepsy, diabetes, rheumatoid arthritis, chronic pain, alcoholism, schizophrenia, PTSD, antibiotic-resistant infections, and various neurological disorders.
mCig, Inc. will employ 100% natural CBD in its products, derived from the federally legal industrial hemp plant with less than 0.3% THC. This CBD Rich Hemp Oil is classified as food grade and therefore perfectly permissible to ship to all 50 states and more than 40 countries as the products won't require a prescription or permit for purchase.
Partnering with a leading hemp producer in Europe to provide the rich oil concentrate, mCig, Inc. plans to use the compound to target many key market segments, including:
-- Marketing wholesale and OEM sales of bulk raw CBD Hemp Oil to third
parties and B2B offerings;
-- Launching a line of consumer products rich in CBD oils, across cosmetic,
health, nutraceutical and wellness categories;
-- Establishing farming and processing operations centered around industrial
hemp;
-- Investing in innovative CBD-related retail products manufacturing
companies.
According to Paul Rosenberg, mCig, Inc. CEO, the worldwide market for nutraceuticals is expected to reach $250 billion by 2018. "We are riding a worldwide wave in terms of demand for hemp oil-derived products due to its many health and wellness effects. This strong demand coupled with agreements with a huge producer of low-cost highly purified CBD, we envision a wide range of applications for CBD, from integrating with current product lines and new products for wide retail release. By diversifying our product scope with a broad range of CBD-based offerings, we are providing consumers with a more balanced, holistic, and optimal state of health and well-being and tap into this fast growing global demand," explained Rosenberg.
