mCig, Inc. Forms Oregon Subsidiary, CannaProTech, LLC.
BEVERLY HILLS, Calif., Dec. 29, 2014 (GLOBE NEWSWIRE) -- mCig®, Inc. (OTCBB: MCIG) ("mCig"),a technology company that owns, manufactures, and distributes the mCig®, VitaCig®, and Vapolution products, is pleased to announce that the Company has formed a 100%-owned subsidiary, CannaProTech, LLC., in the state of Oregon for the purpose of processing and distributing cannabis and derivatives, along with future expansion into recreational retail locations. CannaProTech will also assist in the development of the mCig+ line of products, which will provide mobile vaporization in applications for the delivery of cannabis plant derivatives (CBD).
mCig, Inc. and CannaProTech, LLC. are nearing conclusive agreements with two reputable and long established Medical Marijuana growers in Oregon with large, productive organic cannabis farms. These agreements will allow for CannaProTech to directly obtain medical-grade cannabis for use in extractions, distribution, and retail sales.
In 2015, CannaProTech will rapidly expand and begin to process and extract cannabis, establish distribution agreements, and obtain retail locations. The company plans to work with several interested business owners that privately own agricultural, industrial, and retail properties located throughout Oregon, some of which are already working within the medical marijuana system currently in place across the state. CannaProTech, LLC. intends to apply and obtain multiple permits from the State of Oregon, including processing, distribution, and retail licenses for legal commercial cannabis sales in 2016.
"While examining current growing operations and distribution channels in legal marijuana states, mCig Inc. has been conducting extensive research to identify strategic entry points into the legal cannabis sector. CannaProTech will be a key division in the company as mCig Inc. moves toward processing plant material, manufacturing and distributing equipment used to process plant material, and incorporating cannabinoids into our product lines. Our experience in mobile vaporization and applications for the delivery of cannabis plant derivatives and molecules will be vital to the success of this initiative. We believe that our products and brand recognition provide us with a commercial opportunity to manufacture and distribute pre-packaged devices with various cannabis plant molecules such as CBD, THC, CBG, CBN, THCV, CBDV, CBDA, and others. After completing a few rounds of testing utilizing CBD and THC, these molecules have been successfully administered utilizing our vaporization technology, and are slated for a 2015 release."
- Paul Rosenberg, CEO of mCig, Inc.
