Bots Inc (BTZI)

[FatFreddysCat]

Great News - non dilutive acquisition!

mCig, Inc. - Acquires Vapolution, Inc. Entering Traditional Vaporizer Market



-- First Strategic Acquisition Marks Entry to New Market


-- Significant Corporate and Strategic Synergies


-- Non-Dilutive Transaction




BELLEVUE, WA--(January 24, 2014) - mCig, Inc. (Stock Market Symbol: MCIG) pleased to announce the acquisition of Vapolution, Inc. – a leading herbal vaporizer company based in Northern California in a non-dilutive transaction that consolidates an industry leader with over $1.3 million (unaudited aggregate revenue since 2010) in sales. This acquisition transforms mCig, Inc. into a formidable competitor in two high growth categories: Personal Vaporizers (mCig 2.0, Vapolution PocketVape) and traditional home-use Vaporizers (Vapolution 2.0).



“We are delighted to announce the acquisition of one of the most well respected brands in the marijuana community: Vapolution - a company that was started by two passionate friends: Patrick Lucey and Chad Shaffer 14 years ago in their garage and became one of the leading vaporization companies, selling in over 11 countries and 200 shops around the world. This acquisition sets the stage for significant synergies. Vapolution will benefit from our platform and technological expertise as well as our relationships in China which have allowed us to bring to market two generations of personal vaporizers in less than 4 months. mCig, Inc. will benefit from having two great minds like Patrick and Chad on our team to assist with the continual improvement of the mCig and additional consumer products. Our aim is to become a number one or two players in each category where we operate and we will work hard to achieve this objective for our shareholders. “ said Paul Rosenberg, CEO of mCig, Inc.



Significant Corporate and Strategic Synergies


Vapolution, Inc. will continue to operate as a standalone entity with its sales and income figures consolidated into mCig, Inc. following the acquisition date. Both companies see significant corporate and strategic synergies as a result of this transaction including but not limited to: Shared R&D, Open and Collaborative Relationship, Consolidation of Administrative Overhead, and Consolidation and Centralization of Order Fulfillment Facilities.



Non-Dilutive Transaction

As part of this transaction mCig, Inc. will issue 5,000,000 shares representing 1% of our fully diluted capital structure to shareholders of Vapolution, Inc. The first tranche of 2,500,000 shares will be issued upon closing with the second tranche to be issued on the one year anniversary of the closing. Paul Rosenberg, CEO of mCig, Inc. will cancel an equal amount (5,000,000 shares) of common shares owned by him resulting in a net non-dilutive transaction to existing mCig, Inc. shareholders.



Vapolution, Inc. Key Performance Indicators


Founded: 2000 in Chico, CA
Revenues: $1.3 million (unaudited) FY2010-2013
Average Unit Selling Price: $125 MSRP.
Products: Vapolution 2.0 Market Leading Vaporizer, Vapolution All-Glass “Pocket Vaporizer”, Glass accessories.
Well known brand with over 20 distribution points, and sales in 11 countries. The only Vaporizer to be designed, engineered, and assembled in the USA.
Website: http://www.vapolution.com