BELLEVUE, Oct. 21, 2013 (GLOBE NEWSWIRE) -- mCig, Inc. ( MCIG ) is pleased to announce that it has officially launched its WDR (Wholesaler Distributor Reseller) program in anticipation of the official launch of the mCig device towards the end of this month.
The company has adopted a straightforward wholesale model electing to retail the mCig to the consumer at POS (point of sale) for the same all-in price as sold directly from the mCig online store. The goal is to maximize units sold and encourage adoption of the mCig device by the target demographic.
"We have structured the WDR program in a manner that will allow our wholesale partners to earn roughly the same profit margin that we earn. Our primary objective is to spread the usage of the mCig and to get as many of these devices out there in the hands of users. For this reason, we are strategically sacrificing high margin short-term profitability in order to build long-term brand awareness and ubiquity." Stated Paul Rosenberg, CEO of mCig, Inc.
mCig has already received preliminary interest from formidable partners with a United Kingdom based WDR launching an mCig Affiliate website this week under the brand name: BuyCig.Eu.
"We couldn't be more excited about working with mCig, it is so rare to see a new product destined to make a huge impact on an industry. The mCig is a well-balanced blend of smoking technology with faultless, effortless design." Said Philip Hughes, an mCig WDR and owner of BuyCig.Eu
If you are interested in the WDR program please email WDR@mCig.org with your information. Keep in mind, minimum order sizes are 100 Units with a target volume of 1k Units per year per WDR relationship
Strong Viral Growth in Social Media
The company has received an overwhelmingly positive response to its viral marketing campaign which was initiated in late August. In less than two months the viral program has produced over 300,000 Youtube views for the mCig 40 second Ad, over 25,000 followers to the @mCigs twitter account, and over 5,000 likes to the mCig, Inc. Facebook page.
Pre-Orders and Fixes
Since launching our Pre-Order program for affiliates, potential WDR's, investors, and social media prize winner's mCig, Inc. has shipped several hundred mCigs allowing the company to test the stability and efficacy of our payment and fulfillment systems. The company has identified several issues with respect to packaging (limited to a few thousand units) this issue has been corrected and we estimate that all mCigs shipped after November 20 will reflect the correct packaging. The company is also redesigning certain aspects of the heating element and mouthpiece to allow for more efficient cleaning of the mCig in the next generation model. We continue to ask all users to send us as much feedback as possible so that we can continuously improve the mCig.
Tentative Launch Date: October 31, 2013
The company's tentative launch date is October 31, 2013 (Halloween) at which point the online store will be open to the public and WDR's will begin retailing the mCig.
About mCig, Inc.
mCig, Inc. ( MCIG ) is a technology company focused on two long-term secular trends sweeping the globe: (1) The decriminalization and legalization of marijuana for medicinal or recreational purposes (2) The adoption of electronic vaporizing cigarettes (commonly known as "eCigs") by the world's 1.2 Billion smokers. The company is preparing to launch the mCig - a purpose built loose leaf eCig retailing at only $10. Designed in the USA - the mCig provides a superior smoking experience by heating plant material, waxes, and oils delivering a smoother inhalation experience. See more at: http://www.mcig.org/
The company believes that a well regulated marijuana industry is emerging as more states follow the lead of Washington and Colorado in legalizing marijuana. A similar trend is developing within the eCig industry following the first acquisition of an electronic cigarette brand (Blucigs) by a traditional tobacco company Lorillard Inc. ( LO ) for $135 million. Wells Fargo ( WFC ) analyst Bonnie Herzog estimates that eCig sales may rise from $1 Billion in 2013 to $10 billion over the next three years.
mCig, Inc. ( MCIG ) has positioned itself as a first mover at the intersection of these two trends and hopes to create shareholder value by making the mCig one of the leading choices for electronic consumption of plant material. - See more at: http://www.mcig.org/investors/investor-opportunity-subpage/
Safe Harbor Statement
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.
CONTACT PERSON:
Paul Rosenberg
CEO
