BEVERLY HILLS, Calif., Jan. 5, 2015 (GLOBE NEWSWIRE) -- mCig®, Inc. (OTCBB: MCIG ), through their wholly-owned subsidiary mCig CBD Technologies operating in the state of Colorado, is announcing the Company's entry into retail production of two groundbreaking products intended to transform the Home Extraction and CBD Vaporization markets as follows:
- an ultra-compact consumer extraction machine sporting a sleek, high-end design
- a revolutionary new vaporizing liquid for e-pens that uses a non-toxic thinning fluid
The company's new consumer extraction machine features a high-tech and sleek design that reduces processing time down to just 15 minutes, less than 4X the amount of time it takes for comparable systems. The extracted product is immediately ready for use in a vaporizing device with a variety of applications and products, including medicinal use.
Other retail applications might also include herbal extraction in the food preparation industry.
"Leveraging proprietary technology, we've developed a compact extraction machine with sophisticated elements that can easily fit on a kitchen countertop, like a well-designed coffee maker," explained Paul Rosenberg, CEO of mCig, Inc.
The mCig extraction machine removes essential and medicinal oils from a broad range of plant materials. A self-contained unit requiring no external pumps, solvent tanks or vacuum processing units, the machine boasts an extremely compact footprint, and uses a replaceable filter and organically based solvent pack. Compared to harmful butane-based extraction methods, the end product from this extraction method is non-toxic and preserves vital terpenes that contribute to the flavor note of each extract.
The Company's second breakthrough product is a revolutionary new vaporizing liquid for e-pens that uses a non-toxic thinning fluid. Incorporating a newly developed processing chamber and closed-loop extraction system, the new line of vaporizer pens replace today's conventional pens, which typically use chemicals like Propylene Glycol (PG) or Vegetable Glycerin (VG).
Many users have a physical intolerance to chemical-based pens, while others have complained about a chemical-flavored after-taste when inhaling. mCig engineers have developed a much cleaner approach to vaporization thanks to a patent-pending technique within the extraction process. The new technology will be reflected in the Company's line of advanced technological products that are slated for global release in 2015. The company is also in discussions with a number of vendors to offer the new pens on an OEM basis.
Rosenberg also points to the Company's intention to enter the extraction facilities market in 2015 with multiple targets in Colorado and elsewhere that will serve the medicinal and commercial cannabis markets.
With the addition of a CO2 supercritical extractor, the Company will soon be able to create innovative products and bring them to market directly. mCig, Inc. is dedicated to achieving its goal to expand into a holding company with a core of profitable divisions to process plant materials, manufacture and distribute equipment and facilities used to process plant materials, and incorporate cannabinoids like CBD and THC into our product lines.
"With a market valued at over $2 billion annually, cannabis extraction is one of the fastest-growing subsets in the (legal) medical and recreational marijuana industries. Our investment in extracts and the entire extraction consumption chain reflects the overall market enthusiasm for extract-based delivery forms. We intend to lead and innovate in this area with continued research and product development across a wide range of consumer devices, edibles and extractions, and enterprise-grade equipment," stated Mr. Rosenberg.
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 believes that a well-regulated marijuana industry is emerging as more states follow the lead of Alaska, Colorado, Oregon, and Washington 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. for $135 million followed by another acquisition in February 2014 by Altria Group Inc. of Green Smoke for $150 million. Wells Fargo analyst Bonnie Herzog estimates that eCig sales may rise from $1 Billion in 2013 to $10 billion over the next three years.
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.
Paul Rosenberg CEO 1(310)402-6937
