BEVERLY HILLS, Calif., Feb. 18, 2015 (GLOBE NEWSWIRE) -- mCig® Inc. (OTCBB: MCIG ), a leading provider of advanced technologies and solutions to the global cannabis industry, is announcing the appointment of noted Industrial Hemp Consultant Joe Spencer as Executive Vice President of its Hemp Division. The new division will offer its first Industrial Hemp Oil-derived CBD products for both consumer and industrial markets. mCig, Inc.'s new-to-market CBD Hemp Oil Vape Pens will premiere at the Academy Awards celebrity gift suite on February 21, 2015 in Hollywood, California.
mCig's initial offerings will include high quality CBD Hemp Oil Vape Pens, Capsules, Tinctures, Drops, Edibles, and other CBD-infused product lines. As part of its ongoing marketing and sales strategy, mCig is rolling out two new web sites to support online merchandising and sales at www.JustCBDOil.com and www.USAHemp.com .
"These new online stores will be unveiled in the next couple of weeks, with one site going live by the end of this month. We anticipate record revenues from our diversified portfolio of products over the next quarter," said Paul Rosenberg, mCig CEO.
About: Joe Spencer
Joe Spencer will lead mCig's entry into the CBD consumer nutraceutical products marketplace. Given the US nutraceutical and dietary supplement market is forecasted at $42 billion annually, CBD can serve a diverse range of homeopathic needs. In fact, Mr. Spencer was introduced to the medicinal value of cannabis during 2003 after he become ill with a debilitating unexplained neurological illness. It wasn't until 2007 when he was diagnosed with chronic Lyme disease and successfully underwent a controversial long-term antibiotic treatment. During this time period, Mr. Spencer began researching alternative diagnosis and treatment options. The medicinal value of cannabinoids, specifically CBD, became a focus point, which led to funding research and development projects throughout Europe. The starting point of this research involved searching for landrace cannabis varietals, which contain naturally high amounts of CBD.
During 2013, Mr. Spencer left a successful career as a leading international SEO consultant to start Hemp Broker Europe, advising hemp farms, CBD production facilities and non-profit organizations throughout the European Community. During the spring of 2014, Mr. Spencer was asked by members of the Albanian Parliament to advise them on the international hemp and the CBD industry. He has since received a business license in Albania for full-scale cultivation of industrial hemp and CBD extraction and production.
Pointing to the company's diversification strategy into new markets, such as CBD-based products, Paul Rosenberg, mCig Inc.'s CEO explained, "Joe brings tremendous expertise in the field of CBD nutraceuticals to the company. At a time when the market for alternative health and wellness products is thriving, CBD Hemp Oil has so much potential – it's the first overnight sensation with a two-thousand year history. We're extremely fortunate to have such a valued industry executive as Joe to be part of our management team, as we continue to evolve our product line and extend our brand."
About mCig, Inc.
Headquartered in Beverly Hills, CA, mCig, Inc. (MCIG) is a leading provider of advanced technologies and solutions to the global cannabis industry. mCig manufactures and markets best-selling portable and home vaporizers, extraction related equipment, CBD Rich Hemp Oil-derived products, and related nutraceuticals based on natural compounds found in Cannabis and Hemp plants. The company owns the mCig and Vapolution brands, and has a 47% stake in VitaCig (VTCQ), makers of the VitaStik, a disposable vitamin vaporizer. 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 CBD and Hemp industries following overwhelming consumer demand.
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 Tel.:1(310)402-6937
