mCig Acquires VitaCig Business and $3.95M in MOQ C
Post# of 2155
Posted On: 06/27/2016 6:59:38 PM
mCig Acquires VitaCig Business and $3.95M in MOQ Contracts
HENDERSON, NV--(Marketwired - Jun 27, 2016) - mCig, Inc. (OTCQB: MCIG), a leading distributor of technology, products, and services in the Cannabis industry, recently filed an 8K announcing the acquisition of VitaCig, Inc. (OTC PINK: VTCQ) e-cig and CBD business. VTCQ recently announced the acquisition and merger with Malecon Pharmacy, Inc., a premier anti-aging pharmaceutical company. MCIG acquired the original VitaCig business, while maintaining approximately 10% non-dilutable interest in VTCQ.
As a brief explanation to our shareholders to supplement the recent 8k filing, MCIG acquired 100% of the VitaCig wholesale and retail sales, and all real and intellectual properties. Included in the transaction were the distribution agreements for the VitaCig and VitaStik brands in multiple European and Asian markets, with a minimum order quantity of $3.95 million over a three-year period. All VitaCig Internet domains and products, whether sold internationally or in the USA will be consolidated with MCIG sales, eliminating the duplicate costs associated with separate businesses, creating an improved bottom line for all MCIG shareholders.
"VTCQ was a dividend spin off from previous management that has always relied on MCIG support. We are happy to turn this chapter and bring these product sales lines back into our pipeline and control," says Paul Rosenberg of MCIG. "Owning approximately 10% of Malecon Pharmacy, Inc., plus owning 100% of the VitaCig future revenues will greatly enhance shareholder value in MCIG."
Mike Hawkins added: "We will discuss further the implication of this transaction during the upcoming investor call June 28, 2016 at 4:30 PM (EDT). We encourage all our shareholders to listen in."
To attend the Shareholder Investor Call, please call (712) 451-0011 and follow the prompts. When required, enter the following conference ID, 889964. The phone line will open up two minutes before the scheduled start time. It is not too late to have your questions addressed. Please send your question to info@mcig.org.
http://finance.yahoo.com/news/mcig-acquires-v...28124.html
HENDERSON, NV--(Marketwired - Jun 27, 2016) - mCig, Inc. (OTCQB: MCIG), a leading distributor of technology, products, and services in the Cannabis industry, recently filed an 8K announcing the acquisition of VitaCig, Inc. (OTC PINK: VTCQ) e-cig and CBD business. VTCQ recently announced the acquisition and merger with Malecon Pharmacy, Inc., a premier anti-aging pharmaceutical company. MCIG acquired the original VitaCig business, while maintaining approximately 10% non-dilutable interest in VTCQ.
As a brief explanation to our shareholders to supplement the recent 8k filing, MCIG acquired 100% of the VitaCig wholesale and retail sales, and all real and intellectual properties. Included in the transaction were the distribution agreements for the VitaCig and VitaStik brands in multiple European and Asian markets, with a minimum order quantity of $3.95 million over a three-year period. All VitaCig Internet domains and products, whether sold internationally or in the USA will be consolidated with MCIG sales, eliminating the duplicate costs associated with separate businesses, creating an improved bottom line for all MCIG shareholders.
"VTCQ was a dividend spin off from previous management that has always relied on MCIG support. We are happy to turn this chapter and bring these product sales lines back into our pipeline and control," says Paul Rosenberg of MCIG. "Owning approximately 10% of Malecon Pharmacy, Inc., plus owning 100% of the VitaCig future revenues will greatly enhance shareholder value in MCIG."
Mike Hawkins added: "We will discuss further the implication of this transaction during the upcoming investor call June 28, 2016 at 4:30 PM (EDT). We encourage all our shareholders to listen in."
To attend the Shareholder Investor Call, please call (712) 451-0011 and follow the prompts. When required, enter the following conference ID, 889964. The phone line will open up two minutes before the scheduled start time. It is not too late to have your questions addressed. Please send your question to info@mcig.org.
http://finance.yahoo.com/news/mcig-acquires-v...28124.html
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