BEVERLY HILLS, Calif., Jan. 14, 2015 (GLOBE NEWSWIRE) -- As the market for legal medical and recreational marijuana extracts and as safer, more convenient ways of consuming them converges, mCig (OTCBB:MCIG) today announced that it is rolling out its EM-J™, a new pre-loaded vaporizing pen thru its Colorado-based subsidiary mCig, CBD Technologies. The unique bundled product combines the highest quality THC and CBD concentrated oils pre-loaded into a convenient, discrete vaporizing pen device, which requires no flame, and produces no smoke or odor.
At the heart of the EM-J™ is a revolutionary new vaporizing liquid that uses a non-toxic thinning fluid. Incorporating a newly developed processing chamber and closed-loop extraction system, the EM-J™ is expected to 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 Inc. engineers have developed a much cleaner approach to vaporization thanks to a patent-pending technique within the extraction process. Versions of the EM-J™ will also be available on an OEM basis for extraction companies, growers, and dispensaries as well.
According to Paul Rosenberg, mCig, Inc. CEO, the market for cannabis extracts is projected at $2 billion annually with expected growth to $10 billion by 2018, and the Company is well suited to become a dominant player in all aspects of the market segment. "More than any other company today, we are vertically integrated and optimized to best serve this quickly growing market. Our new line of EM-J™ vaporizer pens, along with our advanced non-toxic extraction process, extraction machines, and facilities address the most pressing needs of today's medical and recreational marijuana providers. Along with our recent investment in our CannaProTech, LLC subsidiary, operating out of Oregon, we're quickly putting the pieces together to be an industry powerhouse," explained Rosenberg.
Rosenberg also points to the Company's recently launched Colorado-based subsidiary, mCig CBD Technologies, LLC as another key initiative underscoring the company's long-term commitment to extracts. The subsidiary is responsible for designing and manufacturing a new line of products that will leverage its EM-J™ technology for delivery of Cannabis plant derivatives, largely around CBD. CBD, or Cannabidiol, is an active compound in marijuana with and a wide range of potential medical benefits and none of the psychoactive effects of THC.
"Our investments in and around THC and CBD extracts and extract delivery systems reflects the overall growing market enthusiasm for extract-based delivery forms. This is an area we intend to lead and innovate through continued research and product development across a wide-range of consumer devices, edibles and extractions, as well as enterprise-grade equipment," added Mr. Rosenberg.
mCig, Inc. is currently in the process of repositioning itself from a dynamic vaporizer company with price-disruptive products into an umbrella holding company covering a wide spectrum of profit centers in the growing Cannabis industry. In the last year since the initial sales of the mCig 2.0 began until now, the company has sold 10's of thousands of mCig2.0/2.5 devices at disruptive price points of $10-$19. mCig, Inc. plans on continuing this trend with the recent release of the mCig 3.0 and Rick Ross Edition BO$S mCig 3.0.
With the advent of the mCig 3.0, mCig, Inc. has delivered an innovative device that is both price disruptive and a game changer on quality at only $99 MSRP. In recent weeks, our average sales price per transaction nearly doubled thanks to the mCig 3.0 and Rick Ross BO$S devices. The company plans on releasing a slimmed down version of the mCig 3.0 in the next 30 days. The new device will be the mCig 4.0 and it will be slightly wider and longer than the mCig 2.5 with a price point of $60 or less.
The company is in negotiations with dispensary operators, tobacco chain outlets, and major distributors in the US to begin distributing and marketing these two products. With these supply lines established, mCig, Inc. plans to integrate its m$ignature Series products of high end vaporizers and consumer accessories into an array of retail channels worldwide throughout 2015.
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 manufactures and retails the mCig(R) -- the world's most affordable vaporizer priced at only $10. Designed in the USA -- the mCig(R) provides a superior smoking experience by heating plant material, waxes, and oils delivering a smoother inhalation experience. The company also owns Vapolution, Inc., which manufactures and retails home-use vaporizers such as the Vapolution 2.0. Through its 47% owned affiliate, VitaCig, Inc. the company manufactures and retails the VitaCig(R), a $5 nicotine-free eCig that delivers a water-vapor mixed with vitamins and natural flavors. 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.
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(R) 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: Paul Rosenberg CEO 1 (310) 402-6937Source:mCig, Inc.