November 29, 2016 - By Dolores Ford
mCig Inc (OTCMKTS:MCIG) posted yet another decline, at the end of the November 28 trading session, on a trade volume of 3.22 million. The stock lost 1.44% of its share value, to close at $0.136 per share, at the end of the day. MCIG recorded an intra-week low of $0.108 per share, on November 22, 2016, but regained its ground soon after. Overall, the stock has fluctuated in the market, over the last month. The movement of the stock indicates that investor opinion about mCig is mixed, as the company continue with an aggressive strategy of consistent expansion.
As per the latest press release, the company announced that it is continuing to expand in international markets, through its VitaCig Division. MCIG noted that it has signed a 3-year distribution agreement, for Europe, which would result in a minimum purchase of $2 million. Similarly, the division has also signed an agreement for Japan, valued at $1.3 million. It should be noted here that the agreement for Europe, covers Russia as well. The announcement was also accompanied by the launch of the company’s VitaCig Excalibur, a rechargeable capsule system. The company stated that this was the next generation of VitaCig inhalation technology.
Excalibur’s predecessor was a disposable system, with a sleek and classic design and although the design has been maintained in the upgraded version, the new device produces a denser vapor, with the help of a pre-filled capsule. The company even claims that it is a complete aromatherapy on the go, providing the consumer with all the vitamins, natural plant extracts and essential oils. Moreover, in the spirit of the holiday season, mCig has also released the Candy Cane version of its vaporizers.
CEO Paul Rosenberg comments, “I am extremely pleased to announce our agreement with Mr. Jozsef Fuzesi, CEO of Nefeloma Trade LTD for the distribution and sale of our premier VitaCig line of products in both Europe and Russia. Focusing on international expansion is a key path for long term growth and success.”
New VitaCig International Partner, Mr. Jozsef Fuzesi, comments, “I am extremely excited about the new partnership with mCig and VitaCig, the maker of the original Vitamin Vaporizer. I am honored to have the ability to offer a healthier alternative to tar and tobacco based products, and taking into consideration the overwhelming initial interest, we are looking forward to a very lucrative partnership.”
MCIG is focuses on capturing the hemp and CBD markets, with the help of its lifestyle brands. However, the company has been stepping up operations, so as to become a full servicing and cannabis cultivation company. Most of its divisions are operating in the Nevada market or internationally, where cannabis products are legal. As such, mCig should face no problems with its rapid growth and expansion strategies, provided that it has the liquidity available.
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By Dolores Ford