mCig, Inc. Provides Corporate Update -- Reduced Authorized Shares, New COO
BELLEVUE, Wash., Dec. 3, 2013 (GLOBE NEWSWIRE) -- mCig, Inc. (OTCQB:MCIG) is
pleased to announce that the company has reduced the authorized shares
outstanding by 44% to 560,000,000. The company would also like to announce the
appointment of noted Cannabis Activist and Consultant Mark Linkhorst as Chief
Operating Officer (COO) of mCig, Inc.
As part of this appointment, Paul Rosenberg CEO of mCig, Inc. transferred
500,000 of his restricted shares to Mark Linkhorst with an additional 500,000
share transfer set for 6 months following the appointment. No new shares of
mCig, Inc. will be issued as part of this appointment.
Mark Linkhorst Biography
Mark discovered the benefits of Cannabis in 1997 after being honorably
discharged from the US Army with a health condition. After a period of
recovery Mark enrolled in Penn State's Liberal Art School where he graduated
in 2001 with a B.A. in International Politics. From 2001-2003 Mark was an
activist with Clean Water Action. In March 2004 Mark moved to Las Vegas where
he joined the Marijuana Policy Project. At MPP Mark established the successful
signature gathering campaign that helped pave the way for legalization in
places like Reno, Nevada and Fairbanks, Alaska. As the movement gathered
momentum, Mark identified the commercial opportunities that would come. He
enrolled in America's "First Cannabis College" Oaksterdam University and was
class Valedictorian in the Inaugural 2007 year. Next, Mark joined the
nationally renowned "model" dispensary the Berkley Patients Group where he
served as QA/QC manager and dispensary manager. From 2008-2011 Mark worked
with over a dozen dispensaries in the Bay Area in varying capacities. Since
then Mark has been operating as a consultant in the Cannabis and industrial
hemp field through Cannabis.Pro, LLC. His company has produced high quality
concentrates that have been in dispensaries throughout Northern California.
Mark also lobbied with the National Cannabis Industry Association leading to
the now infamous Aug 30^th announcement by the Department of Justice relating
to enforcement shifts in recreational and medicinal marijuana usage.
"Mark approached us several months before the launch showing sincere interest
in our company and the mCig. Since then we have developed a closer
relationship and I have been uniquely impressed with how quickly he grasped
our corporate philosophy, mainly the disruptive nature of our business model.
From a technical standpoint, he has impressed the design and engineering team
with his ideas and we decided he would be an integral addition to the team. In
addition to technical expertise, Mark also provides mCig with intricate
knowledge of the medical marijuana political landscape and grass-roots
movements. As an instrumental player in both movements, he is well respected
by the people on the ground. We are very excited about this addition to our
team as we focus on the upcoming launch of the new and improved mCig." Said
Paul Rosenberg, CEO of mCig, Inc.
"Becoming a part of the mCig team brings me great personal joy. As someone
who's been vaporizing for close to 10 years, to deliver a high quality
experience to the general public for $10 is what harm reduction is all
about.As an activist, there is no greater compliment than practicing what has
been preached in this industry. Being a publicly traded entity will provide us
with an even greater opportunity for outreach, brand development, and
hopefully share prosperity for all shareowners with an economic interest."
Said Mark Linkhorst, COO of mCig, Inc.
About mCig, Inc.
mCig, Inc. (OTCBB: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 is preparing to launch the mCig – a purpose
built loose leaf eCig retailing at only $10. Designed in the USA – the mCig
provides a superior smoking experience by heating plant material, waxes, and
oils delivering a smoother inhalation experience.See more
The company believes that a well regulated marijuana industry is emerging as
more states follow the lead of Washington and Colorado 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. 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. (OTCBB: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 one of the leading choices for electronic consumption of plant
material. - See more
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
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