mCig Inc (OTCMKTS:MCIG) is trading up today after some interesting morning news. MCIG is in a strong position inside the growing Nevada cannabis boom and they announced today that they are set to shatter previous sales records, as well as providing an update on the project with Grow Contractors, its subsidiary.
“Grow Contractors is doing exceptionally well, building faster and taking on more projects, with years of growth ahead. The recent influx of requests in Nevada alone will keep us busy in the foreseeable future. Nevada will be working many years to fulfill the demands of this budding industry, and Grow Contractors will be there to support and provide service along the way,” says Robert Kressa, CEO of Grow Contractors.
mCig Inc (OTCMKTS:MCIG) offers electronic cigarettes and related products through its online store mcig.org, as well as through the company’s wholesale, distributor, and retail programs. It also constructs commercial and modular buildings which are aimed at the cannabis cultivation market.
MCIG has a history of dramatic runs and right now it is trading +10% and the momentum looks to be strong. Investors should be paying attention to today.
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The company was formerly known as Lifetech Industries, Inc. and changed its name to mCig, Inc. in August 2013. MCIG was founded in 2010 and is headquartered in Henderson, Nevada.
According to company materials, “Headquartered in Henderson, Nevada, mCig Inc. A diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. MCIG has transitioned from a vaporizer manufacturer to industry leading large-scale, full-service cannabis cultivation construction company with its Scalable Solutions division currently operating in the rapidly expanding Nevada market. The company looks forward to growing its core competencies to service the Ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change.”
The company’s subsidiary, Grow Contractors, touts itself through the following messaging: “Using modular system technology, we create a variety of environmental enclosures ranging from basic temperature and humidity control to medical grade cleanroom environments designed to produce consistent results during any stage of cannabis cultivation. Our mission is to help our clients safeguard investments and find long-term success. This is why we take pride in our ISO compliant, state of the art building components to be the base of your business.”
Here is the update the company provided with quotes included:
“The $3.5M project known as Solaris has been widely anticipated by the entire cannabis industry. Ask about Solaris and chances are someone has heard of it. Boasting over 330,000 square feet of cultivation and extraction space, it will be the largest cannabis facility in Nevada, designed for mass production. With all the required approvals having been completed, Solaris is well into construction!
Utilities are being connected and concrete is being poured! We will be utilizing the latest dutch-style a-frame construction along with desert growing techniques designed by the industry’s finest desert vegetable production experts. To maintain proper temperatures in the Las Vegas desert environment, we created a unique design for climate control which will be a standard for future facilities.
Once fully functional, Solaris is sure to cause some massive waves in the industry, creating brand awareness and securing Grow Contractors to be the “go to guys” for design and construction in Nevada.
GWGA (formerly Sin City) was completed by Grow Contractors before the recreational deadline in Las Vegas. It is now commencing cultivation operations and coming online to sell to the masses.
Although a relatively small facility at only 6,500 square feet, we have fully optimized the facility with vertical growing technologies to produce as much product as that of a 10,000 square foot facility. Only the finest boutique strains will be grown here to help compete with larger producers.”
mCig Inc (OTCMKTS:MCIG) might be on the verge of a breakout. The share price has been climbing over the last few weeks and investors should be paying attention here because the peripherals for MCIG look strong. The company is carrying a $88.66M marketcap with 348.39 shares outstanding. For continuing coverage on shares of $MCIG stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: we hold no position in $MCIG, either long or short, and we have not been compensated for this article.