mCig, Inc. Obtains CE Regulatory Clearance for mCig 2.0 in Europe -- Breaks Another 24 Hour Sales Record
April 09 2014 - 8:30AM
-mCig 2.0 CE Mark Obtained Clearing the Company to Sell the mCig
2.0 in the European Union and Other Countries Recognizing the CE
Mark
-Company Achieves $45,800 in Sales Over a 24 Hour Period, an
Increase of 60% Over Previous Record and an Increase of 1200% Over
Previous Quarter Sales per Inventory Day
mCig, Inc. (OTCQB:MCIG) is pleased to report the company has
obtained a CE Mark for its mCig 2.0 device. This regulatory
clearance officially allows mCig, Inc. to engage in marketing and
distribution activities in the European Union positioning the
company for joint venture distribution deals in the Continent as
well as other countries that accept the CE Mark.
"Obtaining the CE market clearance for our mCig 2.0 is a
significant milestone for mCig. It allows us to begin strategically
developing our distribution channels in the European Union, "said
Paul Rosenberg, CEO of mCig, Inc.
Another Day…Another Sales Record Broken
The company is pleased to announce yet another record breaking
sales day. For the 24 hour period ended April 8, 2014, the company
achieved sales of $45,800 marking an increase of 60% over the
previous record and an increase of 1,200% over the previous quarter
sales per inventory day. These sales figures relate only to
products sold on mCig.org and exclude any sales achieved by
Vapolution or VitaCig.
"Internally, some of us had written off April 7th as an outlier
driven by the national media attention we received the previous
day. That changed when we came into the office on Tuesday.
Whatever we are experiencing appears to be very real and hopefully
sustainable. I personally believe that our disruptive business
model is beginning to pay dividends as consumers enjoy our products
then spread the word to friends and family. We are working
tirelessly to fulfill the thousands of orders we received and are
increasing our inventory levels to account for the rapid increase
in traffic (over 1,000,000 website hits from April 6-April 8) and
sales," said Mark Linkhorst, COO of mCig, Inc.
mCig Management and Products Featured on National
Business News Network CNBC
A contributing factor which led to the new sales record occurred
on April 7, 2014. At around 3:00 PM EDT, the company and its
products were prominently featured in a live segment on the leading
nationally syndicated business network CNBC. In the segment,
business news reporter Jane Wells discussed the emerging cannabis
industry in the United States that are embarking on the
legalization or decriminalization process. Wells highlighted mCig,
Inc. as a company that was operating within the industry, but
indirectly by selling a consumer product: The $10 mCig which allows
for the heating of loose-leaf herbs and waxes.
The segment showed mCig, Inc. COO Mark Linkhorst giving a
demonstration of the mCig with a variety of plant material and
discussing the technical aspects of the device. Vapolution, Inc.
(mCig subsidiary) CEO Patrick Lucey demonstrated the Vapolution 2.0
and discussed the politics of cannabis legalization. Towards the
end of the segment, Wells unveiled the VitaCig, a $2 nicotine-free
electronic cigarette that emits a water-based vapor comprised of
vitamins, natural supplements, and organic flavors and proceeded to
puff on the VitaCig on live television.
To watch an online replay of the segment please visit this page:
http://www.cnbc.com/id/101560701
To view the Company's most recent investor presentation please
visit: http://www.mcig.org/investors/presentations/
About mCig, Inc. mCig, Inc. (OTCQB: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 – the
world's most affordable vaporizer priced 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. The company also owns Vapolution, Inc.
which manufactures and retails home-use vaporizers such as the
Vapolution 2.0. Through its wholly owned subsidiary, VitaCig, Inc.
the company is preparing to launch the VitaCig, a $2 nicotine-free
eCig that delivers a water-vapor mixed with vitamins and organic
flavors. Through its wholly owned subsidiary, LiqCig, Inc. the
company is engaged in the development of the world's first
pre-packaged alcohol friendly eCig. See more at:
http://www.mCig.org/, www.Vapolution.com, www.VitaCig.org.
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 by a traditional tobacco company Lorillard
Inc. $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. (OTCQB: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 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
(425)462-4219