mCig, Inc. (OTCQB:MCIG) is pleased to announce that its wholly
owned subsidiary VitaCig, Inc. has filed a Form S-1 (prospectus)
with the Securities and Exchange Commission (SEC) for the
registration of 250,000,000 VitaCig, Inc. shares that will be paid
out to mCig, Inc. shareholders as a dividend on the record date.
The record date has now been declared. That date shall be defined
as the first business day following an effective statement from the
SEC in regards to the Form S-1 filing.
VitaCig, Inc. Spin-Off, Dividend, and IPO
Purpose: The Purpose of the Spin-Off is to
allow VitaCig, Inc. to operate as an independent company operating
within the electronic cigarette space by harnessing mobile
vaporization for medical delivery.
Pro Forma Capital Structure: VitaCig, Inc. will
have 560,000,000 shares Authorized, 500,135,000 shares Outstanding,
with mCig, Inc. owning 246,786,424 of that total representing 49%
of the outstanding shares. The remaining 51% of VitaCig, Inc. will
be owned by current mCig, Inc. shareholders as well as mCig, Inc.
management.
Dividend Ratio: Every shareholder of mCig, Inc.
will receive a dividend of One (1) share of VitaCig, Inc. for every
One (1) share of mCig, Inc. owned on the Record Date.
Record Date: The record date has now been
defined as the first business day following an effective statement
from the SEC in regards to the Form S-1 filing. It is difficult to
predict with precision when this effective statement will be
obtained. This event may occur at any-time following the filing of
the Form S-1.
Mechanics of Completing the Distribution: mCig
management anticipates that within thirty days of the date of the
effective date of the prospectus, mCig will deliver 250,000,000
shares of our common stock to the distribution agent, Clear Trust
LLC, to be distributed to the shareholders of mCig. We have defined
the record date as the first business day following the effective
statement from the SEC. Only holders of mCig, Inc. on the record
date shall receive shares of VitaCig, Inc. Only those shares deemed
"free trading" by our transfer agent shall be registered under this
prospectus. These shares are held by a total of 14,842
shareholders.
If you hold your mCig shares in a brokerage account,
your VitaCig shares of common stock will be credited to that
account and will be freely tradable upon listing. If you hold your
mCig shares in certificated form, a certificate representing shares
of your VitaCig common stock will be mailed to you by the
distribution agent. The mailing process is expected to take about
thirty days. No shareholder of mCig will be required to make any
payment or exchange any shares in order to receive our common
shares in the distribution. mCig will bear all of the costs of the
distribution, and VitaCig is bearing the costs of this Registration
Statement.
VitaCig Video Ad
The company recently released a video advertisement for the
VitaCig which can be found here:
https://www.youtube.com/watch?v=tKaQcZ2r04I.
The Science Behind VitaCig*
The VitaCig device is designed to deliver vitamins and
phytonutrients via direct inhalation of rapidly absorbed vapor.
Phytonutrients are compounds found in plants that provide
significant health benefits. Every VitaCig includes the following
base Vitamins: A, B, C, E, and CoQ10 (Ubidecarenone).
RELAX
The "end of the day" VitaCig that can be enjoyed after a long
day at work or before bed-time. Extracts of blueberry and black
currant provide flavor as well as the potent anti-inflammatory and
antioxidant phytonutrients known as polyphenols and anthocyanins.
B-Myrcene belongs to a class of aromatic plant compounds called
monoterpenes and is incorporated for its sedative, muscle relaxant
and analgesic properties.
REFRESH
The "go-to" VitaCig that can be enjoyed throughout the day for a
refreshing and uplifting feeling. Oils of peppermint and spearmint
provide flavor and a natural source of menthol. Menthol, a
monterpene derivative, has analgesic, local anesthetic,
decongestant, expectorant and cooling properties. Eucalyptol
belongs to a class of aromatic plant compounds known as oxides and
has expectorant, decongestant, antiseptic, bronchodilatory and
cough suppressant properties.
ENERGIZE
The calorie-free "energy booster" that will help you get through
a slow day. Extracts of orange and grapefruit provide flavor,
vitamin C and citrus bioflavonoids. Citrus bioflavonoids have been
shown to provide antioxidant protection and immune system support.
Orange oil is added for flavor and as a natural source of limonene.
Limonene is a monoterpene incorporated for its stimulating,
uplifting, antiseptic, and anxiolytic properties.
* These statements have not been evaluated by the Food and Drug
Administration. This product is not intended to diagnose, treat,
cure, or prevent any disease.
About VitaCig, Inc. VitaCig, Inc. is a technology company that
is harnessing mobile vaporization technology for medical delivery
applications. The company has launched its first consumer product:
The VitaCig, a $2 nicotine-free device that looks and feels like an
electronic cigarette (eCig). Unlike a traditional eCig, the VitaCig
delivers a vapor of natural flavors, vitamins, and phytonutrients.
Initially the VitaCig will be produced in three flavor categories:
Relax, Refresh, Energize with plans for additional flavor
categories and targeted medical applications in the future. The
company is currently a subsidiary of mCig, Inc. (Stock Symbol:
MCIG) that is in the process of being spun-off to shareholders.
The traditional tobacco industry is estimated at nearly $900
Billion a year. Financial analysts from Wells Fargo, Goldman Sachs,
and Citigroup predict that by 2022 Electronic Cigarettes will
supplant the traditional tobacco industry and eventually grow into
a $1 Trillion industry.
VitaCig is disrupting both the traditional tobacco industry and
the growing electronic cigarette industry by appealing to the
existing 1.2 Billion adults globally that smoke cigarettes,
providing them with a nicotine and tobacco-free alternative that
may assist in harm reduction. Moreover, the company is expanding
the target market beyond the 1.2 Billion adults by appealing to
non-smokers or occasional smokers with a superior method for the
consumption of Vitamins, Nutrients, and other compounds with
medicinal efficacy. – To learn more visit:
http://www.vitacig.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