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mCig Inc (OTCMKTS:MCIG) Update On Its Strategy

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Paul Rosenberg, the CEO of mCig Inc (OTCMKTS:MCIG), updated shareholders on several other developments related with the company. The CEO said that they are few days distant from finishing their audit of OBITX. They are extremely delighted with the business setup of OBITX and once audit is done, they will file their Form S-1 with U.S. SEC to spin-off OBITX.

The highlights

Speaking on mCig’s overall strategy, Rosenberg stated that Render Payment completed its ICO on December 4, 2017. It is projected to be registered on an exchange in January 2018. The company will associate with Render Payment as it sustains to expand its merchant service cryptocurrency platform.  As stated in initial press releases, the objective is to be focused on extraction, distribution and cultivation of hemp/cannabis related products. They are waiting for the nod of their license application in California, that will enable them to manufacture distinct cannabis products.

mCig closed a large agreement with Farm On! Foundation, currently managed by amazing business woman, Tessa Edick, who took the role of CEO with NYAcres, Inc., subsidiary of mCig. They will be one of the few firms to cultivate HEMP in the NY area. The CEO of mCig added that they are seeking other opportunities to cultivate cannabis in other states, however, they are extremely careful how they advance, since the price tag to some assignments are high and they need to seek balance to be profitable.

The construction segment was entirely restructured. This was done during their second quarter, as management learned that the operation results could be enhanced considerably. Construction projects are improving, but management has turned selective with assignments and who to be associated with. They are here to close smart deals and earn money. mCig next big construction assignment will be in California, where they will get ownership rights as well.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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