mCig Inc (OTCMKTS:MCIG) recently announced the start of its general construction and engineering design division. The cannabis-related holdings company expects this new division to offer services related to construction of retail distribution outlets, extraction and refinement facilities, and growing and processing facilities.
mCig Inc (OTCMKTS:MCIG) also announced a partnership agreement with ClimaGrow, North America’s first and leading Cannabis-specific HVAC and climate control design and engineering company. Both the companies will jointly offer cannabis producers with variety of services, enabling them to control the environment their plants are growing in. This could result in increased productions and safer cannabis-related products, benefitting both the growers and consumers.
Paul Rosenberg, mCig Inc (OTCMKTS:MCIG) CEO, explained that there has been significant increase in the introduction of newer technologies in this field over the past year. Such technologies may include nutrient delivery systems, lighting and HVAC. Together with ClimaGrow, the company could leverage the industry-leading expertise that is well ahead of the competition.
Prior to the opening of new division, the company also announced expansion into the manufacturing and marketing of Cannabidiol (CBD) Hemp Oil-derived products. The announcement underscores mCig’s diversification strategy, whereby the company is aggressively pursuing into nicotine substitutes, recreational and medical cannabis extracts and other emerging nutraceutical product categories.
As part of this expansion, mCig Inc (OTCMKTS:MCIG) will use 100% natural Cannabidiol in its products. The company will employ CBD from the approved industrial hemp plant with less than 0.3% THC. The CBD Rich Hemp Oil will be permissible to ship across the U.S. and more than 40 countries. Such products don’t require permit or prescription for purchase.
Rosenberg said that the management estimates a wide range of applications for CBD. The product diversification with inclusion of CBD-based offerings will also allow mCig Inc (OTCMKTS:MCIG) to cater into this fast growing global demand, which is expected to reach $250 billion by 2018.