The Las Vegas-based cannabis company mCig Inc. (OTCMKTS:$MCIG). has officially signed an agreement to purchase land in Kern County, California in order to expand its asset base ahead of the expected January 1, 2018 “Green Rush” in California. Thus, the cultivation process has begun. 

CEO of mCig, Paul Rosenberg said, “California is a major emerging market for legal cannabis consumption, with adult-use sales expected to begin in 2018. We were looking for the right deal that makes sense for the company and its shareholders, and it took us quite a few months, but we have finally taken the first step in establishing a vertically integrated cannabis-focused agriculture company. The company has since initiated the licensing process and application for cultivation/production/distribution licenses.”

The former e-cigarette company has branched out into the cannabis business in a big way. Their new model looks to include cultivation, production, and distribution of cannabis and cannabis products ahead of the legalization trend. The project will cover 50,000 square feet of greenhouse cultivation land and will be able to generate $2.4 million a month in revenues. This works out to about 1,600 lbs of product.

The company is also interested in Nevada and Arizona, where it is looking to secure land and licensing, in the first of a series of planned expansions. The goal of this massive horizontal expansion is to generate greater profits for shareholders and make a bigger impact on the market.

“This is a major development for the company. We have all the resources necessary to build a successful business; we have our own construction/consulting division that will save us a lot of money when we start the build out process; experienced growers on staff that will help create a great line of MCIG products; and marketing/sales division that will allow the company to push our products to different areas of California. Building a successful vertical integrated model will be the main focus of the company moving forward,” Rosenberg concluded.

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