BELLEVUE, Wash., Sept. 5, 2014 (GLOBE NEWSWIRE) -- mCig, Inc. (OTCQB:MCIG) is pleased to announce that the United States Government Patent & Trademark Office (USPTO) has officially issued the following trademarks to the company:
mCig® - Reg. No. 4591689 issued on August 26, 2014 covering electronic cigarettes, and lithium-ion batteries for electronic cigarettes.
VitaCig® - Reg. No. 4588443 issued on August 19, 2014 covering tobacco-free cigarettes and medical devices.
This marks an important milestone for the company as its intellectual property portfolio now hosts two registered trademarks providing ownership over recognizable brands covering two high-growth industries.
"We are pleased with the USPTO decision to award us the registered trademark designations for VitaCig® and mCig®. It feels great knowing that we created these brands, nurtured them, and are now the proud owners. A registered mark is an extremely valuable asset which entitles its owners to commercial ownership over a trade name. Owning the terms "VitaCig" and "mCig" within the electronic cigarette space is an accomplishment for our team and a long-term asset for shareholders.
"For a young company like ours, this development is equally important from an operations perspective. A registered mark allows us to consider other ways to monetize and grow sales. Prior to the granting of the mark, entering into any licensing deals would have been counter-productive without having ownership of our brands. We can now focus on scaling up with partners that have additional resources and capital. We are working on several of these joint ventures and look forward to updating our shareholders when they materialize," said Paul Rosenberg.
OTCQB Directory Update – The Company has made arrangements to maintain listing on the OTCQB directory and expects to return to the directory in the coming days. Management is of the opinion that there is no discernible difference between its current status being fully reported to the Securities and Exchange Commission (SEC) or being listed on a privately owned directory of companies. In terms of graduating to a higher exchange, an OTCQB directory listing has no implications on such a move. The only requirements are regulatory (SEC) and qualitative (financials performance). We sincerely apologize to our shareholders regarding any confusion relating to this matter.
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 manufactures and retails the VitaCig®, a $5 nicotine-free eCig that delivers a water-vapor mixed with vitamins and natural flavors. See more at: http://www.mCig.org/, www.Vapolution.com, and 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 (Blucigs) by a traditional tobacco company Lorillard Inc. for $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.