BEVERLY HILLS, Calif., Dec. 11, 2014 (GLOBE NEWSWIRE) -- mCig(R), Inc. (OTCQB:MCIG) ("mCig"), a technology company, is pleased to announce that the company together with its 47% owned affiliate VitaCig, Inc. will be launching a jointly operated retail outlet at the world renowned Dolby Theater (formerly known as the Kodak Theatre) located in the heart of Hollywood alongside the "Walk of Fame", at the Hollywood & Highland Mall. This high-traffic area draws nearly 18 million visitors per year and over 100,000 cars per day. The Dolby Theatre also hosts some of the most important red carpet events and galas including studio movie premieres, the Grammy's, and the Academy Awards (Oscars).
The specific location for the mCig/VitaCig store has been strategically placed directly in front view of the Hollywood sign where thousands line up everyday for photos of this world famous view. The retail location is directly in front of Starbucks, centered in the smoking section, and across from Lids sports shop, Victoria's Secret. The store will open for business tomorrow December 11, 2014.
"I am very excited to be launching our first retail location in such a prime high-traffic area, directly in front view of the famous Hollywood sign. We will be leveraging the healthy LA lifestyle for promoting both VitaCig and mCig products. The Vitamin Vaporizer has taken off amongst the health conscious Hollywood elites, and this store will help us get it in front of thousands from around the world everyday. The beautiful VitaGirls will be on staff seven days a week, educating the masses and our personalized laser engraving machine should act to fuel sales with tourists. We will be rolling out several more of these high foot traffic locations nationally this year," said Al Santos, CEO of VitaCig, Inc.
"For mCig, Inc. this first location marks our entrance into direct-to-consumer high value distribution. We view the Hollywood & Highland Mall as the perfect place to help promote VitaCig and mCig products to a global population. As people discover the benefits of our products they will return home and share them with their friends and family creating a virtuous cycle and network effect. We are looking to make the VitaCig and mCig products part of the memorabilia experience of visiting the infamous Hollywood Walk of Fame much like other great American products have done in the past," said Paul Rosenberg, CEO of mCig, Inc.
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 47% owned affiliate, VitaCig, Inc. the company manufactures and retails the VitaCig(R), a $5 nicotine-free eCig that delivers a water-vapor mixed with vitamins and natural flavors. 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.