MCIG CEO Issues Shareholder Letter for Post-Pandemic Strategy
JACKSONVILLE, FL, May 11, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE –mCig, Inc. (MCIG) CEO Paul Rosenberg publishes an open status letter to Shareholders.
To our Shareholders,
The cannabis industry received a surprise classification during the Covid-19 pandemic, – “essential business.” This may be a harbinger of full legalization to come which should ultimately make our industry far easier to navigate. It’s not just the US — cannabis legalization and consumption is taking the whole world by storm.
The international advancement towards medical and recreational legalization has dragged marijuana into the mainstream. The whole industry saw a spike in innovation as a result. No longer confined to the edge of the economy, innovative companies in the cannabis space are taking on challenges that the still-developing industry has yet to solve. From product quality assurance to consumption-related, law enforcement, government oversight, taxation issues, banking difficulties- lots of work is still ahead of them.
Visionaries in the cannabis industry are experimenting with using blockchain technology to explore how products can be safer and processes more efficient. Blockchain is revolutionizing the way companies and governments do business – and it will have great benefits for the cannabis industry. People are linking up on cannabis related, blockchain-linked social networks. Expert growers are using blockchain-powered platforms to register new strains and pass along their knowledge to novice growers. Fintech innovators are creating solutions for countless unbanked dispensary customers. Combined, these developments represent the growing impact of blockchain-powered technology in the legal cannabis industry.
The past years have been a demanding learning process that has resulted in discovering that our industry will move to numerous blockchain solutions starting from seed continuing the process to end consumer’s consumption as well as tracking the negative and efficaciousness affects thereof.
In fact, it would not be hard to imagine a world filled with blockchain solutions for every industry from finance to medicine and therefore we will not limit our exposure to the cannabis trade.
In the future, it is likely that most if not all shares, bonds, real estate mortgage transactions will move to blockchain solutions and even NASDAQ and DTCC have substantially delved into this new realm of the future as well as countless other major players. The impact of the coming transition to blockchain could easily involve trillions of dollars in assets.
The newest components added to this evolution will be AI and robotics as a means to not only make distributed ledgers more efficient but also make them safer, protecting from hackers and malware both in centralized and decentralized environments.
As we seek acquisitions in this quickly expanding field, all of these components, blockchain combined with cryptography, cryptocurrencies, AI and robotics will be highlighted in our quest to position MCIG as a go-to leader.
We are already making moves in this direction, including change of jurisdiction to blockchain and tax friendly Puerto Rico, reserving a new name to match our added direction as well as negotiations under way to acquire a current leader in this field.
Our foresight to add crypto to our portfolio can be seen in a small dividend of Obitx Inc., (OBTX) shares to our shareholders paid years ago while continuing to hold a major stake in this long term investment.
Thank you so much for your ongoing support. Come grow with us.
Paul Rosenberg, CEO
About MCIG Group
Headquartered in Jacksonville, Florida, mCig, Inc. (MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands.
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This press release may include predictions, estimates or other information that might be considered forward-looking within the meaning of applicable securities laws. While these forward-looking statements represent the Company’s current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect the opinions of the Company’s management only as of the date of this release. Please keep in mind that the Company is not obligating itself to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as: potential, expect, look forward, believe, dedicated, building, or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by the Company herein are often discussed in filings the Company makes with the United States Securities and Exchange Commission (SEC) available at www.sec.gov and on the Company’s website at www.mciggroup.com.