MCIG CEO To Cancel and Return 30 Million Shares of His Common Stock
JACKSONVILLE, FL, July 16, 2019 – mCig, Inc. (MCIG) a leading distributor of innovative products, customized packaging solutions, technologies, and services for the global medical cannabis industry, announced today that its Chairman and CEO, Paul Rosenberg, is canceling 30 million shares of his own common stock and return the shares to the company treasury. This change in share structure will be effective immediately.
“I am deeply committed to the vision of our company and our plan of action to increase shareholder value. By personally cancelling 30 million shares that I own, I want to reassure the investment community and convey my enthusiasm for where we are headed and the opportunities we see on the horizon. The return of these shares demonstrates management’s desire to maintain a capital structure that supports growth without resorting to the increasing of our authorized shares. I expect to enact similar cancellations in the future”, said Paul Rosenberg.
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. mCig, Inc. is committed to be the leading distributor of technology, products, and services to fit the needs of a rapidly expanding industry. mCig, Inc. employs a world-renowned tech team and has recently expanded its products and services to satisfy its evolving role in cannabis and hemp markets.
The Company has been featured in media nationwide, including CNBC, Bloomberg, TheStreet.com. For more information, visit www.mciggroup.com.
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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
Contact: mCig, Inc.