LAS VEGAS, NV–(Marketwired – Nov 29, 2017) – mCig, Inc. (OTCQB: MCIG), a diversified company servicing the legal cannabis markets, announced today that the company has entered into a definitive Joint Venture agreement with Empire Farm’s FarmOn! Foundation in Copake New York. Together the partnership has formed NYAcres, Inc., a corporation 80% owned by mCig, Inc. focused on hemp propagation, production, research, and distribution of organic industrial hemp and hemp by-products.
The company is pleased to announce that cultivation process will start immediately on the initial harvest of 40 acres, allowing for a second harvest in late fall. The program will expand each year over 3 years, scaling up to 120 acres of organic industrial hemp bi-annually.
Uniquely located on the corner of three states, New York, Massachusetts and Connecticut. Empire Farm is a certified organic 220-acre working farm, home to the FarmOn! Foundation, founded in 1830 and associated with the Astor family. Nestled in an agricultural community in the heart of the Columbia County, the FarmOn! Academy is in partnership with SUNY and Cornell College of Agriculture and Life Sciences, providing young adults the opportunity to learn agriculture on an established working farm. Now home to NY Acres, Inc., the farm also offers 4 four-season heated hi-tunnel greenhouses lending its rich ‘black gold’ soil, suitable for hemp cultivation.
FarmOn! Foundation includes a strong collaboration of professional farmers, educators, influencers, supporters, nutritionists, students, and community leaders who believe in investing in the future of local agriculture by helping to rebuild local economies, enabling them to be resilient with sustainable agriculture. FarmOn! Foundation partners include SUNY, Cornell University, Google NYC Farm to Table Project, TasteNY, John Varvatos, Bronx Zoo, NYS Department of Agriculture & Markets, New World Foundation/Local Economies Project, Bloomberg Philanthropies, Christy & John Mack Foundation, Hudson Valley Fresh, Maple Hill Creamery, Yelp, Whole Foods Market, Modern Farmer, NBA, The Walt Disney Company, MLB at Yankees SI, Applegate, Edible Schoolyard Project and LetsMove.org
Industrial hemp is projected to increase 700% by 2020. New York State has focused on the economic development and expansion of Industrial Hemp Research Permits under Governor Andrew Cuomo, giving mid-size farms the opportunity to implement sustainability and organic practices to promote efficiency and profitability. The partnership between mCig and FarmOn! Foundation brings a significant, mutually beneficial opportunity, investing in infrastructure to help rebuild rural American farming.
“The opportunity between mCig and FarmOn! Foundation fosters innovative, profitable and sustainable farming. We look to industrial hemp as an economic driver in the great state of New York, with the leadership of Governor Cuomo supporting our agricultural community, having a vision to rebuild for sustainability and rural prosperity through research and investment,” said Paul Rosenberg, CEO of mCig.
The Chairwoman of FarmOn! Foundation and CEO of NYAcres, Inc., Tessa Edick, brings a lifetime of agricultural and business experience, strategic partners and a wealth of knowledge in food and agricultural cultivation to the joint venture. Tessa Edick is connected to a lifetime of practical farming, is an established author, school food activist, food entrepreneur, founder and executive director of the FarmOn! Foundation, a 501(C)3 non-profit organization and public charity.
In 2016, Edick was appointed by Governor Andrew Cuomo to the Task force on Safe and Healthy Foods to develop NY Grown & Certified brands, and in 2015 appointed by executive order to the New York State Council on Food Policy and the Advisory Board for Edible Schoolyard by mentor Alice Waters. Edick was featured in the Oprah Magazine “O” list twice, as well as 16 SFT Sofi Awards (the Oscars of food). Edick also founded the Culinary Partnership, where her guidance helps both celebrity chefs and producers launch their recipes to retail shelves. In 2010, Edick started Friends of the Farmer Festival in the Hudson Valley and established the FarmOn! Foundation, as the benefactor, committed to raising awareness and respect to farmers, the real stars in food, while educating the public on the importance of honest food-choices and better school lunches, contracting dairy farms in the districts to supply school milk. FarmOn! Foundation offers programs for adults and youth, including a SUNY accredited Farm Academy, the theme of which is fostering the entrepreneurial spirit in agriculture, thereby supporting the local growing community in the process. In 2014, through a generous contribution from the Christy & John Mack Foundation, Farm On! Foundation found its home at Empire Farm.
“The oldest honorable profession, farming, needs to be re-established for our health; for our children; and for the economy of our local communities. Only when the costs of trucking, storage and distribution is redirected to the local Farmer, will farming once again become a profitable business…and attract future generations of farmers,” says Tessa Edick, CEO of NY Acres.
“Edick’s FarmOn! movement, has cultivated and nurtured a broad network of supporters, partners and beneficiaries within New York State as a pilot program that is being scaled and implemented nationally with Google, NYC Farm to Table Project,” says Mike Hawkins, CFO of mCig.
About the FarmOn! Foundation:
FarmOn! Foundation is a 501(c)(3)non-profit organization and public charity that creates and funds youth educational programming and is working to preserve family farming in America.
FarmOn! Foundation is dedicated to bringing awareness to food choices and sources and reinvigorating respect for farming, inspiring young people to choose agricultural careers to create an economic engine connecting rural and urban marketplaces to rebuild local economies.
MISSION: Inspiring, educating and preparing youth for successful careers in sustainable farming.
VISION: A world where a career in sustainable agriculture is valued and profitable.
FarmOn! Foundation is a 501c3 non-profit organization + public charity that creates and funds youth educational programming and is working to preserve family farming in America. The FarmOn! Foundation is a movement dedicated to bringing awareness to food choices and sources, reinvigorating respect for farming and inspiring young people to choose agricultural careers that will create an economic engine connecting rural and urban marketplaces to build local economies. Join our movement today: http://farmonfoundation.org.
About MCIG Group (OTCQB: MCIG)
Headquartered in Henderson, Nevada, mCig, Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. mCig, Inc. is committed to being the leading distributor of technology, products, and services to fit the needs of a rapidly expanding industry. mCig, Inc. has transitioned from a vaporizer manufacturer to industry leading large scale, full service cannabis cultivation construction company with its Grow Contractors division currently operating in the rapidly expanding Nevada market.
mCig, Inc. also employs a world renowned technology team and has recently entered the tech space to satisfy its evolving role in technology and in keeping its growing following up to speed.
The company looks forward to growing its core competencies to service the ancillary legal Cannabis, Hemp and CBD markets, with broader expansion to take place once federal laws change. With over seventy five years of experience combined between the key players that make up the Cannabis Grow Contractors Division, mCig Inc. is proud to work with Cannabis Industry leaders and provide broad and rounded solutions for legal growers nationwide.
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.
This release contains a non-GAAP disclosure, EBIDTA, which consists of net income plus interest expense, net, provision for income taxes and depreciation and amortization. This term, as the Company defines it, may not be comparable to a similarly titled measure used by other companies and is not a measure of performance presented in accordance with GAAP. The Company uses EBIDTA as a measure of operating performance. EBIDTA should not be considered as a substitute for net income.
CEO of mCig
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