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Why the Market Rewarded Shares of mCig Inc (OTCMKTS:MCIG)

mCig Inc (OTCMKTS:MCIG)

mCig Inc (OTCMKTS:MCIG)

mCig Inc (OTCMKTS:MCIG) shares are up almost 10% after the company announced project updates for its construction and consulting division Grow Contractors. The company also exapnded its cannabis supply division into the California market which coincided with record sales in Nevada. mCig Inc (OTCMKTS:MCIG) shares ended the day at $0.259 on heavy volumes.

Robert Kressa, CEO of Grow Contractors, stated “Grow Contractors is doing exceptionally well, building faster and taking on more projects, with years of growth ahead. The recent influx of requests in Nevada alone will keep us busy in the foreseeable future. Nevada will be working many years to fulfill the demands of this budding industry, and Grow Contractors will be there to support and provide service along the way,”

mCig’s Grow Contractors Updates

GWGA (formerly Sin City) was completed by Grow Contractors before the recreational deadline in Las Vegas. It is now commencing cultivation operations. Although a relatively small facility (6,500 square feet) Grow Contractors has installed vertical growing technologies in an effort to produce as much product as a 10,000 square foot facility.

The $3.5M project known as Solaris has over 330,000 square feet of cultivation and extraction space. It will be the largest cannabis facility in Nevada. Utilities are being connected and concrete is being poured. The facility will employ a Dutch-style, A-frame construction along with desert growing techniques.

A $1.6M, 115,000 square-foot cultivation project in Oregon is 90% complete. The facility boasts the latest lighting technology and is the first facility in the United States to use advanced DE HPS lighting by DEva Revolution, producing more lumens while generating less heat. Grow Contractors also oversaw the installation of a fully automatic irrigation and fertigation system, odor controls and filters, HVAC systems, drying rooms, rolling tables, and all other necessary.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

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About the author: Marc has a degree in economics and a MSc. in Finance. Over his 20-year career, Marc has worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

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Marc has a degree in economics and a MSc. in Finance. Marc worked for global investment firms in Europe and the United States as an analyst, fund manager, and consultant.

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