VitaCig, Inc. Reports Independent Test Results, Raises Price of VitaCig to $3 Each
10 June 2014 - 9:00PM
VitaCig, Inc., an mCig, Inc. (OTCQB:MCIG) Company, is pleased to
provide results of the recently completed independent testing on
its products. As previously announced in May, VitaCig implemented
new production and chain of custody standards that included the
independent testing of batches for the purpose of labeling each
package with supplemental nutritional information, expiration
dates, and traceable batch numbers.
In early May, VitaCig liquid batches were sent to an independent
lab operated by Intertek Global, PLC. These batches were first
tested for lead, arsenic, and any other potentially hazardous
materials. Next, each batch was tested for vitamin and nutrient
contents. Finally, the VitaCig and mCig stainless steel cylinders
were also tested for hazardous materials or contaminants.
Results
On June 3, 2014, the company received the results of the
independent testing:
- All VitaCig batches tested were cleared of any hazardous
substances in accordance with international standards.
- VitaCig and mCig stainless steel cylinders were also cleared of
hazardous materials.
- Vitamin and Phytonutrient contents were independently confirmed
in the quantities that were intended in each batch.
The company is extremely satisfied with these results. mCig and
VitaCig products already carry the coveted CE marking and are
produced at RoHS certified facilities. With these results, the
company is raising the bar yet again by attaching nutritional
labeling in line with best industry practices for the nutritional
supplements industry making the VitaCig - the only nicotine-free
electronic cigarette (eCig) on the market with an independently
tested nutritional label.
The company has already revised the VitaCig packaging to include
these nutritional labels. To view the new nutritional label
graphics for the VitaCig Relax, Refresh, and Energize visit:
http://www.vitacig.org/discover/
Price Increase to $3 Each
On June 10, 2014, VitaCig prices will be raised to $3 each from
$2 each as part of multiple retail distribution strategies being
implemented that require a uniform retail MSRP for the product.
"We have decided to raise the price of VitaCig to $3. This
decision was not driven by a rise in costs. In fact, the entire
price increase will translate into additional profit for sales
generated via our online store. This decision is driven by our
recently implemented retail distribution strategy which relies on
fixed embedded margins for each segment of the distribution
channel. For VitaCig to succeed in retail storefronts, its cost to
a consumer at point of sale must be comparable to that of a
consumer purchasing direct from the company."
"We are very excited about the future of VitaCig, a product that
has achieved growth at a more rapid pace than our game-changing
mCig device. The mCig was purpose built for repeat use while the
VitaCig is disposable leading to a higher percentage of repeat
customers. In just 55 days of sales, 15% of all VitaCig customers
have already re-ordered. Coupled with the nutritional labeling
announced today, potential distributors can feel confident that
this product has economic potential, chain of custody standards,
and accountability of ingredients," 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 wholly owned subsidiary, VitaCig, Inc. the company
manufactures and retails the VitaCig, a $3 nicotine-free eCig that
delivers a water-vapor mixed with vitamins and organic flavors.
Through its wholly owned subsidiary, LiqCig, Inc., the company is
engaged in the development of the world's first pre-packaged
alcohol friendly eCig. See more at: http://www.mCig.org/,
www.Vapolution.com, www.VitaCig.org. 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.
CONTACT: Paul Rosenberg
CEO
(425)462-4219