Home Business Cannabis, hemp and CBD company mCig expands into California marijuana market

Cannabis, hemp and CBD company mCig expands into California marijuana market

Cannabis, hemp and CBD company mCig expands into California marijuana market
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Jacksonville, Florida-based mCig announced it’s getting into the California marijuana market, with the acquisition of a 2.5-acre property in California City, north of Los Angeles.

The diversified cannabis company will set up a 30,000-square-foot indoor marijuana cultivation operation, with the option to expand it to 50,000 square feet, according to a press release.

Also, mCig (MCIG) intends to build out an extraction and manufacturing facility between 2,000-4,000 square feet, as well as a distribution center. It already has local permits for cultivation, extraction and manufacturing.

When the facility is fully up and running, mCig projects it will generate more than $20 million in revenues annually.

According to mCig’s website, its portfolio also includes a New York state hemp cultivation operation, a Las Vegas-based marijuana consulting firm, an international e-cigarette company, a software company, a marijuana industrial supply firm, and a vaporizer manufacturer, as well as ownership stakes in a California CBD company and a Florida wellness firm.

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