MCIG), a company focusing on the marketing, sale, and distribution of CBD products, is pleased to announce that it has entered into a binding letter of intent („LOI”) to create a joint venture with Bare Roots Rx LLC., a leading supplier of high quality, organic botanical CBD products.
Under terms of this agreement, mCig will own 51% of the joint venture in exchange for marketing support, new sales channels, technical support and much needed equipment. Bare Roots Rx has current revenue of approximately $1M and pending orders for 2020 far in excess of current levels.
The new Joint Venture will operate two distinct divisions: health care space and consumer products. These divisions will be supported by a medical and scientific advisory board.
Bare Roots RX has an innovative and new approach to healthcare and lifestyle via CBD products utilizing medical knowledge and technology. Through the synergistic harmony of these industries, the guesswork of what someone should take to help improve their lifestyle and what the potency of the products are can be eliminated.
Bare Roots RX will be approaching this through medically driven science and scientifically driven software which is checked by primary care physicians and holistic coaches along the way.
Dale Hipes, Bare Roots Rx CEO, said, “We can cut down the amount of fraud, ignorance and waste of this vital source of remedy. The best part is we will be gathering the pertinent information for medical validity that no one else has thought how to address or is even concerned with. Through our joint partnership with mCig we will change the face of medically driven cannabinoid research.”
The Consumer Products Division will continue to deliver botanically based cannabidiol products that enhance quality of life. The Company will push its Bare Roots Rx brand above the rest using its ISO-Raw technology, which will enable it to produce a broad-spectrum product affecting the ECS with maximum results. The following products will be available to the market immediately:
* Lip balms
* Eye and face creams
* Tattoo and beard balms
* Pain balms
Customers can buy these organic, pesticide- and glyphosate-free, non-GMO products at BareRoots-Rx.com.
The joint venture with Bare Roots Rx adds a strong team member to the portfolio of mCig companies and will create opportunities for great growth for the company in the CBD product market.
„MCIG is focusing all our assets and expertise in creating immediate value for our shareholders,” says Paul Rosenberg, CEO of MCIG Inc. „We believe the CBD industry represents the best opportunities for the Company.”
About MCIG Group
The statements made regarding CBD products including our future products have not been evaluated by the Food and Drug Administration. The efficacy of these products and the testimonials made have not been confirmed by FDA- approved research. These products are not intended to diagnose, treat, cure or prevent any disease. All information presented here is not meant as a substitute for or alternative to information from health care practitioners. Please consult your healthcare professional about potential interactions or other possible complications before using any product. The Federal Food, Drug, and Cosmetic Act requires this notice.