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Home 🌿 Marijuana Business News 🌿 mCig, Inc. to Acquire Security Grade, Bringing Full-Service Specialized Security Solutions to the Cannabis Industry 🌿mCig, Inc. to Acquire Security Grade, Bringing Full-Service Specialized Security Solutions to the Cannabis Industry
BEVERLY HILLS, CA--(Marketwired - Jun 29, 2015) - mCig, Inc. (OTCQB: MCIG), a leading provider of technology, products, and services for consumers, manufacturers, dispensaries, and growers within the global medical and recreational marijuana industry, announced today that the Company has signed a letter of intent agreement ("LOI") to acquire Security Grade Protective Services, Inc., a full-service security firm specializing in the cannabis industry.
The acquisition is expected to close on or before July 19, 2015. Security Grade has generated $560,000 in revenue with a 40 percent profit margin in the first half of 2015 and is on target for $1.3 million by fiscal year end. With nearly 100 percent growth year over year, revenues from Security Grade are expected to earn mCig $2.5 million in 2016 as the Company realizes its marketing and sales efforts for its systems and services in states beyond Colorado.
"This acquisition of Security Grade is just one...
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