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mCig Inc (OTCMKTS:MCIG) Secures An Exclusive Management Contract With a Client in Costa Mesa, CA

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A subsidiary of mCig Inc (OTCMKTS:MCIG)’s construction and consulting division has secured an exclusive management contract with Costa Mesa, CA based client through its subsidiary Grow Contractors. The total cultivation and production facilities for cannabis has increased to three.

The construction and consulting division of MCIG will manage the operations of these facilities throughout California. As per the terms of the accord, the company will receive ten percent of all the proceeds.

The construction division of MCIG is already preparing the concept design for the proposed facility in CA. Chief Executive Officer of Go Contractors, Rob Kressa said the company is continually growing its competitive footprint in CA. It is also establishing a consortium of clients in the state to provide access in entire California.

mCig Inc (OTCMKTS:MCIG) Issues an Update on Industrial Hemp Project

mCig Inc (OTCMKTS:MCIG) has issued an update about the industrial hemp project that spans an area of 40 acres in New York.

The company has propagated industrial hemp seeds of around 80,000 this spring. It is expecting a yield of 55,000 pounds of processable flower in Copake NY for CBD extraction. The processable flower will be used for products that demands hemp oil.

NYAcres is also planting industrial hemp outdoors in 40 acres. The company will sow Berry Blosom and Cherry Wine hoping to get a yield of CBD concentration of 12 to 15%. The seed strains will be grown without using pesticides, and gmo products. The company will produce organic CBD for use in wellness products.

The THC levels of the flowers are set at 0.3% as per the specifications of Industrial Hemp Research Pilot Program Partnership. The flowers will be used for extraction and further use in CBD Hemp oil products.

Greenhouses will be used for growing Industrial Hemp products and then transplanted in a Hudson Valley terroir till the maturity. Then they will be grown in an irrigation with a spacing of 5′ x 5′. The harvesting by hand will begin fourteen weeks after planting. The flowers will be cured for the extraction of CBD.

Brief Information about mCig Inc

The headquarters of mCig Inc is located in Jacksonville, Florida. Its business operations include hemp, cannabis, and CBD.

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Axim Biotechnologies Inc (OTCMKTS:AXIM) Introduces A Rapid Diagnostic Test To Neutralize Antibodies To Prevent Coronavirus Infection In Human Body

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Axim Biotechnologies Inc (OTCMKTS:AXIM), an investment company of Medical Marijuana Inc (OTCMKTS:MJNA), rolled out a rapid diagnostic test to measure the levels of neutralizing antibodies and save the humans from the threat of coronavirus.

Diagnostic to overcome coronavirus

CEO Dr. Stuart Titus, CEO of Medical Marijuana, said its investment company – Axim put in significant efforts in the past few months in developing a diagnostics test for neutralizing the effects of COVID-19. Innovative diagnostic expects to nullify the coronavirus impact on humans soon and position Axim at the forefront against competitors.

A rapid 10-minute test

The 10-minute rapid diagnostic developed by Axim is the first of its kind in the world. It measures a subpopulation of the antibodies that can block the virus from attacking a human body. Other diagnostics available in the market can only detect COVID-19, but Axim diagnostic has the power to neutralize the virus. Axim diagnostic is affordable and works faster in 10 minutes.

Following the diagnostic, vaccines can improve antibodies levels in the human body. The manufacturers can use Axim diagnostic to know the effectiveness of the vaccine in the recipient’s body.

John W. Huemoeller II, CEO of Axim, said the company achieved success in developing an economical, fast-acting, and accurate diagnostic that serves as an immunity passport for vaccines’ developers. It is highly useful for vaccine manufacturers because they begin Phase 1, 2, and 3 clinical trials on a large scale.

Applies for pre-emergency use

Axim applied for the approval of pre-emergency use of its diagnostic. The company is readying the data collected from various tests conducted recently for submission to the US FDA to get EUA.

Kannaway adds a brand ambassador

Kannaway, a subsidiary of Medical Marijuana, added Carolyn Dielmann Connolly to its brand ambassador’s team. Blake Schroeder, CEO of Kannaway, said Carolyn accomplished several milestones in her previous stints. He welcomed her to the fold of Kannaway to gain new customers.

In her networking career at several companies, Carolyn built a reputation in generating more money for the company. Carolyn is a national certified trainer and a board member in a travel committee.

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Sugarmade Inc. (OTCMKTS:SGMD) Report $1.01 million From BudCars Operation In July Quarter As It Focuses On Expansion

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Sugarmade Inc. (OTCMKTS:SGMD) announced the publication of current information on Form 8K filed with US SEC showing details about its position in terms of investment in Indigo Dye Group Inc.

Sugarmade realizes $1.009 million from BudCars operation

Indigo conducts operations as a pot delivery service as “BudCars.” The latest 8K filing shows information regarding the “BudCars” performance, and the gross proceed received for the quarter ended June 30, 2020. Gross sales from the operation in the quarter were around $1.009 million, and the exceptional return is due to the implementation of the BudCars’ strategy of expanding operations and increasing its product lines.

The company indicated in the filing that gross margin from the business was around 50% of sales, but because of marketing and advertising expenses and increasing manpower, the operation is yet to realize a profit. Net sales for the quarter ended June 30, 2020, was around 0.953 million.

BudCars posts impressive sales in July

The BudCars Cannabis Delivery business continued to show exceptional performance in, and by mid-July, BudCars was in line with achieving the $650,000 sales target for the month. There were over 5,000 customer orders in the month, which indicated a sequential monthly growth of 30% in sales. According to the company’s management based on the performance of BudCars in the first two weeks of July, BudCars was on the track of attaining annualized sales of $11 million by the end of Q3 2020.

Sugarmade CEO Jimmy Chan stated that the BudCars Sacramento hub has continued to show significant growth, and the company is yet to ascertain the upside potential in the area. He added that they were delighted with the performance, considering BudCars has an exclusive approach in retail cannabis distribution.

Jimmy confirmed that the company focuses on regional expansion, supply chain verticalization, and organic growth to drive growth. He said that despite making progress, for now, the impact is negligible for what is possible for BudCars in the near-term, considering the growth registered so far has mainly due to organic execution.

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Kaya Holdings Inc. (OTCMKTS:KAYS) Partners With Day Three Labs To Develop CBD Pet Products For European Market

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Kaya Holdings Inc. (OTCMKTS:KAYS) announced a strategic partnership agreement with the Denver-based cannabis innovation lab, Day Three Labs, which has research operation In Ra’anana, Israel.

Kaya collaborating with DTL to develop pet products

The companies will concentrate on their first collaborative operation of sourcing and developing various CBD supplements for pets for distribution across Europe through Kaya’s Greece joint Venture, Kaya Kannabis. Also, the Day Three Labs principals Rafi Cohen and Joshua Rubin will be serving as advisory board members of Kaya Shalvah, which is Kaya Holding’s growing and processing project expected to be constructed in Isreal.

Craig Frank, the CEO of Kaya Holdings, stated that they were delighted to work with Day Three Labs on various projects of common interest. He added that the association of Kaya with DTL will bring exclusive product development and association in the cannabis scientific space in Israel and thus benefit their service and experience. Frank said that most importantly, the relationship shows the commitment regarding the Kaya Shalvah project and the ability to collaborate with partners in the cannabis sector.

DTL CEO, Joshua Rubin said that the partnership with Kaya solidifies their efforts of driving innovation across the global cannabis space. He added that they were delighted to cooperate on introducing unique and differentiated products to the cannabis market, beginning with CBD products. Rubin concluded that they look forward to offering their cannabis knowledge to the Kaya Shalvah Advisory Board to drive value.

Kaya introduces CBD pet products in Greece

Kaya Holding’s subsidiary Kaya Brands International in partnership with its joint venture partner Greekkannabis has rolled out CBD per products in Greece and neighboring countries in Europe under the Cannamo brand. With the help of DTL, Kaya Brands developed pet product to meet demand identified by Greekkannabis.

The three companies will play a vital role in marketing of the Cannamo brand for enhanced penetration. Kaya CEO stated that Cannamo brand was a result of collaborative efforts in establishing the company’s expansion globally.

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