mCig Inc.

mCig Inc., a lifestyle brand dedicated to cannabis and hemp-based CBD products, announced that it would soon begin harvesting the first crop of organic hemp from its subsidiary, NYAcres. The project is part of a joint venture between NYAcres and the FarmOn! Foundation, which earlier this year was granted permission to participate in the state of New York’s Industrial Hemp Agricultural Research Pilot Program. The harvest, which will begin in the next two to three weeks, is expected to yield approximately 55,000 pounds of hemp biomass. The crop will be used for CBD extraction and sold through mCig’s recently launched CBD Market. mCig currently projects that the harvest will yield the company approximately $10 million.