The rising effects of the growing cannabis industry are moving to other segments of the economy, particularly in industries such as unique cannabis infused products and commercial lighting developments as firms hurry to acquire and develop improved cannabis grow equipment. The cannabis operators that are in focus include mCig Inc (OTCMKTS:MCIG), Arcturus Growthstar Technologies Inc (OTCMKTS:AGSTF), Medical Marijuana Inc(OTCMKTS:MJNA) and Greengro Technologies Inc(OTCMKTS:GRNH).
mCig has been one of top marijuana picks in the last couple of months for many market experts. The firm has a subsidiary unit called Scalable, and its responsibility is to construct grow facilities for customers. Businesses have been steady so far, and the firm has five assignments presently under construction, and a backlog of over $6 million.
Its three flagship assignments are Green Leaf, Solaris and Sin City. All the three of them are in Nevada, and this fact in itself is a vital growth driver. In the most recent letter released to shareholders, CEO Paul Rosenberg stated that it is imperative to note that if Nevada approves adult use cannabis, they will see an unprecedented socio-economic influence in a state already designed and fueled by entertainment and tourism.
Well, Nevada did approve cannabis after the election, and the market is waiting to witness that unprecedented impact. Particularly, the industry can witness a flood of recreational centers coming up, and a buzzing market built around these centers. Of course, they will require someplace to cultivate the supply that they plan to sell, and it is where mCig is all prepared to capitalize.
The firm is intending to establish its funds building grow facilities for retail clients, who will then utilize the facilities to cultivate the product they offer to the public. Right now, mCig’s Green Leaf Farms and Sin City assignments are moving ahead of schedule, and will be finished a view to imminent expansion of their production capability.
As market analysts highlighted previously, there’s a 10% margin on the establishment of these facilities, and the firm charges a monthly management fee on closure.