mCig, Inc. (MCIG) CEO Rosenberg Returns 5M Series A Preferred Shares

September 28, 2016 7:04 AM EDT

News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.

mCig, Inc. (OTC: MCIG), a diversified company servicing the legal cannabis, hemp, and CBD markets, announced today its Chairman and CEO, Paul Rosenberg, is pleased to announce he has voluntarily returned 5 million Series A Preferred shares, representing 50 million underlying common stock to the company treasury. The process will be completed by September 30th, 2016.

"At MCIG, our shareholders are important to us and by returning 50 million common shares back to the treasury we instantly create additional value to the shareholders & health of the company. The return of these shares demonstrates management's desire to maintain a capital structure that supports growth without resorting to the increasing of our authorized shares. This is an integral part of MCIG Inc.'s long term corporate strategy. By unlocking shareholder value first, we lay a foundation that is poised to grow in our target markets," said Paul Rosenberg, CEO of mCig, Inc.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Corporate News, Insider Trades

Add Your Comment