MCIG, INC. (OTCMKTS:MCIG) Files An 8-K Entry into a Material Definitive Agreement

ITEM 1.01 Entry Into a Material Definitive Agreement

The Company has cancelled 5,124,923 shares of common stock of the
company, under 4 separate agreements.

On January 17, 2017 the Company returned to treasury 1,700,000
shares of common stock under a settlement agreement with the
previous owners of Vapolution, Inc., (Vapolution). MCIG elected
to close the operation as a standalone entity and terminate its
cost basis investment. The Company will continue selling the
Vapolution brand products under MCIG.

On January 31, 2017, in settlement of services provided, the
Company cancelled 2,560,336 shares of common stock by two
shareholders who obtained the stock as stock based compensation.
The company recorded a reduction of stock based compensation
based upon the issue price (cost basis), not current market
price. The cost basis of the agreements was $47,472.

On February 13, 2017, in settlement of services provided, the
Company cancelled 964,587 shares of common stock by a shareholder
who obtained the stock as stock based compensation. The company
recorded a reduction of stock based compensation based upon the
issue price (cost basis), not current market price. The cost
basis of the agreements was $36,000.

About MCIG, INC. (OTCMKTS:MCIG)

mCig, Inc. is engaged in manufacturing, marketing and distributing electronic cigarettes, vaporizers and accessories under the mCig brand name. The Company offers electronic cigarettes and related products through its online store, mcig.org, as well as through its wholesale, distributor and retail programs. Its segments include Construction, Internet Sales and Wholesale. The Construction segment develops, designs, engineers, and constructs modular buildings with elements that assist cannabis growers in the market. Each modular building is designed for each customer. The Company tracks various retail sales, through the Internet segment through the consolidation of all online retail sales from various Websites. It provides streamlining of administrative and documentation services, consolidation of inventories and supports economy of scale. The wholesale segment works with distribution channels in electronic vaporizing cigarettes (eCig) and marijuana cigarettes (Rllies), among others.

MCIG, INC. (OTCMKTS:MCIG) Recent Trading Information

MCIG, INC. (OTCMKTS:MCIG) closed its last trading session down -0.015 at 0.372 with 2,482,196 shares trading hands.