|By Marketwired .||
|August 28, 2013 07:05 PM EDT||
BELLEVUE, WA -- (Marketwired) -- 08/28/13 -- Lifetech Industries, Inc. (OTCBB: LTCH), announces today that it has changed its name to mCig, Inc. and completed a forward stock split on a 10-for-1 basis.
On August 2, 2013, the Company's Certificate of Incorporation was amended and restated to effect the name change and the forward stock split. The name change is part of an initiative led by incoming CEO Paul Rosenberg to reposition the company and its technology by launching a new consumer product, the mCig -- a purpose built loose leaf eCig that will be launched next month.
mCig's CEO, Paul Rosenberg, commented: "With the name change complete we can now focus on the next chapter of our business development targeting two long-term secular trends by developing consumer products that are exciting and disruptive. We will be updating our shareholders shortly with more information on our first product the mCig which will be launched in Q3 2013."
The name change and the forward stock split were also approved by the Financial Industry Regulatory Authority ("FINRA"). The name change and forward split will be effective for trading purposes on the open of business on Thursday August 29, 2013. The new symbol will be (LTCHD) for 20 business days until September 27, 2013 when the symbol will change to (MCIG).
mCig, Inc. (OTCBB: MCIG) is a technology company focused on two long-term secular trends sweeping the globe: (1) The decriminalization and legalization of marijuana for medicinal or recreational purposes (2) The adoption of electronic vaporizing cigarettes (commonly known as "eCigs") by the world's 1.2 Billion smokers. In 2013 the company will be launching its first product the mCig -- a purpose built loose leaf eCig retailing at only $9.99. Designed in the USA -- the mCig provides a superior smoking experience by heating (not burning) plant material, waxes, and oils delivering a clean vapor that produces no smoke, second hand smoke, or tar. For more information visit http://www.mcig.org
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, and future product commercialization; and the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies.