AP NEWS

MJIC Acquires Puff Pack

September 4, 2018

LOS ANGELES--(BUSINESS WIRE)--Sep 4, 2018--MJIC, Inc. (“MJIC” or the “Company”), California’s leading provider of fully-licensed cannabis wholesale distribution, retail, compliance and supply chain solutions, announced today the acquisition of Puff Pack, an online, on-demand subscription service.

Puff Pack, currently based in Los Angeles, boasts a global clientele, with as many as 3,000 subscribers receiving monthly curated packages with the latest ancillary products.

“MJIC is making significant progress on our ambitions to be California’s leading omni-channel operator, connecting every vertical in the cannabis and ancillary product supply chains. MJIC’s strategic acquisition of Puff Pack combines two successful businesses for the benefit of our customers and investors,” said Dmitry Gordeychev, MJIC’s Chief Operating Officer.

Puff Pack’s operations will be integrated into MJIC’s highly successful subsidiary Rolling Paper Depot (“RPD”), based in Phoenix, Arizona. MJIC believes that the operational support the Puff Pack business unit will receive as part of the Company’s broader ancillary platform will allow it to aggressively ramp up its subscriber base, generate significant revenue growth, and achieve considerable operational efficiencies.

“The RPD team is excited to welcome Puff Pack, whose highly successful subscription packages complement our existing product portfolio, which we believe will further strengthen our ability to provide a diverse and high-quality offering to our customers. I look forward to continued success in collaboration with Puff Pack’s management,” said Jarrod Smith, MJIC’s President of Unregulated Operations.

Justin Lyle, Chief Executive Officer of Puff Pack, added: “We are proud to join the MJIC team and believe this acquisition will enable Puff Pack to grow and allow us to better serve our growing subscriber base. MJIC and its subsidiaries have a strong track record, and we look forward to being aligned with an industry leader in compliant cannabis distribution and services.”

About MJIC, Inc.

MJIC, based in Commerce, California, is the first fully-licensed and integrated infrastructural and services platform for compliant cannabis. The Company services the needs of lawful operators across the supply chain, from the cultivator to the consumer, and from long-haul statewide commerce to the local last mile. MJIC augments this business-to-business value proposition with a growing portfolio of owned and operated retail operations located in major metropolitan markets throughout California and beyond, including brick-and-mortar dispensaries and local on-demand delivery services, as well as e-commerce and subscription offerings. To learn more, please visit: www.mjic.com.

About Puff Pack

Puff Pack markets and sells third-party branded ancillary products to end-users throughout the United States and around the world through a proprietary e-commerce website on a monthly subscription basis. Puff Pack’s service introduces three distinct advantages to the ancillary products market: affordability, convenience, and discretion.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180904005168/en/

CONTACT: for MJIC

Dave Quast, + 1 (213) 452-6348

dave.quast@fticonsulting.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: HEALTH ALTERNATIVE MEDICINE RETAIL SPECIALTY

SOURCE: MJIC, Inc.

Copyright Business Wire 2018.

PUB: 09/04/2018 10:15 AM/DISC: 09/04/2018 10:15 AM

http://www.businesswire.com/news/home/20180904005168/en

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