MJ Holdings Completes First Harvest
January 22 2019 - 9:30AM
InvestorsHub NewsWire
MJ Holdings Completes First Harvest
Las Vegas, NV -- January 22, 2019 -- InvestorsHub NewsWire -- MJ
Holdings, Inc. (OTCQB: MJNE) (the “Company”), a leader in the
Nevada cannabis market, announces the preliminary results of its
first harvest at its three-acre hybrid outdoor-mesh cultivation
facility in Amargosa, Nevada.
On November
30, 2018, the Company began harvesting more than 7,700 marijuana
plants representing thirteen different strains, including the very
popular Blue Dream, Chem Dog and Sour Diesel. Having completed the
harvest on December 24, 2018, the drying of trim, curing of flower
and testing of product is continuing. Initial test results on over
4,000 lbs. of marijuana plant trim have returned a 95% passing
rate, among the highest of any grower in Nevada.
“We could not be happier with the results of this initial grow,”
Paris Balaouras, the Company’s CEO said. He further stated, “Our
hybrid-mesh growing system performed as we expected and firmly
established our ability to grow marijuana in the Nevada
desert.”
In the first two weeks of January the Company sold about 1,000
lbs. of trim to a number of leading local Las Vegas brands and
dispensaries. Mr. Balaouras stated, “We are most encouraged by our
returning customers who have been impressed by the overall quality
of our products.”
The Company will utilize some of the remaining trim to produce
high potency THC distillate for use in its Highland Brothers Titan
Q-Cup quartz based vaping system and will also manufacture Highland
Brothers Premium Pre-rolls, which are very popular with visitors to
Las Vegas. We will also market our high-end flower products to Las
Vegas dispensaries under the Highland Brothers brand.
Overall, we expect to sell more than 6,000 pounds of marijuana
products with gross revenues exceeding $6,000,000 during over the
next 90 to 120 days.
About MJ Holdings, Inc.
MJ Holdings Inc. (OTCQB: MJNE) is a diversified publicly traded
holding company providing management and consulting services to the
regulated cannabis industry. Through our subsidiaries we provide
cultivation and production management services and infrastructure
development. Our management operations include a three-acre outdoor
marijuana cultivation facility in the Amargosa Valley of Nevada, as
well as a fully licensed indoor agritourism facility located in the
city of Las Vegas known as the Highland Show-Grow. We are also
active in identifying and acquiring revenue producing assets and
licenses within legalized cannabis markets both nationally and
internationally.
Safe Harbor
The information provided in this press release may include
forward-looking statements relating to future events or the future
financial performance of the Company. Because such statements are
subject to risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking
statements. Words such as "anticipates," "plans," "expects,"
"intends," "will," "potential," "hope" and similar expressions are
intended to identify forward-looking statements. These
forward-looking statements are based upon current expectations of
the Company and involve assumptions that may never materialize or
may prove to be incorrect. Actual results and the timing of events
could differ materially from those anticipated in such
forward-looking statements as a result of various risks and
uncertainties. Detailed information regarding factors that may
cause actual results to differ materially from the results
expressed or implied by statements in this press release relating
to the Company may be found in the Company's periodic filings with
the Securities and Exchange Commission, including the factors
described in the sections entitled "Risk Factors", copies of which
may be obtained from the SEC's website at www.sec.gov. The
parties do not undertake any obligation to update forward-looking
statements contained in this press release.
Company Contact: Sabrina Mahmud info@mjholdingsinc.com
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