MJ Holdings Set to Expand its 2019 Grow Capabilities
February 06 2019 - 8:43AM
InvestorsHub NewsWire
Las Vegas, NV -- February 06, 2019 -- InvestorsHub NewsWire --
MJ Holdings, Inc. (OTCQB: MJNE) (“MJH” or the “Company”), a leader
in the Nevada cannabis market, has acquired land in the Amargosa
Valley of Nevada to utilize for expansion of its marijuana
cultivation capabilities.
The Company, in conjunction with Let’s Roll Holdings, LLC has
acquired 100% of the membership interests of Farm Road, LLC, the
owner of two parcels of fertile farmland and the related water
rights. MJH will utilize the land to expand its hybrid-mesh
cultivation capabilities, initially planting ten additional acres
of marijuana in 2019.
MJH recently completed its first harvest of three acres of
marijuana plants at a nearby facility that it manages for another
cultivator. “Due to the enormous success of our 2018 grow we needed
to find additional suitable land to expand our capabilities for
2019,” said Terrence Tierney, MJH’s Chief Administrative Officer.
The Company has executed a Letter of Intent to acquire two existing
marijuana cultivation and production licenses in Nye County,
Nevada. The Company has begun the process of perfecting these
licenses in order to commence operations on the newly acquired land
in the spring of 2019.
Paris Balaouras, MJH’s CEO, said, “Utilizing our hybrid-mesh system
we have proven that we can successfully grow marijuana in the
Nevada desert with higher yields per plant and considerably lower
costs than in a traditional greenhouse or indoor setting.” Mr.
Balaouras further stated, “We are confident that we can
considerably increase our 2019 production of marijuana flower and
trim on the 13 acres we will be cultivating this year.”
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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