Miami, FL, July 17, 2014 (GLOBE NEWSWIRE) -- MJ Holdings, Inc. (OTC: MJNE), a Florida-based real estate lessor to licensed marijuana growers and dispensary operators within the regulated marijuana industry, announced today that it plans to apportion a significant amount of its investment cash position to support the acquisition of new properties in Washington State targeted to bringing financial controls and maturity to the burgeoning cannabis-based industry.
"As MJ Holdings has been a part of the phenomenally rapid growth of the cannabis industry in Colorado, we know that there is both a demonstrated urgency in Washington for capital support for the real estate component of this industry, as well as a call for mature seasoned financial investors to provide their leadership experience to help businesses to establish themselves," said Shawn Chemtov, MJ Holdings co-CEO and co-chairman.
MJ Holdings obtains and leases commercial property to licensed marijuana operators, providing them with comprehensive turnkey growing spaces and related facilities to enhance their businesses. The company offers these licensed operators real estate solutions and real estate-backed financial products, including hard money loans and sale/lease back transactions. MJ Holdings has recently acquired a property in Denver but does not and will not, until such time as federal law allows, grow, harvest, distribute or sell marijuana or any substances that violate the laws of the United States.
"MJ Holdings has access to millions of dollars of capital available to be leveraged quickly, strategically and responsibly to support licensed operators in Washington State capitalize on marijuana business opportunities," said Adam J. Laufer, MJ Holdingsco-CEO and co-chairman.
About MJ Holdings
MJ Holdings, Inc., a publicly traded company (MJNE), acquires and leases real estate to licensed marijuana operators, including, but not limited to, providing complete turnkey growing space and related facilities to licensed marijuana growers and dispensary owners. Additionally, MJ Holdings plans to explore ancillary opportunities in the regulated marijuana industry. For more information please visit us at www.mjholdingsinc.com.
The Company does not and will not, until such time as Federal law allows, grow, harvest, distribute or sell marijuana or any substances that violate the laws of the United States of America.
Safe Harbor Statement
This press release contains certain forward-looking statements that are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words such as "expects," "anticipates," "plans," "believes," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. These forward-looking statements concern MJ Holdings' operations, economic performance, financial condition, financial services and product offerings and are based largely on MJ Holding's beliefs and expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of MJ Holdings to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Certain of these factors and risks, as well as other risks and uncertainties are stated in MJ Holdings' Annual Report on Form 10-K for the fiscal year ended December 31, 2013 and in MJ Holdings' subsequent filings with the U.S. Securities and Exchange Commission. These forward-looking statements are made as of the date of this press release, and MJ Holdings assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements.