MJ Holdings Receives Approval to Transfer Cultivation Licenses to The Farm - a 260 Acre Farm in Amargosa Valley

LAS VEGAS, UNITED STATES


LAS VEGAS, Sept. 08, 2021 (GLOBE NEWSWIRE) -- MJ Holdings, Inc. (“MJ Holdings” or the “Company”)(OTC Pink: MJNE) is proud to announce the Company has received a unanimous vote approving a Special Use Permit from the Nye County Board of Commissions to transfer its recreational and medical cannabis cultivation and production license from its 3-acre farm located in Pahrump, Nevada to The Farm — a 260-acre farm in Amargosa Valley, Nevada.

This key approval allows MJ Holdings to commence work on The Farm. The Company will begin operations by activating its first 100 acres. The activation process will see the implementation of important features including fencing installation, added security measures, planning field, updated electricity, road construction, utility activation and initial systems aggregation. The license must undergo a transfer process before the Company can officially begin cultivation, but MJ Holdings is scheduled to grow its first succession of crops in 2021.

“We’re pleased to announce to our MJ Holdings shareholders that the appropriate cultivation licenses for The Farm have officially been approved. This milestone marks the beginning of our expansion to becoming one of the largest cultivators in the U.S.,” said Roger Bloss, CEO of MJ Holdings.

The Company’s extension to The Farm follows its license management agreement model, pioneered by Founder and Chairman Paris Balaouras. The model offers a mutually beneficial opportunity for companies looking to expand their footprint into the Nevada market, mitigating overhead costs and granting access to the Company’s cultivation and production license, grow facilities, seed genetics labs, and banking partner. Through these partnerships, MJ Holdings aspires to be the choice cultivation operator for cannabis businesses across Nevada.

MJ Holdings is excited about the license transfer because it aligns with the Company’s sustainability goals. The Farm will utilize the groundwater of Amargosa Valley’s aquifer, rather than the surface water of Lake Mead. The new location also reduces the need for synthetic fertilizers and pesticides, due to the presence of bountiful sunlight and heat, inhibiting parasitic growth. MJ Holdings will harness the advantages of outdoor growing, employing natural airflow and mineral-dense soil to benefit cannabis plants. MJ Holdings is excited to use the ecosystem to its full potential to treat its cannabis plants and promote a sustainable approach to cultivation.

“Coupled with the immense growth of local interest and the enormous Las Vegas tourism industry on the rebound, we are well-positioned to serve companies looking to enter this booming market. The advantages of The Farm, including excellent soils, organic growth, and company-owned water rights as well as key advancements in our core team have brought forth prospective opportunities to forge partnerships with unique companies in the Nevada industry,” said Paris Balaouras, Founder and Chairman of MJ Holdings.

About MJ Holdings:

MJ Holdings Inc. (MJ Holding) (OTC Pink: MJNE) is a highly diversified, publicly-traded, cannabis holding company headquartered in the greater Las Vegas area. MJ Holdings currently provides cultivation management, licensing support, production management and asset and infrastructure development. Additionally, MJ Holdings is the largest sun-grown cannabis cultivator in the state of Nevada, and is on pace to become one of the largest cultivators in the U.S.

Media Contact: Raquel Heras
Raquel@nisonco.com
315-235-9673