MJ Holdings, Inc. Acquires MJH Research, Inc. to Expand Cultivation Operations
MJ Holdings (OTC Pink: MJNE) has announced the acquisition of MJH Research, Inc. as part of its strategy to expand cultivation operations in Florida. The acquisition was finalized on July 11, 2022, following a Common Stock Purchase Agreement signed on July 8, 2022. MJ Holdings issued 7,000,000 shares of its common stock in exchange for 100% of MJH Research's shares. This acquisition aims to enhance the company's capabilities in environmental, social, and governance (ESG) initiatives related to cannabis cultivation.
- Acquisition of MJH Research expands MJ Holdings' cultivation capabilities in Florida.
- Strategic focus on ESG initiatives could enhance overall business growth and environmental sustainability.
- The transaction strengthens MJ Holdings' operational footprint in the regulated cannabis industry.
- None.
Las Vegas, NV, July 14, 2022 (GLOBE NEWSWIRE) -- MJ Holdings, Inc. (OTC Pink: MJNE) a diversified holding company, which through its subsidiaries, provides services to the regulated cannabis industry inclusive of cultivation and production management, infrastructure development and sales is pleased to inform shareholders that it has acquired MJH Research, Inc, a Florida corporation, to expand its cultivation operations.
On July 8, 2022, MJ Holdings, Inc. (the “Buyer”) entered into a Common Stock Purchase Agreement (the “Agreement”) with MJH Research, Inc. (the “Company”) and Sunstate Futures, LLC (the “Seller”), a Florida limited liability company. Under the terms of the Agreement, the Seller agreed to sale all issued and outstanding shares of common stock (100,000 shares) (the “Common Stock”) of the Company to the Buyer. In consideration of the purchase of the shares of Common Stock, the Buyer agreed to issue the Seller 7,000,000 shares of its common stock. The transaction closed on July 11, 2022.
About MJH Research, Inc.
MJH Research, Inc. (MJHR) operations center around providing consulting services for growing techniques, management and cultivation of crops, as well as licensing support, production and asset and infrastructure development.
MJHR is focused on assisting clients with successful development and execution of their Environmental, Social, and Governance (ESG) initiatives into operational production. MJHR applies a consultive approach which provides the flexibility for clients to integrate and incorporate their existing assets to achieve these goals.
MJHR believes that incorporating sustainable practices within global corporate governance strategies is not only good for the environment but also good for business. Carbon mitigation, sequestered through sustainable agricultural processes, continues to be an increasingly important component of the overall global initiative to meet UN Emissions reduction targets. As such, MJHR devotes its research funds, experience and management to assist companies to successfully act on these efforts.
Paris Balaouras, Chief Cultivation Officer, noted, “MJ Holdings acquisition of MJHR is an important and strategic first step into the ESG area. Growing hemp provides an effective and valuable method of carbon reduction, and MJ Holdings believes it can apply its extensive cultivation knowledge to participate and benefit from increasing corporate focus on these ESG initiatives.”
Roger Bloss, Chief Executive Officer, added, “We are thrilled to expand the MJ cultivation expertise from our home in Las Vegas to Florida, and expect this to be the foundation for future growth.”
About MJ Holdings, Inc.
MJ Holdings Inc. (OTCPK: 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.
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:
Roger Bloss, Chief Executive Officer
roger@mjholdingsinc.com
(702) 879-4440
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