MJ Holdings, Inc. is Pleased to Announce the Addition of Jim Kelly as Interim Chief Financial Officer

Rhea-AI Summary

MJ Holdings, Inc. (OTC Pink: MJNE) has appointed Jim Kelly as its Interim Chief Financial Officer effective October 1, 2020. Kelly has extensive experience in the financial sector, having founded Sunstate Futures, LLC, and served as President of Sunstate Equity Trading. The management change aims to strengthen financial controls during a crucial C-Suite transition.

Positive

• Appointment of Jim Kelly as Interim CFO enhances financial management.
• Kelly's extensive experience (founder of Sunstate Futures) could lead to improved financial controls.

Negative

• None.

Las Vegas, NV, Oct. 15, 2020 (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 update shareholders on the addition of Jim Kelly as its Interim Chief Financial Officer (“CFO”).

On October 1, 2020, the Company made an addition to its management team by retaining Jim Kelly as Interim CFO. The Company kindly advises shareholders to review its Current Report on Form 8-K filed with the Securities and Exchange Commission on October 8, 2020 for the full terms of Mr. Kelly’s Employment Agreement.

Jim Kelly

From 2000 to the present, Mr. Kelly has served as the Founder and Managing Member of Sunstate Futures, LLC, a National Futures Association registered firm. In addition, Mr. Kelly currently serves as the President and Director of Capfin, a Cayman Islands monetary authority registered Foreign Investment Firm. From 1998 through 2007, Mr. Kelly served as the President of Sunstate Equity Trading, a National Association of Securities Dealers broker dealer. From 1984 through 2009, Mr. Kelly held several securities licenses inclusive of: Series 7, 24, 27 and 63. Mr. Kelly serves as a board level consultant to several public companies as well as securities clearing firms. 

“As we navigate the critically important aspects of engaging in a C-Suite ‘reset’, we are privileged to have a professional of Jim’s stature to help guide us through the processes with regard to our financial controls and reporting,” stated Roger Bloss, Interim CEO. “Along with the other recent additions to our management team and board of directors, the addition of Mr. Kelly will allow Paris Balaouras, Founder & Chief Cultivation Officer, to continue to better focus the Company’s resources on its core Las Vegas business.”

About MJ Holdings, Inc.

MJ Holdings Inc. (OTCPK: MJNE) is a diversified holding company providing services to the regulated cannabis industry. Through our subsidiaries we provide cultivation and production, management services as well as infrastructure sales and development. The Company’s cultivation operations include management of a three-acre co-operative for in the Amargosa Valley of Nevada. The Company currently manages a State of Nevada issued cannabis production license and expects to provide manufacturing and production facilities and resources to third party manufacturers and cultivators as part of our production campus that is currently under development. The Company also provides management consulting services to state licensed dispensaries.

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- Interim Chief Executive Officer
roger@mjholdingsinc.com
(805) 796-6663

FAQ

Who is the new Interim CFO of MJ Holdings, Inc.?

Jim Kelly has been appointed as the new Interim CFO of MJ Holdings, Inc.

When was Jim Kelly appointed as Interim CFO?

Jim Kelly was appointed as Interim CFO effective October 1, 2020.

What is the stock symbol for MJ Holdings, Inc.?

The stock symbol for MJ Holdings, Inc. is MJNE.

What experience does Jim Kelly bring to MJ Holdings, Inc.?

Jim Kelly brings extensive financial experience, having founded Sunstate Futures and served as President of Sunstate Equity Trading.