Mj Holdings - MJNE STOCK NEWS

MJ Holdings (OTCQB: MJNE) has announced its transition to the OTCQB Market, effective September 14, 2021. This listing aims to enhance the company's visibility and compliance, adhering to high financial standards. Paris Balaouras, the Founder, emphasized improved stakeholder relations and strategic goals, while Roger Bloss, CEO, noted that this step will support transparency and expand their reach in the cannabis sector. The OTCQB is known for providing reliable trading experiences and information to investors, enhancing credibility for listed companies.

MJ Holdings (OTC Pink: MJNE) has received unanimous approval from the Nye County Board of Commissions to transfer its cannabis cultivation and production license to a new 260-acre farm in Amargosa Valley, Nevada. This move allows the company to start operations on the first 100 acres and is positioned to enhance its cultivation capabilities. The farm aims to utilize local groundwater sustainably and implement natural growing practices that decrease reliance on synthetic inputs. CEO Roger Bloss and Founder Paris Balaouras emphasized the strategic advantages and anticipated partnerships in Nevada's growing cannabis market.

MJ Holdings, Inc. (OTC PINK: MJNE) reported a robust Q1 2021, showcasing a net income of $7,226,184, a significant turnaround from a loss of $1,210,532 in the previous year. The company successfully sold 1.5 billion shares, netting over $6.4 million for infrastructure expansion at its 260-acre facility, The Farm. Recent licensing transfers and management contracts with several development companies position MJNE strategically in the cannabis industry, with expectations of producing 100,000 pounds of cannabis, potentially generating $100 million in gross revenue by 2022.

MJ Holdings clarified its May 25, 2021 press release regarding its sale of Healthier Choices Management Corp. (HCMC) common stock, which was completed in February 2021. The company confirmed that no recent market transactions in HCMC stock have occurred. MJ Holdings, identified by the ticker MJNE, is focused on providing cultivation and production services within the regulated cannabis industry and is acquiring cannabis cultivation and production licenses in Nevada.

MJ Holdings, Inc. (OTC Pink: MJNE) has announced the successful sale of its 1.5 billion shares in Healthier Choices Management Corp, generating over $6.4 million. This capital will be used to enhance its infrastructure at The Farm in Amargosa Valley, Nevada. The company aims to solidify its position as the largest cannabis cultivation facility in Nevada. Key executives expressed confidence that these funds will bolster their balance sheet and expand cultivation licenses, driving future growth and enhancing revenue streams through management agreements.

MJ Holdings (OTC Pink: MJNE) has entered a cultivation management agreement with Green Grow Investments Corporation to develop 10 acres at the Amargosa Valley Farm. This agreement marks the third collaboration for MJNE, which aims to build the largest cannabis cultivation facility in Nevada. Green Grow plans to construct 260,000 sq ft of greenhouses, with the first phase expected to yield 100,000 sq ft of premium flower by fall 2021. The initiative could lead to significant revenue growth through multiple management agreements.

MJ Holdings, Inc. has announced a second cultivation management agreement with Natural Green, LLC at its 260-acre farm in Amargosa Valley, following a similar agreement with MKC Development Group. The initial term of the contract is 10 years, with extensions available, and includes a significant deposit and minimum revenue expectations starting in year three. This partnership is expected to increase cultivation capacity from 3 to over 15 acres, enhancing the company’s financial stability and operations as tourism in Las Vegas rebounds, approaching pre-pandemic levels.

MJ Holdings, Inc. (OTC Pink: MJNE) announced the successful completion of its initiative to achieve SEC filing compliance. Former Interim-CFO Jim Kelly will leave to pursue stock analysis and consulting. Since joining in October 2020, Kelly played a key role in stabilizing the company's finances and ensuring timely filings. The company is restructuring its financial team, with Bernie Moyle stepping in as Principal Financial Officer. The organization aims to strengthen its compliance and audit functions as it continues to operate in the cannabis sector.

MJ Holdings, Inc. has initiated construction for its cultivation facility at The Farm in Amargosa Valley, Nevada, pending a successful license transfer. The project will cover 20 acres and includes improvements for both proprietary and third-party cultivation, particularly for MKC Development Group under a management agreement. Initial phases will focus on operational efficiency and product diversity, leveraging proprietary strains developed for arid environments. The company aims to enhance long-term shareholder value through these strategic developments.