LAS VEGAS, Nevada, Oct. 19, 2021 (GLOBE NEWSWIRE) -- MJ Holdings, Inc. (“MJ Holdings” or the “Company”)(OTCQB: MJNE) is officially launching its cannabis cultivation operations at its new location “The Farm” in Amargosa Valley, Nevada after receiving approval from the Nevada Cannabis Compliance Board (CCB). Last month, the CCB completed the inspection at The Farm, formally authorizing it for cannabis cultivation use. With the completion of the final inspection, our buyers and consumers will know that we have met and exceeded the highest ethical standards. “We are thrilled by the news of the approval of our cultivation operations after the recent inspection at The Farm,” MJ Holdings CEO Roger Bloss said in a statement. “As we commence operations, we can bolster our efforts to give ourselves and our partners an unmatched and unique competitive edge as the industry forges ahead. With 260 acres, our capacities allow us to generate a high rate of speed and low cost to market, which comes as a huge advantage for Nevada growers, processors and customers.” Per the CCB’s pre-opening requirements, the Company held an inspection of The Farm to ensure the safety and security of the facility and guarantee it is operating per appropriate laws and regulations. The Company will extend its compliance with CCB guidelines by the implementation of seed-to-sale tracking, timely reporting and up-to-date security protocols. MJ Holdings is adhering to the proper statutes and regulations set forth by the CCB and is firmly committed to continued transparency and safety of our customers, shareholders, investors and employees. Paris Balaouras Founder and Chief Cultivation Officer of MJ Holdings said, “We are grateful to continue growing our cultivation operations. This allows us to position ourselves alongside third party management company expertise to exceed previous growing capabilities. During our last operation, we averaged up to 4,000 plants per acre, and we are well-situated to move the needle forward with our expected first harvest.” For more information, please contact MJ Holdings directly at (702) 879-4440. For media inquiries, contact Raquel Heras by at [email protected]. About MJ Holdings: MJ Holdings Inc. (MJ Holding) (OTC: 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 one of the largest sun-grown cannabis cultivators in the state of Nevada and is on pace to become one of the largest cultivators in the U.S. ***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. Media Contact: Raquel Heras [email protected] 315-235-9673 Read Full Linked Story Below Link Here

Who on earth, besides Mother Nature, of course, would think it a good idea to grow cannabis in the desert? Either someone who was just a little bit crazy or someone who had innovated solutions around the obvious environmental challenges indigenous to a desert clime. Between the obvious heat and water-barren land, Southern Nevada’s Mojave Desert would not seem to offer prime conditions for cultivating cannabis outdoors. Yet, there is a cannabis company that has staked its claim to grow cannabis in the heart of the Armargosa Valley. Located approximately 88 miles northwest of Las Vegas in Nye County, the Amargosa Desert is sandwiched between U.S. 95 to the north, and the California border to the south. It would seem a fitting place to grow cannabis with Death Valley National Park and Area 51 on opposing sides. In September, MJ Holdings, Inc. received approval to transfer its recreational and medical cannabis cultivation and production license from its three-acre farm located in Pahrump to The Farm, a 260-acre piece of land in Amargosa Valley. “This milestone marks the beginning of our expansion to becoming one of the largest cultivators in the U.S.,” Roger Bloss, CEO of MJ Holdings, says. Using innovation, technology, and out-of-the-box thinking, MJ Holdings plans to harness the advantages of outdoor growing—employing the sun, natural airflow, and mineral-dense soil—to benefit cannabis plants. “Mother Nature's going to do over 99 percent of the work. All we're doing is basically just guiding a little bit. And then we might be adding a little bit of light, we might add a little bit of heat, that type of thing,” explains the company’s founder and Chairman Paris Balaouras, who has been growing cannabis for more than 20 years. Although he has grown cannabis both inside and out, the latter is Balaouras’s preference. “I think that is going to be the true future,” he predicts of outdoor grows. “And that's why we're so excited about it and are doing it this way. It's moving forward but we're actually moving backwards to the way that the plant fundamentally was grown for thousands of years—to actually use the sun and use Mother Nature to get the best result, to get the strongest plant and natural selection.” You Can’t Replicate the Sun Balaouras does not consider the cultivation he is building at The Farm to be either an outdoor grow or a greenhouse grow. Instead, he refers to it as hybrid outdoor. “We've built a system using material that cuts out some of the actual harsh rays from the sun which gives you results that are more of a full spectrum type of extraction,” Balaouras explains. “When you start taking too many things away then you get less of what Mother Nature can give you. So, in comparison to an indoor grow, where you have manufactured lights or lightbulbs, you're not getting full spectrum because it's not a full spectrum lightbulb. No one's made that up yet. No one's going to copy the sun.” Additionally, the presence of bountiful sunlight and heat reduces the need for synthetic fertilizers and pesticides, and it inhibits parasitic growth. “In the desert when you're getting up to 115° that plant can handle it. Number two, there's benefits from the sun that you would never get in a regular indoor grow as far as pest control, as far as mold, yeast—it won't grow. You won't see those type of things out in the desert,” Balaouras says. “Unlike in Florida where you have relative humidities in the 50 or 60 percent range, you're going to get a lot of all those things, you're getting a lot of bugs, you're going to get a lot of mold, yeast, and fungus. Whereas in the desert, you're just not going to see any of that.” Mother Nature’s rocks stars: Water, Wind & Heat One of the most precious components critical to any crop’s success is water. In the case of The Farm, they will be utilizing groundwater from Amargosa Valley’s aquifer, rather than the surface water of Lake Mead. “We have the number one thing that you need after the land, obviously, the water. We have the water rights,” says Balaouras. “Because if you don't have water in the desert then you don't have the water anywhere, you're done.” MJ Holdings has acquired 180-acre feet of water rights. “Paris bought land that sits on an aquifer. Our aquifer is replenished by rainwater so we are not touching any of the consumer water,” adds Bloss. It might be a bit hard to fathom, but the Mojave’s three-digit temperatures are an advantage to a cannabis cultivation. “The sun is a disinfectant,” offers Balaouras. “The sun is actually a pest control. When the plant is growing at its peak vegetative state, it's 110° out there and the relative humidity is less than 10 percent so mold can’t grow. And in talking about spider mites and different pests, they can't function in that heat.” The desert’s wind-driven blow dryer effect is another helpful component to the growing process. “Because you're getting full spectrum sunlight, you get that full air exchange. You don't have 30 rotation fans in a room trying to pull out air and moving it around, you've got full air and we’ve always got a breeze out there. The plant loves it,” Balaouras enthuses. “Mother Nature's doing 99 percent. You're not hand watering, you have a watering system, you've got feeding systems. You’re basically just taking care of the plants, your de-leafing so they get a better airflow underneath the plant and that helps it along.” There is one downside to the heat—the human element. “The only negative thing is that it's hot. As soon as we get over a certain temperature, we just pull our people off. We don't want people working when it spikes right in the middle of the summer, it's just a safety situation at that point,” says Balaouras. Read Full Story Here Click Here

Nevada cannabis dispensaries exceeded $1 billion in taxable sales for fiscal year 2021. From July 1, 2020 to June 30, 2021, licensed adult-use cannabis retails stores generated $1,003,467,655 in taxable sales, according to a joint statement from the state Cannabis Compliance Board and Department of Taxations. Clark County sales made up the largest portion at $791,100,017 for fiscal year 2021. More than $159 million in revenues from the State Wholesale Cannabis Excise Tax, Retail Cannabis Excise Tax, civil penalties, licensing and other regulation fees were transferred to Nevada's Distributive Schools Account, according to the statement.

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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 [email protected] 315-235-9673 Read Full Story Here: https://finance.yahoo.com/news/mj-holdings-receives-approval-transfer-165500923.html

MJ Holdings, Inc. MJNE +8.57% + Free Alerts reported that its stock has begun trading on the OTCQB Market under the ticker symbol "MJNE" at the market open on Tuesday, September 14. Paris Balaouras, founder and chairman of MJ Holdings, which focuses on providing management and consulting services to cannabis enterprises, said that "trading on the OTCQB Market is a step forward for both the company and stakeholders, giving us the comfort and confidence to meet our goals in 2021 and beyond." Roger Bloss, CEO of the Las Vegas-based company, disclosed that OTCQB listing allows the company to bolster transparency for their shareholders and investors, "providing us with a smooth transition as we expand our efforts to a global audience." Earlier this year, MJ Holdings announced it was purchasing two cultivation and two production licenses and transferring the proper licenses to its land. Prior to this, the company inked a letter of intent regarding licenses purchase and has now progressed into a Membership Interest Purchase Agreement. "In consideration of $1.250M and 200,000 shares of our common stock (Purchase Price), we will soon fully control our own destiny as we have applied to transfer the cultivation licenses to our proprietary land: The Farm," Balaouras stated in February. Price Action: MJ Holdings' shares traded 6.04% higher at $0.4136 per share after market close on Tuesday. Read Full Article Here: https://www.benzinga.com/markets/cannabis/21/09/22946195/mj-holdings-stock-up-on-announcing-debut-on-otcqb-market

Nevada marijuana companies are mapping out plans to open consumption lounges next year under a new state law with the goal of serving the tens of millions of visitors who flock to Las Vegas annually. Until now, tourists buying cannabis products in Sin City’s retail stores have had no place to smoke, eat or consume their purchases because it’s illegal to do so in public. Moreover, consumption is not allowed in Las Vegas casinos or the city’s approximately 150,000 hotel rooms. That has put a damper on sales to out-of-state visitors in this tourist-reliant city. In 2019, Las Vegas attracted more than 42 million visitors. “When recreational cannabis was legalized here, it was legalized without a place for tourists to consume it,” said Layke Martin, executive director of the Nevada Dispensary Association. “You weren’t legally allowed to consume it in public. Lounges create a space where cannabis products can be consumed legally.” Hadhinah Felice, marketing director at Amargosa Valley-based cultivator MJ Holdings, predicts that “cannabis sales are going to skyrocket” thanks to consumption lounges. The company plans to open such a venue. “Not only locals but visitors will crowd the lounges,” Felice predicted. New law enacted Nevada is one of nine states that permit on-site consumption of recreational marijuana, according to the Washington DC-based Marijuana Policy Project, although the pandemic has complicated plans for some business owners aiming to offer such venues. A bill allowing for marijuana consumption lounges was among a flurry of last-minute measures approved by Nevada lawmakers in June, before they adjourned for the year. Gov. Steve Sisolak signed the measure into law. The state’s Cannabis Compliance Board (CCB) must finalize the rules governing the lounges. Under the new law, regulators can offer two new types of marijuana business licenses related to consumption lounges: One for retailers that want to open consumption lounges on the same property as their retail shops. One for stand-alone lounges that will be limited to single-use products, in the same manner as bars that sell alcohol. Alcohol sales will be barred in either type of establishment. Nevada has 86 cannabis retailers held by about 45 different ownership groups, Martin said. Each ownership group will be permitted to have one consumption lounge license if they have space that qualifies for one. Nearly 60 retailers have indicated they’re interested in opening consumption lounges. The CCB will provide store owners who held licenses as of July 1 written notification that they might be eligible for a permit for a retail cannabis consumption lounge. Different licenses will be issued for lounges attached to marijuana retail outlets and stand-alone lounges that offer single-use products that can be consumed on the premises. While the CCB has not yet finalized the rules for consumption lounges, state law has established certain parameters: Only the owner of a licensed adult-use store is eligible for a retail cannabis consumption lounge license – one person cannot hold both retail and independent cannabis consumption lounge licenses. At least half the licenses – 10 of the first 20 – issued to independent cannabis consumption lounges must be awarded to social equity applicants. A social equity applicant is someone who has been adversely affected by laws that criminalized cannabis-related activity. The one-time, nonrefundable application fee for a retail cannabis consumption lounge is $100,000 while the fee for an independent lounge is $10,000. The CBC expects to issue the first round of licenses by early to mid-2022. Years in the making The Nevada marijuana industry has been seeking cannabis consumption lounges for years, given the state’s heavy reliance on tourism. In Las Vegas, Planet 13 Holdings had already designated space for a consumption lounge at its superstore but then had to pivot. The customer lines to buy product there were so long that Planet 13 opted to use the space designated for its consumption lounge to double the size of the sales floor to cut the wait time from 1½ hours to about 45 minutes. Now the company is looking at a 4½-acre site with a 55,000-square-foot building adjacent to the store to build a consumption lounge, said Larry Scheffler, Planet 13’s co-CEO. “That will give us 19 acres and a 176,000-square-foot marijuana superstore complex,” he said. Planet 13 will use about 20,000 square feet of the building, which is owned by the superstore’s current landlord, for its consumption lounge and club, which will include a 4-inch-deep indoor splash pool that opens onto a 5,000-square-foot outdoor balcony. A skywalk will connect the consumption lounge to the dispensary. “We’re very bullish on it,” Scheffler said. “This is what Vegas is about – entertainment. We’ve been very successful so far, and as long as we continue to create a destination, we’ll continue to be successful.” Marijuana products sold at the Planet 13 consumption lounge will be more expensive than those sold at the superstore, and guests will not be able to bring in cannabis from other retailers, Scheffler said. “If you’re at a club at the Wynn, you can’t bring in a bottle,” Scheffler said. “If you buy a bottle of wine for $50 at a store, it might cost $200 in the club.” Like Planet 13, the Oasis Cannabis Dispensary in Las Vegas is looking at taking over a suite that’s adjacent to its retail shop to build out a consumption lounge, said Lissa Lawatsch, the store’s general manager. She anticipates customers will purchase cannabis in the store and then take it into the adjacent consumption lounge. “It depends on how the regulations are written,” she said. “We’re attached by a wall that connects the dispensary to the consumption lounge. If they allow us to connect the two, we do more with purchasing and delivering it to the table. “But it sounds like it’s going to have to be two separate entities.” Independent lounge planned Roger Bloss, CEO of MJ Holdings, plans to apply for an independent consumption lounge license because the company does not currently operate any retail stores. MJ Holdings would package and sell its own products in the consumption lounge. The company also is looking at acquiring a retail store. “To complete our vertical, we need a retail opportunity and a consumption lounge,” Bloss said. “I’m a big proponent of consumption lounges and finding a way for Nevada’s worldwide global tourist trade to consume cannabis. “I just don’t like that we put people in uncomfortable positions.” Bloss noted that, back in the day, Las Vegas didn’t have nightclubs on the Strip, but tourists wanted them, so hotels and casinos built them. “Once the hotels and casinos realized people were taking their money to other destinations, they started putting nightclubs in the hotels,” Bloss said. “Vegas will create the ultimate destination for these lounges.” Link to Full Story Below https://mjbizdaily.com/nevada-marijuana-firms-ready-consumption-lounges-to-serve-tourist-throngs/

Olivia Alexander, CEO of online global cannabis boutique Kush Queen, compared the industry to the dot com bubble. "At this stage, the industry is so young with so much room for innovation and expansion it is very hard to say how many players are going to remain once the market begins to mature and fully develop on a federal level," Alexander stated. Marco Eadie, managing director at consulting firm O'Keefe, said that well-capitalized companies would have an advantage over smaller players. "Larger companies will be much more strategic in deploying their capital," he said. Eadie added that market variables, such as state-by-state licensing and capital access, will hinder companies. Alexander believes that the number of players in the space will hinge on which companies can successfully navigate the tumultuous space, forming a reliable consumer base in the process. Major MSOs could have to pivot if vertical integration doesn't become part of federal legislation. Trevor Fencott, CEO of Fire & Flower Holdings Corporation FFLWF -0.08% + Free Alerts , believes that vertical integration won't last, thus separating the industry into product and distribution companies. "Vertical integration is uncommon in most other industries and we believe this will be true of cannabis," Fencott said. If true, both sides of the market will see "inevitable" consolidation. Like other industries, he expects significant consolidation to lead to three to five global players in each market segment, reflecting many other industries. Seth Worby, co-founder and managing partner of the Cannabis Creative Group, believes that legalization will eventually lead to the downsizing of current players as major companies swoop in to get in on the action. "They will find cannabis businesses with impressive revenue potential, brand equity, and operational standards – and they'll snatch them up at a premium too," Worby said. Non-Cannabis Brands Largely Predicted To Become Eventual Market Leaders Both major cannabis brands of today and leading non-cannabis companies could become the eventual leaders of the industry's space race. Worby predicted market leaders will ultimately be determined by scale. "Major corporations such as Pfizer Inc. PFE -2.16% , Johnson & Johnson JNJ -1.23% , Procter & Gamble Co PG -1.14% , et cetera, that have existing distribution and plants in similar markets will quickly emerge at the forefront of this race as soon as federal legalization comes about." He added that companies experienced in recreational-focused marketing, like Anheuser Busch Inbev SA BUD -0.65% + Free Alerts and Molson Coors Beverage Co Class B TAP -1.47% , will also enter and innovate the space post-federal legalization. "These types of conglomerates have stayed away from the industry because of the federal status and restrictions, but that doesn't mean they are not preparing for a shift," Worby added. Roger Bloss, CEO of cannabis holding company MJ Holdings, Inc. MJNE +7.72% , believes Jeff Bezos will be in the race as well, with Amazon.com, Inc. AMZN -1.26% likely becoming a distribution dominator. Aside from Amazon, he sees brands that are able to excel at both medical and recreational becoming eventual leaders. Leading cannabis brands weren't excluded from the conversation entirely. Eadie noted increased market caps and double-digit growth from Curaleaf Hldgs Inc. CURLF +0.18% and Canopy Growth Corp CGC -1.09% as signs of their strength. He also liked private companies, including Gage Cannabis and its continued focus on growth. "Each rising star will need to differentiate themselves in this competitive market as groups like Harvest Health & Recreation Inc. HRVSF +3.65% and Verano Holdings Corp. VRNOF +0.49% continues to acquire unique cannabis-related companies to strengthen their portfolios," Bloss noted. Read The Full Story Here https://www.benzinga.com/markets/cannabis/21/07/22232802/elon-musk-jeff-bezos-richard-branson-which-market-leaders-will-make-up-the-cannabis-industry-spa

Nevada’s marijuana industry is looking to get greener. From plastic packaging to the electricity needed to grow the plants, the cannabis industry has areas to address to lighten its environmental footprint. The head of the Nevada Dispensary Association told State of Nevada that stakeholders are working on more environmentally friendly practices and also drafting regulations that promote sustainability “Some of our businesses and our customers are demanding more green practices, from growing organically to switching to LED lights to using recyclable packaging,” said Layke Martin, executive director of the dispensary group. “From a regulatory standpoint, with each change that we look at in the regulations with the Cannabis Compliance Board, we should look at what is the direct or indirect impact this has on environmental sustainability.” The Sustainable Cannabis Coalition asks, “Why aren’t brands marketing their sustainability efforts more distinctly,” and answers its question with the observation that “navigating complex legalization policies during uncertain times in a nascent industry is enough of a challenge.” A leading member of the coalition said cannabis pioneers were so busy launching the industry and shaking things out, that attention is only now turning to improved sustainability. Listen with the Full Link Here https://knpr.org/knpr/2021-08/marijuanas-green-does-cannabis-industry-follow-suit