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MJNE - MJ Holdings Inc News Story

$0.13 0.0  0.0%

Last Trade - 13/08/20

Sector
Financials
Size
Micro Cap
Market Cap £6.53m
Enterprise Value £7.49m
Revenue £925k
Position in Universe 5697th / 6401

Nevada Dispensaries Now Providing Curbside Pickup

Tue 5th May, 2020 3:08pm
Nevada Dispensaries Now Providing Curbside Pickup

Las Vegas, NV, May 05, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- MJ Holdings, Inc. (OTCPK: MJNE) (the “Company”):  Nevada Governor Steve Sisolak announced on April 30, 2020 that marijuana dispensaries in Las Vegas and throughout Nevada could begin selling their products for curbside pickup beginning on May 1st. Initially, Gov. Sisolak declared marijuana dispensaries essential, but quickly moved to allow home delivery only. Many dispensaries were unprepared to switch to a delivery only model and had remained closed from March 20th until now. We expect wholesale and retail sales to slowly rise as all of the State’s dispensaries reopen for curbside pickup. The recently formed Nevada Cannabis Compliance Board, which will take over regulatory authority from the Department of Taxation on July 1, 2020, is overseeing the dispensary re-openings and their plans for curbside pickup.

The Company expects demand for our products to steadily increase over the coming weeks and we hope to return to pre-pandemic sales levels by the middle of the third quarter. “Our sales momentum was steadily increasing in the second half of the first quarter before coming to a halt in late March due to the COVID-19 pandemic,” stated Company CEO, Paris Balaouras. “We are happy to see the dispensaries coming back online and we are well positioned to serve their needs.” The Company has approximately 1,400 lbs. of flower available for sale and an additional 1,400 lbs. of trim. The Company is presently growing 7,000 plants on a one-acre portion of our Amargosa, NV cultivation facility and we expect to harvest an additional 1,300 lbs. of marijuana flower and trim in late June of this year.

 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. Our cultivation operations include management of a three-acre co-operative for in the Amargosa Valley of Nevada. We currently manage a State of Nevada issued cannabis production license and expect to provide manufacturing and production facilities and resources to third party manufacturers and cultivators as part of our production campus, which is currently under development. We additionally provide management consulting services to state licensed dispensaries. We are also active in identifying and seeking to acquire revenue producing assets and licenses within legalized cannabis markets both nationally and internationally.

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:

Al Reasonover 

Al@mjholdingsinc.com

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