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MJ Holdings Inc. (MJNE)
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10/16/2019 4:24:37 PM
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A three-acre, hybrid, outdoor, marijuana-cultivation facility (the “Three Acre Facility”)
in the Amargosa Valley of Nevada, which had its first harvest late in 2018 and recently initiated a planting expected to harvest in late 2019. We intend to harvest at least two grows per year beginning in 2020.
260 acres of farmland for the purpose of cultivating additional marijuana
(the “260 Acres”) purchased in January of 2019. This property, on which we intend to utilize a state-of-the-art, Cravo cultivation system for growing an additional five acres of marijuana in 2020, is contiguous to the property that we manage in Amargosa. This cultivation system should allow us to harvest two full crops per year. The land also has more than 180-acre feet of permitted, water rights, which will provide more than sufficient water to markedly increase the Company’s marijuana cultivation capabilities. Over time, the Company expects to expand the growing acreage on this property, either for its own inventory or in partnership with third parties seeking to market their branded products in Nevada.
A definitive agreement to acquire an additional cultivation license and production license
(the “New Cultivation and Production Licenses”), both currently located in Nye County Nevada. We expect to consummate this transaction in the third quarter of this year after receipt of all necessary regulatory approvals – after which we will transfer the Cultivation License to our 260-acre facility and the Production License to our planned Production and Hemp Seed Generation Facility in a building we’ve leased in Pahrump, Nevada.
Indoor cultivation facility build-out in the City of Las Vegas (the “Indoor Facility”)
. We hold a Medical Marijuana Establishment Registration Certificate for a building located in the heart of Las Vegas in which we expect to invest more approximately $4,000,000, in partnership with and funded by an experienced indoor cultivator, to the build-out of this more than 17,000 square foot, state-of-the-art facility to produce high-quality bud, but also a branding asset that will be an agri-tourism destination to see and learn about our Highland Brother Brand and cultivation techniques.
Exploration of cannabis-related opportunities in the European Union
, with a particular focus on Greece – through our recently-established MJ International Research Company, Ltd., headquartered in Dublin, Ireland.
The Highland Brothers Brand will be the first and ultimately flagship brand for the Company
. Designed as “lifestyle brand” that encompasses the culture of cannabis, including the evolution of the people to stand up against the status quo and rebel against the powers persecuting the people of cannabis, we intend for the brand itself to create a movement. Highland Brothers will empower individuals to embrace the brand and movement, featuring unique and exclusive cannabis products and wearable symbols that will connect the user to the brand, ensuring our success. We have begun this process in Las Vegas NV; by partnering with other production facilities in legal recreational states, we intend to grow the brand with speed to market as the determining force.
A wellness hotel concept
(“Alternative Hospitality”) – in partnership with a successful hotel operator, we are developing cannabis-centric hotel properties (the first of which will be in Palm Desert, CA and the second is proposed for Las Vegas) focusing on the wellness aspects of cannabis and cannabis-related products – which also will serve as a vehicle to promote the Company and its Highland Brand.
– the Company is actively engaged in negotiations that it believes will result in it receiving at least one dispensary license in the Las Vegas market. The Company also is exploring license opportunities in Reno, Nevada and acquiring an existing licensed dispensary in Las Vegas.