MJ Holdings Inc. (MJNE)

[StocksGoneWild]

This is a good deal====>

On January 22, 2021, (the “Effective Date”), MJ Holdings, Inc. (“MJNE”) entered into a Cultivation Management and Sales Agreement (the “Agreement”) with MKC Development Group, LLC (the “Company”). Under the terms of the Agreement, MJNE shall retain the Company to provide oversight and management of MJNE’s cultivation and sale of products at MJNE’s Amargosa Valley, NV farm. The Agreement shall commence on the Effective Date, continue for a period of ten (10) years and automatically renew for a period of five (5) years.

As deposits, security and royalty, the Company shall pay to MJNE:


(i) a $600,000 non-refundable deposit upon execution of the Agreement, and;

(ii) a security deposit of $10,000 to be applied against the last month’s obligations and a $10,000 payment to be applied against the first month’s rent, and;

(iii) $10,000 on the first of each month for security and compliance, and;

(iv) a royalty of 10% of gross revenue less applicable taxes (hereinafter “Net Sales Revenue”) on all sales of product by the Company; and

(v) the Company shall, after the first two (2) years from execution of the Agreement, be responsible to pay to MJNE a minimum royalty of $83,000.00 per month.

https://ih.advfn.com/stock-market/USOTC/mj-pk-MJNE/stock-news/84216479/current-report-filing-8-k