Las Vegas, NV, March 25, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — MJ Holdings, Inc. (OTCPK: MJNE) (the “Company”), a leader in the Nevada cannabis market, is continuing to provide product support to Las Vegas dispensaries. In the on-going fight to curtail the spread of Covid-19, Nevada Governor Steve Sisolak has ordered all Nevada medical and recreational marijuana dispensaries to cease retail sales within their stores, allowing only dispensaries with drive-thru windows to remain open; however, the Governor is allowing home delivery of marijuana by all Nevada dispensaries under a 60-day temporary license. According to BDS Analytics, a leading cannabis industry data provider, marijuana sales are up about 30% nationwide.
“While Nevada has implemented very strict social distancing rules that have affected our cultivation facility, we have sufficient inventory on hand to meet our customers’ current needs and we are increasing production of our LV Slugger pre-roll in order to provide the consumer with a ready to use product option,” Company CEO Paris Balaouras stated.
Our sales team has launched a consignment initiative allowing dispensaries to buy in smaller quantities and make payments upon sale of the products. We believe this will help insure that dispensaries have steady access to inventory without requiring a large bulk purchase.
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 acquiring revenue producing assets and licenses within legalized cannabis markets both nationally and internationally.
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.
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