MJ Holdings Inc (OTCMKTS:MJNE) Raises More Than $5 Million In Share Buy Back of 20 Million Common Shares

MJ Holdings Inc (OTCMKTS:MJNE) announced recently that it managed to raise $5,565,000 USD as part of a private share buyback that took place towards the end of March, through which it repurchased 20 Million common shares.

The company initially issued the 20 million shares in December 2017 at around the time of its Red Earth LLC reverse merger. Red Earth has a marijuana cultivation license issued in Las Vegas. MJ Holdings CAO Terrence Tierney recently revealed that the company repurchased the shares from one of its largest shareholders. He also revealed that the shareholder agreed to sell back the shares at their initial cost. This allowed the firm to resell the shares without causing any dilution to other shareholders.

“In fact, the transaction is anti-dilutive as we have increased our cash on hand while reducing the number of issued and outstanding shares of our common stock,” stated Tierney.

MJ Holdings also expects to receive more funding as part of commitment from more shareholders and it plans to close the financing round on April 26. Some of the revenue will be used to build a three-acre facility located in Amargosa Valley. This will effectively boost the firm’s hybrid-mesh cultivation system to around 240,000 sq. ft, therefore doubling it.

MJ Holdings acquires 50-acre facility in Nye County, Nevada

MJ Holdings is determined to expand its operations in Nye County, Nevada and it recently enforced that plan by acquiring a 50-acre facility located in Amargosa valley that it plans to use as its genetics lab for hemp seeds. The company also plans to grow hemp on five acres which will be used for genetic studies. The studies are in line with the demand for more resilient hemp plants that are also of high quality.

The facility also comes with housing for the company employees that will be based there. MJ Holdings has been rapidly expanding its operations in Nevada in line with the fast-paced cannabis and hemp industry. The company is determined to develop strong hemp strains that will survive harsh climatic conditions such as deserts. Nevada is, therefore, one of the ideal places and it also represents more potential for hemp farmers in the state.’


MJ Holdings Inc (OTCMKTS:MJNE) Unveils Highland Brothers Brand of Cannabis Products and CBD Delivery System

MJ Holdings Inc (OTCMKTS:MJNE) has announced plans to unveil Highland Brothers Cannabis Brand and delivery system for CBD on November 4, 2018. The company will use Q-Cup, the patented and quartz-based CBD and cannabis delivery system, to sell Highland Brothers Cannabis Brand.

The user can make use of pre-filled cannabis dispensing unit – ‘Q-Cup’ for enjoying the cannabis. It offers a great value to the customers while enhancing the experience for the user.

MJ Holdings has entered into an exclusive distribution accord with Healthier Choices Management Corp (OTCMKTS:HCMC), a patent holder and designer of Q-Cup, for the entire Nevada State in August 2018. The company will use the network of dispensaries of Focus Distribution to market the quartz based delivery technology for cannabis. Focus is engaged in the distribution of products to Nevada based dispensaries.

Chief Executive Officer of MJ Holdings, Paris Balaouras said the launch of Highland Brothers cannabis brand using a Q-Cup delivery system will help the company to maintain a leadership position among peers. Each pre-filled Q-Cup is expected to deliver 8 to 10 doses of cannabis. The Q-Cup is expected to fetch a price of up to $10.

MJ Holdings Inc Receives Approval For Trading on OTCQB

MJ Holdings Inc has announced the receipt of approval for trading its common stock on OTCQB market venture. Chief Administrative Officer of MJ Holdings, Terrence Tierney said the uplisting on OTCQB increases exposure to high net-worth individuals and institutional investors.

MJ Holdings Inc To Feature in Utah Cannabis Conference

MJ Holdings Inc will find a place in the first ever cannabis conference in Utah. The CEO of MJ Holdings and other key executives will talk at this cannabis conference in Utah state. CEO has expressed happiness about the progress made by its neighbors in the east in making available the medical marijuana to those, who will benefit from its use. He further said MJ holdings will capitalize on the business opportunities in Utah. The medical use of cannabis in Utah is expected to legalized soon.

Brief Information about MJ Holdings Inc

Nevada based diversified holding company, MJ Holdings Inc is engaged in providing consulting and management services for the cannabis industry.


MJ Holdings Inc (OTCMKTS:MJNE) Enters Consumer Space

The cannabis market is expanding rapidly and with it, creating a lot demand from both users of medical and recreational cannabis. In response to the dynamic, MJ Holdings Inc (OTCMKTS:MJNE) has decided to diversify its business strategy in a move that is aimed at taking advantage of the potential of the consumer space in the cannabis industry. The Florida-based company has initially been solely involved in acquiring real estate for licensed marijuana operators.

In a February 25th press release, the firm announced the launch of Kingston® MJuice®, which offers flavor profiles intended to enhance the taste experience of medical marijuana. The product enabled the company to make a beachhead for its entry into the consumer space.

In another press release two years later, the company announced that it had entered into a “definitive agreement to acquire Red Earth LLC” in a bid to create a foothold in the Las Vegas cannabis market. According to the release, Red Earth holds a provisional license to grow cannabis in Las Vegas, Nevada.


Per the release, Paris Balaouras assumed the role of the Chief Executive Officers of the newly constituted company. The statement notes that the new CEO brings a lot of expertise that will be crucial in driving the strategy of MJ Holdings. He was the Manager of Red Earth and a seasoned entrepreneur.

The company was keen to join the Las Vegas market after the region legalized the production and sale of the “leaf”. The release notes that Las Vegas is a very prominent destination for agritourists, with over 52 million visitors annually. For this reason, the region has potential to grow the business to levels that will make the company a dominant brand in the market.

Business extensions

The company understands that the present business environment is very competitive and that for the business to thrive, a company must find ways to diversify. With the introduction of the consumer products, the company seeks to tap into the revenue potentials of the market. On the other hand, the acquisition of red Earth provides an excellent opportunity for the company to be able to maintain a steady supply of quality products.

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