MJ Holdings, Inc. Enters Agreement to Acquire Medical and Recreational Cultivation and Production Licenses
Posted on Thursday February 25, 2021

Company progresses from LOI to MIPA3 to acquire cultivation and production licenses and to begin cultivation on proprietary land Las Vegas, NV, Feb. 25, 2021 (GLOBE NEWSWIRE) -- MJ Holdings, Inc. (OTC Pink: MJNE) a diversified holding company, which through its subsidiaries, provides services to the regulated cannabis industry inclusive of cultivation and production management, infrastructure development and sales is pleased to inform shareholders that it has progressed from a Letter of Intent (LOI) to a Membership Interest Purchase Agreement (MIPA3) to purchase two cultivation licenses (medical and recreational) and two production licenses (medical and recreational) and transfer the appropriate licenses to proprietary land. The MIPA3 with MJ Distributing, Inc. and affiliates (not related to MJ Holdings, Inc) provides for a closing to occur as soon as all license transfer conditions are approved, and the applicable licenses are transferred to MJ Holdings’ property (260 acres in Armargosa, NV referred to as “The Farm”). A backstop has been included in the MIPA3 to allow MJ Holdings to manage a grow under the licenses until the transaction is completed. For purposes of expediting the transactions, Paris Balaouras, Founder and Chief Cultivation Officer of MJ Holdings, Inc., has been listed as a Managing Member of the selling entities. Mr. Balaouras noted, “In consideration of $1.250M and 200,000 shares of our common stock (Purchase Price), we will soon fully control our own destiny as we have applied to transfer the cultivation licenses to our proprietary land: The Farm. We have arranged an amicable separation under our existing management agreement with Curaleaf/Acres and are developing our cultivation facility on The Farm for our own use. With the enormous Las Vegas tourism industry soon to be on the rebound, we are well positioned to meet or exceed our fair share of demand. With the advantages of The Farm, including excellent soils, an organic grow and company owned water rights we are seeing an increase in interest from third parties who want to manage under our license. One example is our recent Management Agreement with MKC Development Group, LLC (MKC). They will lease and build out a 10-acre cultivation and management project at The Farm. We expect similar, well-funded groups to allow us to expand cultivation practices with diverse product and unique strains to meet expected customer demand.” Roger Bloss, Interim CEO added, “As we explained in our 10-K filing in December, we are committed to accomplishing our major initiatives as we work to improve operations and increase long term shareholder value. These initiatives included completing the license acquisitions and activating The Farm. Soon we can mark these initiatives as having been accomplished. Additionally, we are very excited to begin working with MKC on their management agreement at The Farm and we look forward to adding additional similar agreements that will expand our land utilization and growing capacity. Management agreements will diversify our revenue sources and, subject to negotiated terms, will provide for substantial long term monthly revenue streams without the need for extensive capital investment.” 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. The Company’s cultivation operations include management of a three-acre co-operative for in the Amargosa Valley of Nevada. The Company currently manages a State of Nevada issued cannabis production license and expects to provide manufacturing and production facilities and resources to third party manufacturers and cultivators as part of our production campus that is currently under development. The Company also provides management consulting services to state licensed dispensaries. 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: Roger Bloss, Interim Chief Executive Officer roger@mjholdingsinc.com (805) 796-6663

MJ Holdings, Inc. Announces the Execution of a Letter of Intent to Acquire Cultivation and Production Licenses
Posted on Thursday January 28, 2021

Company moving forward with owned licenses and cultivation on proprietary land Las Vegas, NV, Jan. 28, 2021 (GLOBE NEWSWIRE) -- MJ Holdings, Inc. (OTC Pink: MJNE) a diversified holding company, which through its subsidiaries, provides services to the regulated cannabis industry inclusive of cultivation and production management, infrastructure development and sales is pleased to inform shareholders that it has executed a Letter of Intent (LOI) to purchase two cultivation licenses (medical and recreational) and two production licenses (medical and recreational). The LOI with MJ Distributing, Inc. and affiliates (not related to MJ Holdings, Inc) provides for a closing to occur on or before April 30, 2021. This transaction replaces the previously announced license acquisition with the same seller that was sidetracked and didn’t close due to Company’s reallocation of resources at that time. For purposes of expediting the transactions, Paris Balaouras, Founder and Chief Cultivation Officer, has been listed as a Managing Member of the selling entities. Roger Bloss, Interim CEO of MJ Holdings noted that, “The acquisition of these licenses will allow us to fully activate our cultivation capacity on our 260 acres of land in Armargosa (The Farm) and will allow us to amicably exit our existing cultivation management agreement with Curaleaf. Additionally, the production licenses will allow us to extract our own cultivated material and take advantage of keeping this resource in-house. The acquisition of these licenses will be beneficial to our long-term growth and our ability to continue to control our processes and our costs.” Paris Balaouras added: “In addition to allowing us to engage a proprietary grow (our land, our water, our licenses), this will also allow us to pursue and engage in third party management agreements whereby the Company will partner with qualified companies to activate additional acreage at The Farm. This transition will diversify our revenue sources and, subject to negotiated terms, will provide for substantial long term monthly revenue streams without the need for extensive capital investment. 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. The Company’s cultivation operations include management of a three-acre co-operative for in the Amargosa Valley of Nevada. The Company currently manages a State of Nevada issued cannabis production license and expects to provide manufacturing and production facilities and resources to third party manufacturers and cultivators as part of our production campus that is currently under development. The Company also provides management consulting services to state licensed dispensaries. 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: Roger Bloss, Interim Chief executive Officer roger@mjholdingsinc.com (805) 796-6663

MJ Holdings, Inc. Announces Filing of Annual report for the Period Ended December 31, 2019
Posted on Tuesday December 15, 2020

Company Finalizing All Three Quarterly Reports for 2020 Las Vegas, NV, Dec. 15, 2020 (GLOBE NEWSWIRE) -- MJ Holdings, Inc. (OTC Pink: MJNE) a diversified holding company, which through its subsidiaries, provides services to the regulated cannabis industry inclusive of cultivation and production management, infrastructure development and sales is pleased to inform shareholders that it has filed its Annual Report for the period ended December 31, 2019.The Company’s Annual Report on Form 10-K is available at https://www.sec.gov/Archives/edgar/data/1456857/000149315220023268/form10-k.htm and on the Company’s website at https://mjholdingsinc.com/investor-relations/.The Company is finalizing its Quarterly Reports for the periods ended March 31, 2020, June 30, 2020 and September 30, 2020 to be reviewed and filed with the Securities and Exchange Commission (“SEC”) in the near term.“The filing of the Company’s Annual Report is the first step in getting the Company back into compliance with the SEC’s reporting requirements,” stated Roger Bloss, Interim Chief Executive Officer. “Our new executive team, while mindful of all aspects of corporate responsibility, highlighted shareholder value over the past several months by focusing on the task of bringing our reporting up to date.”“We’re delighted to have our 2019 10-K filed and we’re now turning our attention to our Quarterly Reports through Q3,” stated Jim Kelly, Interim Chief Financial Officer. “We look forward to our stock being more actively traded as we maintain compliance and work on closing out a very successful 2020 from a cultivation, sales and operations perspective.”The company also wishes to remind all shareholders and persons of interest that MJ Holdings, Inc. will be making announcements and updates via social media. Updates can be found on our following social media channels:Facebook: https://www.facebook.com/mj.holdings/ Twitter: https://twitter.com/mj_holdings Instagram: https://www.instagram.com/mjholdingsinc/ LinkedIn: https://www.linkedin.com/company/mj-holdings-incAbout 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. The Company’s cultivation operations include management of a three-acre co-operative for in the Amargosa Valley of Nevada. The Company currently manages a State of Nevada issued cannabis production license and expects to provide manufacturing and production facilities and resources to third party manufacturers and cultivators as part of our production campus that is currently under development. The Company also provides management consulting services to state licensed dispensaries.Safe HarborThe 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: Roger Bloss, Interim Chief Executive Officer roger@mjholdingsinc.com (805) 796-6663

MJ Holdings, Inc. is Pleased to Announce the Addition of Jim Kelly as Interim Chief Financial Officer
Posted on Thursday October 15, 2020

Las Vegas, NV, Oct. 15, 2020 (GLOBE NEWSWIRE) -- MJ Holdings, Inc. (OTC Pink: MJNE) a diversified holding company, which through its subsidiaries, provides services to the regulated cannabis industry inclusive of cultivation and production management, infrastructure development and sales is pleased to update shareholders on the addition of Jim Kelly as its Interim Chief Financial Officer (“CFO”). On October 1, 2020, the Company made an addition to its management team by retaining Jim Kelly as Interim CFO. The Company kindly advises shareholders to review its Current Report on Form 8-K filed with the Securities and Exchange Commission on October 8, 2020 for the full terms of Mr. Kelly’s Employment Agreement.Jim KellyFrom 2000 to the present, Mr. Kelly has served as the Founder and Managing Member of Sunstate Futures, LLC, a National Futures Association registered firm. In addition, Mr. Kelly currently serves as the President and Director of Capfin, a Cayman Islands monetary authority registered Foreign Investment Firm. From 1998 through 2007, Mr. Kelly served as the President of Sunstate Equity Trading, a National Association of Securities Dealers broker dealer. From 1984 through 2009, Mr. Kelly held several securities licenses inclusive of: Series 7, 24, 27 and 63. Mr. Kelly serves as a board level consultant to several public companies as well as securities clearing firms. “As we navigate the critically important aspects of engaging in a C-Suite ‘reset’, we are privileged to have a professional of Jim’s stature to help guide us through the processes with regard to our financial controls and reporting,” stated Roger Bloss, Interim CEO. “Along with the other recent additions to our management team and board of directors, the addition of Mr. Kelly will allow Paris Balaouras, Founder & Chief Cultivation Officer, to continue to better focus the Company’s resources on its core Las Vegas business.”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. The Company’s cultivation operations include management of a three-acre co-operative for in the Amargosa Valley of Nevada. The Company currently manages a State of Nevada issued cannabis production license and expects to provide manufacturing and production facilities and resources to third party manufacturers and cultivators as part of our production campus that is currently under development. The Company also provides management consulting services to state licensed dispensaries.Safe HarborThe 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: Roger Bloss- Interim Chief Executive Officer roger@mjholdingsinc.com (805) 796-6663