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, in furtherance of its goal to be the largest Cannabis cultivation facility in Nevada, it has entered into a cultivation management agreement to develop 10 acres with Green Grow Investments Corporation.
This marks the third management agreement for MJNE. Green Grow Investments Corporation expects to build an estimated 260,000 sq ft of greenhouses. The first phase is to be completed in the fall of 2021 and is targeted to include cultivation of 100,000 sq ft of premium flower.
Paris Balaouras, Founder and Chief Cultivation Officer at the Company stated: “I’m excited to work with Green Grow Investments Corporation to help them achieve their goal of producing over 30,000 lbs per year for the Nevada market. As a grower, I get to work with some of the best growers in the world in a collaborative campus environment where we all learn and grow together. We are collecting more than 100 different strains of the most interesting cultivars to have seasonal sales contests that will ‘WoW’ the consumer.”
Roger Bloss, CEO commented that “Our model for the 260 acre Farm at Amargosa Valley, in addition to our own cultivation program, is to provide our licensing and land to amazing brands and companies like Green Grow Investments Corporation so that they can fund and build state-of-the-art infrastructure to enable them to manage, grow and provide the best cannabis. I will be updating shareholders with an executive report this month announcing our goals and specifically highlighting our financial expectations from all these management agreements we have entered, so far. An estimated eight to ten management agreements between both cultivation and production is expected produce a revenue stream that will allow the Company to grow and expand more quickly than the competition.”
As a highlight, the last two land management agreements have their greenhouses/pods already shipped. MKC Development Group expects to be under construction by early summer of 2021 with their build of 200,000 sq ft of greenhouses. This may yield 20,000 lbs of flower by 2022. Also, Natural Green LLC is expected to build 5 acres of growing pods on 8 acres of land, which should be online in 2022 with anticipated yields of 25,000 lbs of cannabis flower.
