LAS VEGAS, NV, Sept. 25, 2018 (GLOBE NEWSWIRE) -- MJ Holdings Inc. (OTC: MJNE) (“MJNE” or “Company”), a fast-growing Nevada
cannabis company has submitted, through its subsidiary Red Earth, LLC, five Recreational Marijuana Establishment License
applications to operate up to five retail marijuana stores within the state of Nevada. The Company seeks to open a store within the
city of Las Vegas, as well as additional dispensaries in Washoe County near Lake Tahoe, North Las Vegas, unincorporated Clark
County and Henderson, NV.
“Many of the areas where we seek to open our stores have been previously underserved in the growing recreational adult use
marijuana market, we look forward to creating jobs and supporting these communities” Paris Balaouras, the Company’s CEO said. The
Company has received broad support from many community leaders and local elected officials for these licenses.
According to available state data, Nevada dispensaries sold nearly $425 million worth of recreational marijuana in the state’s
first full year of sales. The applications will be reviewed and scored by the Marijuana Enforcement Division of the Nevada
Department of Taxation and qualifying businesses are expected to be notified by December 5th of this year.
About MJ Holdings, Inc.
MJ Holdings Inc. (OTC:MJNE) is a diversified holding company providing management and consulting services to the regulated
cannabis industry. Through our subsidiaries we provide cultivation and production management services and infrastructure
development. Our cultivation operations include Nevada cultivation facility, as well as a fully licensed indoor agritourism
facility located in the city of Las Vegas known as the Highland Show-Grow. We are also active in identifying and acquiring
revenue producing assets and licenses within legalized cannabis markets internationally.
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: Andrew Boutsikakis President info@mjholdingsinc.com
