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Sales Surge as Nevada Cannabis Industry is Deemed Essential

Written by Customer Service on . Posted in Public Companies.

Las Vegas, NV, March 19, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — MJ Holdings, Inc. (OTCPK: MJNE) (the “Company”), a leader in the Nevada cannabis market, is making every effort and taking all precautions to ensure that our employees and customers remain safe during the current Covid-19 pandemic. Although we already operate in a sterile controlled environment, we have instituted additional sanitation protocols and updated our product handling procedures at our cultivation facility in the Amargosa Valley of Nevada.
With the recent long lines at the majority of Las Vegas cannabis dispensaries we have taken steps to reserve sufficient marijuana product to safely and adequately supply our dispensary customers so that they may continue to provide for their medical marijuana patients. “While Las Vegas is very dependent on tourism, the cannabis industry in the State must continue to be able to serve the needs of the local community,” Company CEO Paris Balaouras stated. The Company’s sales have picked up dramatically over the past few weeks as it seems that local dispensaries wanted to have additional inventory on hand in case of any potential shutdown. The Company’s President, Terrence Tierney, stated, “We fully expect to close-out the first quarter with strong sales and we anticipate a significant increase in year-over-year quarterly revenues.” The present increase in demand has required us to adjust our cultivation schedule and we have decided to grow as many as 10,000 marijuana plants beginning in early April. This will be followed by our full three-acre grow in June. We are planning on increasing our 2020 grow by at least 30%.Lastly, we ask everyone to take the necessary steps to remain safe during this worldwide epidemic and wish all who have been infected with this disease a speedy recovery. We are thankful to our shareholders who continue to support us. We hope that we will remain operational throughout this crisis for the benefit of our employees and so that our products can continue to provide relief and a sense of calm to both medical and recreational cannabis users.  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.Safe HarborCompany Contact:Terrence Tierney Presidentterry@mjholdingsinc.com

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