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.