Las Vegas, NV, Aug. 20, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — MJ Holdings, Inc. (OTC Pink: MJNE) (the “Company”), a leader in the Nevada cannabis market, is pleased to announce that we recently completed the planting of our second marijuana crop on our three-acre, hybrid mesh-canopy grow facility in the Amargosa Valley of Nevada. Our 2018 test grow on this property yielded approximately 5,400 pounds of marijuana bud and trim. We expect to surpass these yields with our 2019 harvest.
In June and July, we planted more than 5,000 plants, utilizing eight different strains of marijuana, planting only the best performers from our 2018 crop. Our ability to get our plants into our grow facility a full month earlier than last year should facilitate higher yields and greater THC concentrations. The Company anticipates beginning our harvest in mid-October with a planned completion of the entire harvest by late November.
Company CEO Paris Balaouras commented: “Our 2018 test crop was an excellent experience for our cultivation team; we learned how to more efficiently use our three-acre grow for this year and how we can better utilize the harvested flower and trim. The strains that performed well in last year’s harvest were utilized again and we made some other adjustments, but we continue to search for better and stronger genetics that can be optimized for our style of sun grown cultivation.”
Added Balaouras: “We will use the remaining inventory from our prior harvest to produce THC/CBD oil in our soon-to-be operating processing facility and for our popular LV Sluggers pre-rolls. The current wholesale market value in Nevada is about $600 per pound for high THC content marijuana trim and around $2,000 per pound for premium flower.”
The THC/CBD oil derived through processing is the primary active ingredient for all marijuana-based products,