MJ Holdings to Harvest First Nevada Outdoor Marijuana Crop – GlobeNewswire (press release)

Las Vegas, NV, Nov. 15, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — MJ Holdings, Inc. (OTCQB: MJNE) (the “Company”), a leader in the Nevada cannabis market, is pleased to announce that it will begin harvesting its three acre outdoor marijuana crop next week. The Company, which became public in December of 2017, has been working closely with top growers and the State of Nevada to establish the viability of outdoor cultivation. This initial test grow is expected to yield approximately 8,000 to 10,000 pounds of marijuana grown under its high-tech mesh canopies.
The three acre mesh canopy grow was completed this summer on one of the agricultural sites managed by the Company’s wholly owned subsidiary, Prescott Management, LLC. The Company projects that this harvest could generate over $10,000,000 in gross revenues on an initial investment of approximately $2,200,000. Our projections are based on our lead grower’s estimates that each plant could provide over a pound of marijuana and we have planted approximately 8,000 Marijuana plants. It is our intention to utilize most of this crop to sell as “trim” to produce THC/CBD oil. The highest quality flower from this harvest will be used for bud to be wholesaled to Nevada dispensaries. The current market value in Nevada for marijuana trim is about $1000 per pound for THC content over 20% and wholesale flower starts at around $1800 per pound. The THC/CBD oil derived through processing is the primary active ingredient for all marijuana based products such as edibles, concentrates and vaporizers. Las Vegas, as a leading tourist destination, is the fastest growing adult use marijuana market in the U.S.“We have worked hard to procure approvals for this first-of-its-kind agricultural opportunity in Nevada and we have also identified a grow plan and appropriate strains that have proved successful and demonstrated resilience to the type of

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