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MJ Holdings, Inc. (MJNE) has transitioned from a Letter of Intent (LOI) to a Membership Interest Purchase Agreement (MIPA3) to acquire two cultivation and two production licenses in Nevada. The total transaction value is $1.25 million and includes 200,000 shares of common stock. The licenses will be transferred to the company’s proprietary land, 'The Farm'. This strategic acquisition is expected to enhance MJ Holdings' operational capabilities and revenue potential, particularly with the Las Vegas tourism market set to rebound.
MJ Holdings, Inc. (OTC Pink: MJNE) has appointed Jim Kelly as its Interim Chief Financial Officer effective October 1, 2020. Kelly has extensive experience in the financial sector, having founded Sunstate Futures, LLC, and served as President of Sunstate Equity Trading. The management change aims to strengthen financial controls during a crucial C-Suite transition.