MJ Holdings Harvests First Autoflower Crop
Las Vegas, NV, Sept. 12, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- MJ Holdings, Inc. (OTC Pink: MJNE) (the “Company”, “we”), a leader in the Nevada cannabis market, is pleased to announce that, on Friday September 6th, we harvested our first autoflower test grow. We planted a small number of autoflowering seeds as part of our second three-acre hybrid mesh-canopy marijuana crop to test the ability of autoflowering plants to thrive in the harsh desert conditions in the Amargosa Valley.
Autoflowering cannabis varieties automatically switch from the vegetative growth stage to the flowering stage within a predictive time frame, as opposed to the ratio of light to dark hours required with photo-period dependent/short-day strains. Many autoflower plants typically harvest in less then 10 weeks from planting.
Noted Company CEO Paris Balaouras: “With the ongoing pursuit of maximizing our three-acre facility, we planted autoflowering strains mainly for test purposes. The autoflowering strains grow much faster - in as little as two months from seed to harvest. In addition, their compact size makes them much more manageable. Because these strains grow so quickly, we can anticipate multiple plantings each year, which should increase our overall production capabilities.”
In June and July, the Company 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.
Mr. Balaouras added: “We are happy with the initial results from the harvested plants. We replanted the autoflowers yesterday for an additional 2019 harvest.”
The THC/CBD oil derived through processing harvested marijuana is the primary active ingredient for all marijuana based products, including: edibles, concentrates and vapes. Las Vegas, as a leading tourist destination, is one of the fastest growing adult-use marijuana markets in the U.S.
About MJ Holdings Inc.
The Company is a highly-diversified, publicly-traded, cannabis holding company providing cultivation and production management; licensing support and consulting services, and asset and infrastructure development. It is our intention to grow our business and provide a 360-degree spectrum of products and services through the acquisition of existing companies; joint ventures with companies possessing synergistic expertise, and through the development of new opportunities. The Company has raised almost $14,000,000 from the sale of its common stock during the past eighteen months – enabling us to significantly increase our asset base.
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 . The parties do not undertake any obligation to update forward-looking statements contained in this press release.
Company Contact:
Paris Balaouras, CEO
