Signed agreements also include purchases of equipment and licenses associated with Cathedral City operations
LAS VEGAS, NV / ACCESS CABLE / July 22, 2022 / MJ Harvest, Inc. (“MJHI”) (OTCQB:MJHI) announced today that it has entered into a five-year lease to occupy a manufacturing and distribution facility located in Cathedral City, California. The five-year lease also includes an option from MJHI to purchase the building at any time during the lease term. Management believes that the building’s Coachella Valley location in Riverside County, California is strategically located to service Southern California’s significant market for cannabis products.
Simultaneously with the signed lease agreement, the company also closed the purchase of manufacturing equipment and the cannabis manufacturing and distribution licenses associated with Cathedral City operations. We are in the process of obtaining approval from the California Department of Cannabis Control for the transfer of the licenses. As a result of this series of agreements, MJHI intends to manufacture, market and sell Country Cannabis, Weedsy, BLVK, Chronic and other brands in the California market by using this facility as the primary hub for California operations. .
The lease signed with the option of to buy the building solidifies one of the main objectives of the management of MJHI. As previously reported, the company is executing on its plan to build shareholder value by capitalizing on its strong business foundation and Country Cannabis brand recognition in Oklahoma by expanding operations through brand acquisition and aggregation. MJHI is focused on building a fully vertically integrated cannabis operation in the United States with the ability to control seeds for sale. Today’s announcement creates a significant portion of the footprint to meet that ambitious goal.
The Company also recently announced that it has acquired a facility in Denver, Colorado, where it currently conducts mining and manufacturing operations. This acquisition also included two cannabis licenses that are being transferred to the company. The Company also owns 25% of PPK Investment Group, Inc. (“PPK”), an Oklahoma corporation and owner of the Country Cannabis brand, 10% of Blip Holdings, LLC, a California limited liability company and owner of the BLVK brand, and 10% of WDSY, LLC (“WDSY”), a California limited liability company and owner of the Weedsy brand.
Patrick Bilton, President and CEO of MJ Harvest Inc. commented, “We are delighted to be able to announce this new foothold in the California market. This lease in Cathedral City, along with the licenses and equipment, gives us the potential to rapidly expand into California with our growing portfolio of well-known brands.”
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About MJ Harvest Inc.
MJHI grows, harvests, manufactures and sells cannabis products through its portfolio of acquisitions and its growing relationship with PPK. PPK sells and markets cannabis flowers and edibles throughout Oklahoma and through a joint venture relationship with the Flandreau Santee Sioux Tribe in Flandreau, South Dakota.
MJHI also purchases and markets products and technologies that are designed to benefit growers and processors in the agricultural and horticultural industries. MJHI released www.procannagro.com to provide a professionally designed and maintained web-based marketing outlet for the company’s brands and technologies.
East Press release contains forward-looking statements and information. Although forward-looking statements in this release reflect management’s good faith judgment, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements. . Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. There is no guarantee, nor can it be given, that we will be able to obtain approval for the transfer of the licenses, or that the expanded operations will be successful. The Company undertakes no obligation to update any forward-looking statement to reflect any event or circumstance that may arise after the date of this release.
FONT: MJ Harvest, Inc.