MJ Holdings Set to Move Forward With Plans to Lock in 1 Million Square Feet of Indoor Cultivation and Processing Space
November 02, 2021 at 08:40 pm IST
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MJ Holdings, Inc. on pace to become one of the largest indoor, outdoor and hybrid cannabis cultivation facilities in the United States. As a result of the latest meeting on October 28, 2021, with the Town of Amargosa Valley, NV officials, MJ Holdings (via its Farm ownership subsidiary and cannabis license subsidiary) has had its 5-year plan approved to develop The Farm, including a comprehensive network of specialized pods for cannabis cultivation. The 100 acres covered by this approval is expected to result in one million square feet of indoor cultivation and processing space perfectly aligned with the Company?s burgeoning management agreements. On October 29, the Company met with the Nye County, NV planning department and the County concurred with the overall infrastructure and construction concepts contemplated under the Company?s management agreements. Each agreement anticipates growing one cannabis plant per three square feet of cultivation space. The agreements are also estimated to produce three harvests per year, with an average of three ounces of sellable product per plant. MKC Development Group, LLC entered an agreement with the Company to develop an indoor 200,000 sq ft greenhouse.
RK Grow, LLC is anticipated to develop 40-acres of indoor cultivation. The project is estimated to cost approximately $75 million to complete and will include up to 800 indoor grow pods, double stacked with 2 cultivation levels totaling approximately 500,000 square feet of indoor cultivation. Natural Green, LLC will construct an operations building and an 8-acre indoor cultivation site, utilizing indoor grow pods. Green Grow, LLC anticipates 40 acres for indoor cultivation. Green Grow plans to construct 10 warehouses and 10 greenhouses. While all of the build-outs discussed above are subject to individual County approvals, MJ Holdings is excited about the current government approvals of the overall development at The Farm. The overall site will be equipped with special features to meet or exceed safety and security concerns in and around the facility.
MJ Holdings, Inc. is a diversified cannabis holding company. The Company is engaged in providing cultivation management, asset and infrastructure development in the Las Vegas market. It is focused on providing a 360-degree spectrum of infrastructure, including cannabis cultivation, production of cannabis related products, management services, dispensaries, and consulting services. The Companyâs subsidiaries include Prescott Management, LLC, which provides day-to-day management and operational oversight to the Companyâs operating subsidiaries; Icon Management, LLC, which provides human resource management (HR) services to the Company and is responsible for all payroll activities and administration of employee benefit plans and programs; Farm Road, LLC, which owns approximately 260 acres of farmland in Amargosa Valley, Nevada; Condo Highrise Management, LLC, which manages the Company owned Trailer Park in Amargosa, Nevada; and Red Earth Holdings, LLC.
MJ HOLDINGS, INC. 
