When completing their reverse merger last December, Paris Balaouras and his team knew that they had a lot of hard work and challenges ahead of them. According to Balaouras, “Our initial annual audit proved to be one of those challenges. As a U.S. public company in the cannabis industry, our audit firm conducted a thorough […]
When completing their reverse merger last December, Paris Balaouras and his team knew that they had a lot of hard work and challenges ahead of them. According to Balaouras, “Our initial annual audit proved to be one of those challenges. As a U.S. public company in the cannabis industry, our audit firm conducted a thorough analysis of our company to insure that completely accurate and transparent information would be made available to our shareholders and the general public.”
In April of this year MJ Holdings entered into an agreement with a licensed operator to manage a three-acre plot at their cultivation facility in Amargosa Valley, Nevada and they petitioned the state of Nevada to let them conduct a “test” grow of marijuana utilizing a state-of-the-art high tech mesh system. They began erecting the facility in March 2018 and received approval from the state in August to move more than 8,000 marijuana plants onto the site. The mesh system, first developed in Israel to improve desert farming conditions, filters out harmful UV light, reduces heat and increases humidity, while protecting the plants from insects and pests. The team was able to achieve results that rival indoor and greenhouse growing conditions but with considerably higher yields and lower costs per plant. They began harvesting the crop on November 30th and completed it in mid-December with an expectation to cure approximately 3,500 pounds of high quality, high THC flower and dry more than 4,000 pounds of plant “trim” to be extracted into THC/CBD distillate. Growing product with this mesh system gives MJ Holdings a significant, competitive advantage as they are able to cultivate marijuana for considerably less (50% – 75%) than in a greenhouse or indoor facility. This test grow has established MJ Holdings as a preeminent cultivator of high quality marijuana. Currently, they are in contract to purchase additional acreage for their 2019 grow and they intend to scale up by more than 3 times. This unique style of growing, led by MJ Holdings incredible grow team, Mike Kelley and Doug Warren, will be a model that they will implement in future cultivation projects with their partners in other states and internationally.
In November, MJ Holdings launched Highland Brothers, their new brand of marijuana products. According to Balaouras, “Highland Brothers embodies what we stand for: honor, vision and drive, while being a truly iconic Las Vegas brand.” Launching with their newly patented Q-cup quartz vaping system, Highland Brothers will feature pre-rolls, edibles and other marijuana concentrate products for distribution throughout the Nevada market.
Balaouras also stated, “In 2019 we will commence our industrial hemp operations to take advantage of the continually growing demand for CBD isolate in the U.S. CBD is found in numerous dietary supplements, beverages, pet products, cosmetics and the list is growing almost daily. The anti-inflammatory aspects of CBD and the other health benefits are currently being investigated by numerous researchers and drug companies and we feel the future for hemp and CBD is limitless.” The MJ Holdings grow team will plant 100 acres of hemp that should yield about 10,000 kilos of CBD isolate. Their belief in the future cultivation of hemp for the production of high quality CBD distillate and isolate is so strong that they are securing rights to cultivate up to an additional 2,000 acres in 2020.
Looking forward to 2019, Balaouras and the MJ Holdings team is preparing to expand both domestically and internationally. MJ International Research Company, Ltd., a wholly owned subsidiary of MJ Holdings, Inc., will be headquartered in Dublin, Ireland. They will launch their entry into the European marketplace, initially cultivating 10 acres of medical marijuana, utilizing their proven mesh system for distribution in Greece and export to Germany, Poland and other European countries as the use of medical marijuana becomes legal. They have also formed a strategic partnership with an Oklahoma cultivation and dispensary license holder to operate their grow and dispensary facilities. Additionally, MJ Holdings has formed Alternative Hospitality, Inc., to operate a chain of cannabis lifestyle hotel properties. This project is being done in partnership with a renowned U.S. hotel operator and they are excited about the future of this opportunity.
Balaouras commented, “I feel that our future is bright and that changing attitudes toward cannabis use at both the local and federal levels will insure our long-term success.”
For wholesale purchases, please contact the Highland Brothers sales support team at (702) 966-3128.
Photos By: NuSkool Photography