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MJ Holdings Names New CFO

Las Vegas, NV, June 13, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- The Board of Directors of MJ Holdings, Inc. (OTC: MJNE) (“MJNE” or “Company”), a leader in the Nevada cannabis market, has appointed Laurence Ruhe as its new Chief Financial Officer.  Mr. Ruhe joins MJ Holdings with over 30 years of finance experience, most recently as the CFO of Freedom Leaf, a publicly traded Nevada corporation, where he provided accounting oversight, preparation of all financial statements and their related SEC filings.  Mr. Ruhe will have primary responsibility over all accounting functions and regulatory reporting on behalf of the Company, including the timely filing of all quarterly and annual reports with the SEC.  Mr. Ruhe previously held senior finance positions at BMM International, Progressive Gaming and Konami Gaming. Mr. Ruhe has also worked in international banking, including positions at Wells Fargo, Deutsche Bank and Banca CRT. Mr. Ruhe is replacing Rocky Wheeler who resigned from the Company at the end of May citing personal reasons.

Noted MJ CEO Paris Balaouras: “We are thrilled to have gained an executive with such depth and breadth of experience in finance and administration. We anticipate that Larry’s presence, as well as other recent administrative hirings, will better position the Company to achieve the proper balance between our operating success and our administration and financial reporting responsibilities.”

“Laurence has significant experience building and managing accounting and finance teams for high-growth, entrepreneurial driven public companies,” added Company Secretary and Chief Administrative Officer Terrence Tierney. “His initial focus will be on working with our auditors to complete our required reports, enhancing our day-to-day accounting systems and implementing strict financial controls and reporting, as well as providing senior management with necessary analytics.” 

About MJ Holdings, Inc.
MJ Holdings Inc. (OTCQB: MJNE) is a diversified publicly traded holding company providing management and consulting services to the regulated cannabis industry. Through our subsidiaries, we provide cultivation and production management services and infrastructure development. Our management operations include a three-acre, outdoor marijuana cultivation facility in the Amargosa Valley of Nevada, as well as a fully-licensed, indoor agritourism facility located in the city of Las Vegas known as the Highland Show-Grow. We are also active in identifying and acquiring revenue producing assets and licenses within legalized cannabis markets both nationally and internationally.

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 www.sec.gov. The parties do not undertake any obligation to update forward-looking statements contained in this press release.

Company Contact:
Terrence Tierney 
terry@mjholdingsinc.com

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