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MJTV Joint Venture Partner Genesis Botanical Signs Contract For 40 Acres Of Hemp Biomass For Its CBD Extraction Facility As Well As Further Expansion

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  • CLNE

CHEYENNE, WY / ACCESSWIRE / February 1, 2021 / MJ Biotech, Inc. (OTC PINK:MJTV), is pleased to announce, its wholly-owned Subsidiary, New England Biotech's partner Genesis Botanical, signed its first contract with a Maine farmer to provide 40 acres of hemp biomass for extraction for the 2021 farming season.

Company executives met with the farmer and his team at their indoor facility to discuss and advise on the different varieties of hemp to be grown. The MJ Biotech's team and joint venture partners are making sure the highest profitability is reached. The goal of MJTV and the farmers is to maximize profitability through a pragmatic, experienced hands-on approach.

This is the first extraction contract secured. The Company is focused on securing the business necessary to be profitable within the first month or two of opening the first CBD Extraction Facility. More contracts will be secured shortly and the plans for a second facility will soon be in place.

The site of the first Facility, as announced, will be in Sagadahoc County in Mid-Coast Central Maine. The second facility, already under consideration, will expand operations along the East Coast of the United States.

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Safe Harbor Statement: Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. MJ Biotech Inc. does not make any representation or warranty, express or implied, as to the accuracy, completeness, or updated status of such statements. Therefore, in no case whatsoever will MJ Biotech. Inc. and its affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages.

SOURCE: MJ Biotech, Inc.

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