MJ Harvest, Inc. ("MJHI") (OTCQB:MJHI) announced today that Chief Executive Patrick Bilton has been invited as a dignitary to attend the grand opening of the Native Nations Cannabis Dispensary at the Flandreau Santee Sioux Tribe ("FSST") Reservation in Flandreau, South Dakota on July 1, 2021.
On November 3, 2020, eligible voters in South Dakota overwhelmingly approved medical cannabis in the state of South Dakota with over 70 percent of eligible voters in favor of Measure 26. South Dakota's Measure 26 legalized medical marijuana for adults with qualifying conditions. The proposed law defined qualifying conditions as a chronic or debilitating disease or medical condition or its treatment that produces one or more of the following: cachexia or wasting syndrome; severe, debilitating pain; severe nausea; seizures; or severe and persistent muscle spasms, including those characteristic of multiple sclerosis; or any other medical condition or its treatment added by the department. The tribe recently began accepting applications from medical marijuana patients who were referred by a physician.
Most of the state will not have medical cannabis until 2022. However, the Native Nations Cannabis Dispensary will be cutting the ribbon at its grand opening on July 1, 2021. Anyone with a referral from a licensed physician will be able to obtain a medical marijuana card at the dispensary beginning Thursday, July 1, 2021 to purchase medical marijuana. With no competition expected in the state until 2022, the demand for medical cannabis at the Native Nations Dispensary will be high when the doors open. South Dakota is now the 37th state to approve medical cannabis.
MJHI's affiliation with the tribe has been cultivated through PPK Investment Group Inc ("PPK"). PPK entered into a comprehensive joint venture cannabis agreement in May with FSST Pharms LLC which is wholly owned by FSST. MJHI currently owns 10% of PPK with options to acquire 100% of PPK at any time prior to March 31, 2023 provided any increase can then be accomplished in accordance with Oklahoma law.
According to state records in South Dakota, the tribe has plans for cannabis well beyond its 5000-acre reservation in Moody County which is about 45 minutes from Sioux Falls. Although the tribe has been low key on their plans to date, state records show FSST spent $5 million in March to acquire a 19,500-square-foot building at the intersection of 41st Street and Louise Avenue in Sioux Falls. For those native South Dakotans familiar with the Sioux Falls business landscape, 41st Street and Louis Avenue is known as one of the busiest business districts in all of Sioux Falls. This dispensary location offers a prime outlet for the Native Nations Brand and more importantly, the dispensary business model may become a model for other tribes that are seeking economic prosperity for their members.
In more good news, MJHI's investment company PPK, announced expansion of the Chronic product line into South Dakota. As previously announced on May 12th of this year, PPK signed a binding 2-year term sheet with International Brands Group (IBG) to produce, manufacture, sell and market a new Chronic Brand THC infused product line in the State of Oklahoma. PPK was granted exclusive rights to produce, manufacture and sell the new product line with first rights of refusal nationwide for an initial period of 2 years. PPK currently grows, extracts, manufactures, and distributes Country Cannabis branded products to over 1000 dispensaries in the Oklahoma Market. PPK is actively expanding its footprint in South Dakota.
About MJ Harvest Inc.
MJHI cultivates, harvests, manufactures and sells cannabis products through its growing relationship with PPK. PPK sells and markets cannabis flower and edibles throughout Oklahoma and is now expanding into South Dakota through its joint venture with FSST.
MJHI also acquires and markets products and technologies that are designed to benefit growers and processors in the horticultural and agricultural industries. MJHI launched www.procannagro.com to provide a professionally designed and maintained web-based marketing outlet for the company's brands and technologies.
This press release contains forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. Although the forward-looking statements in this release reflect the good faith judgment of management, 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. The Company assumes no obligation to update any forward-looking statement to reflect any event or circumstance that may arise after the date of this release.
MJ Harvest, Inc.
9205 West Russell Rd., Ste. 240
Las Vegas, NV 89148