UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
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5730 Sky Pointe Dr. Unit 102, Las Vegas, NV 89130
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of New Directors: On November 16, 2023, MJ Holdings Inc.’s board of directors appointed Benjawn (Nancy)Tran and Gioong Ho to the board of directors, effective November 16, 2023.
Resignations/Terminations of Board Members:
On November 16, 2023, John Gorst was terminated as CEO and as a Board Member. These decisions were not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices.
Additionally, on March 5, 2024, Tom Valenzuela submitted his resignation effective as of March 5, 2024. These decisions were not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices.
Details of New Directors:
| 1. | Benjawan Tran: Benjawan (Nancy) Tran holds a degree in accounting and acted as the company’s internal bookkeeper. She resides in Las Vegas. |
| 2. | Gioong Ho: Mr. Ho in an independent businessman with years of relevant experience in the cannabis space both in the Nevada market and elsewhere nationally. |
Item 8.01 Other Events:
Relationship with Mr. Kelly
The Company has engaged and retained Jim Kelly, former CFO, to assist the Company to liquidate assets as well as address possible corporate restructuring.
Asset Sale Agreement: On March 6, 2024, the board approved, and the Company finalized an agreement to sell the cannabis assets of the business and transfer the Promissory Note for the property known as “The Farm.” The Asset Purchase Agreement (the “Agreement”) was made effective as of February 6, 2024, between BLACK SHEEP 710 CONSULTING, INC. (the “Buyer”) and MJ Distributing C202 LLC and MJ Distributing P133 LLC (collectively the “Seller”), both wholly owned subsidiaries of MJ Holdings Inc.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MJ HOLDINGS, INC. | ||
| Date: March 21, 2024 | By: | /s/ Tim Luff |
| Tim Luff | ||
| Interim Chief Executive Officer | ||
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