MJ Holdings, Inc. announced that on August 7, 2020, the company’s Board of Directors terminated, with cause, the employment of Terrence M. Tierney, JD, effective immediately. At the time of termination, Mr. Tierney served as the Company’s Secretary, Chief Administrative Officer and interim President. Under the terms of Mr. Tierney’s Employment Agreement (the “Agreement”), the Company shall be under no further obligation to the Executive, except to pay all accrued but unpaid base salary and accrued vacation to the date of termination thereof. The company’s Chief Executive Officer, Paris Balaouras, will serve in the roles vacated by Mr. Tierney.
MJ Holdings, Inc. is a diversified cannabis holding company. The Company is engaged in providing cultivation management, asset and infrastructure development in the Las Vegas market. It is focused on providing a 360-degree spectrum of infrastructure, including cannabis cultivation, production of cannabis related products, management services, dispensaries, and consulting services. The Companyâs subsidiaries include Prescott Management, LLC, which provides day-to-day management and operational oversight to the Companyâs operating subsidiaries; Icon Management, LLC, which provides human resource management (HR) services to the Company and is responsible for all payroll activities and administration of employee benefit plans and programs; Farm Road, LLC, which owns approximately 260 acres of farmland in Amargosa Valley, Nevada; Condo Highrise Management, LLC, which manages the Company owned Trailer Park in Amargosa, Nevada; and Red Earth Holdings, LLC.
MJ HOLDINGS, INC. 
