Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On October 26, 2022, the Company's Board of Directors appointed two new
directors, Tom Valensuela and Timothy Luff, effective as of October 26, 2022.
From 2019 to present, Mr. Valensuela has acted as Director of Construction at MJ
Holdings. In addition, he has acted as director of operations for both MJ
Holdings' 260-acre outdoor farm and their indoor cultivations. Mr. Valensuela is
focused on managing all cannabis development projects, as well as all operations
within MJ Holdings current cultivations in Nevada. From 2016 to 2019, Mr.
Valensuela worked with Masterbuilt Construction, located in Las Vegas, as a
project manager. Mr. Valensuela was directly responsible for managing several
large real estate developments to completion. From 2014 to 2016, Mr. Valensuela
acted as cultivation manager, of Thompson Farm 1, managing all cannabis
cultivations and operations. Mr. Valensuela has been involved with the cannabis
industry since legalization acting as a manager, or director. Mr. Valensuela has
an AA degree in Graphic Design from Glendale Community College. He also attended
University of Colorado in 1990 and University of Northern Colorado.
From 2017 to 2019, Mr. Luff worked for Focus Distribution in Las Vegas, where he
was responsible for delivery, sales and ultimately held the title of Vice
President responsible for client relationship management. Mr. Luff attended Oral
Roberts University school of business in Tulsa.
Compensation Committee
On October 27, 2022, the Company changed the composition of its Compensation
Committee to include Messrs. Valensuela, Luff, Balaouras and Radcliffe. Mr.
Balaouras will serve as the committee's Chairman.
2
© Edgar Online, source Glimpses