TIANJIN,
China, Aug. 23, 2022 /PRNewswire/ -- MDJM LTD
(Nasdaq: MDJH) (the "Company" or "MDJM"), an integrated real estate
services company in China, today
announced that its wholly owned subsidiary in United Kingdom, MD Local Global Limited ("MD
UK"), entered into an Offer to Sell (the "Agreement") with
Braveheart Hotels Limited ("Braveheart"), a United Kingdom company, pursuant to which MD
UK agreed to purchase Fernie Castle Hotel from Braveheart. The
Company believes that the purchase of this hotel, with its
historical and cultural value, will be an important initiative for
the Company's business transformation and expansion to specialty
hotels, tourism and cultural markets in Europe.
Fernie Castle Hotel, located in the heart of Fife, Scotland, is situated in 17 acres of
woodlands with its own lochan. Fernie
Castle has hundreds of years of history and was passed to
the Fernies in the 15th century. The castle consists of
an altered 16th century L-plan tower house and has been
renovated and expanded multiple times to cater to the expectation
of today's visitors while preserving characteristics of the past.
The Company intends to position the castle as the headquarters for
its business in iconic assets and plans to maximize the castle's
unique historical and cultural value through branding and other
strategic initiatives.
"We are exceptionally pleased to announce the acquisition of
Fernie Castle Hotel, which is a milestone of our strategic
implementation of business transformation and international
expansion. We believe physical assets play an important role in
preserving value against inflation and that, by the time we make
considerable progress in the strategic layout of our new business
in the European market, our international expansion may become a
key growth point. We expect to have stronger execution for our
upgraded strategic business plan, discovering and operating more
assets with unique historical and cultural value in the future,"
said Mr. Siping Xu, Chairman and
Chief Executive Officer of MDJM.
About MDJM LTD
MDJM provides primary real estate agency services, and as-needed
real estate consulting and independent training services. Through
its subsidiaries, the Company expects to focus on international
expansion for the development of real estate-related hospitality,
butler services and more. For more information regarding the
Company, please visit http://ir.mdjmjh.com.
Forward-Looking Statements
This announcement contains forward-looking statements. All
statements other than statements of historical fact in this
announcement are forward-looking statements. These forward-looking
statements involve known and unknown risks and uncertainties and
are based on current expectations and projections about future
events and financial trends that the Company believes may affect
its financial condition, results of operations, business strategy,
and financial needs. In addition, there is uncertainty about the
further spread of the COVID-19 virus or new variants thereof, or
the occurrence of another wave of cases and the impact it may have
on the Company's operations. Investors can identify these
forward-looking statements by words or phrases such as "may,"
"will," "expect," "anticipate," "aim," "estimate," "intend,"
"plan," "believe," "potential," "continue," "is/are likely to" or
other similar expressions. The Company undertakes no obligation to
update forward-looking statements to reflect subsequent occurring
events or circumstances, or changes in its expectations, except as
may be required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company's annual report on Form 20-F and its
other filings with the Securities and Exchange Commission.
Investor Contact:
Sherry
Zheng
Weitian Group LLC
Email: shunyu.zheng@weitian-ir.com
Phone: +1 718-213-7386
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SOURCE MDJM LTD