LETHAM, Scotland, Jan. 23, 2024 /PRNewswire/ -- MDJM LTD (Nasdaq: MDJH) (the "Company" or "MDJM"), an integrated global culture-driven asset management company, today issued the following letter to shareholders from its Chairman and CEO, Siping Xu, providing an update on the Company's strategic shift since August 2022, which has been focusing on the integration of cultural arts and hotel services in the UK market, along with its vision for global expansion and value creation.

Dear Shareholders:

In 2023, MDJM has endeavored to continue to enhance our offerings in the cultural arts sector, in line with our strategic pivot towards the UK market. This focus includes a variety of activities integral to our asset management approach, such as cultural operations, historical asset acquisitions, cultural tourism, and educational experiences. Our dedication to these areas is a direct extension of our ongoing commitment to promoting unique cultural heritage and bolstering our competitive standing.

Key Developments and Achievements in 2023

Robin Hill Hotel

In March 2023, we celebrated the successful opening of Robin Hill Hotel, following its acquisition in December 2022. Maintaining its Victorian charm in Torquay, England, the hotel has become a beacon of our commitment to integrating historical heritage with modern luxury and cultural depth.

Fernie Castle

Our acquisition in August 2022 and subsequent renovation of Fernie Castle have transformed it into a unique destination. Fernie Castle, nestled in the heart of Fife, Scotland, has been rejuvenated to serve both as our headquarters for iconic assets as well a hub for cultural heritage. The introduction of unique service offerings, such as castle-themed wedding services and the Fernie Castle Treehouse, have been significant in creating immersive cultural experiences for our guests.

Future Outlook and Vision

Looking to the future, we are enthusiastic about the potential of these and other properties in our portfolio. Our integration of modern digital technology with these historical sites is aimed at creating unique assets that balance historical significance with contemporary practicality. We have enhanced our properties with advanced systems and interactive platforms, which we expect to enable us to improve operational efficiency and enrich guest experiences. We believe that this innovative approach is pivotal to our vision of creating assets that are both historically significant and practically valuable in today's digital age. Moving forward, we also plan to establish partnerships with renowned architectural and design institutions, as we seek to establish culturally rich and architecturally notable hotels globally.

As we continue our journey in 2024, we remain committed to developing locally immersive tourism experiences utilizing historical properties as platforms for cultural education. This approach aligns with our global expansion strategy, through which we aim to diversify our service offerings in the cultural and hospitality sectors worldwide. We believe that MDJM is poised for continued growth and is dedicated to enhancing its services, capacities, and competitiveness through a comprehensive strategy. We are striving to evolve into a more integrated, globalized, and culture-driven asset management company with a strong emphasis on specialty hotels, tourism, and cultural markets across Europe and beyond.

Sincerely,

Mr. Siping XuChairman and CEO

About MDJM LTD

MDJM 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 ZhengWeitian Group LLCEmail: shunyu.zheng@weitian-ir.comPhone: +1 718-213-7386