MDJM LTD Partners with Tianjin Rongbaozhai to Enhance Global Cultural Offerings and Strengthen Eastern Art Presence

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Aug 21, 2024, 16:05 ET

LETHAM, Scotland, Aug. 21, 2024 /PRNewswire/ -- MDJM LTD (Nasdaq: MDJH) (the "Company" or "MDJM"), an integrated global culture-driven asset management company, today announced that its wholly-owned subsidiary, MANSIONS CATERING AND HOTEL LTD, a United Kingdom Company ("Mansions"), entered into a Strategic Cooperation Agreement (the "Strategic Cooperation Agreement") with Tianjin Rongbaozhai Culture Communication Co., Ltd. ("Tianjin Rongbaozhai") on August 20, 2024, to enhance the cultural and artistic businesses of both entities. The entry of this agreement marks a significant milestone in MDJM's expansion within the cultural sector, solidifying its position with additional access to top-tier resources in traditional Eastern art and culture.

The Rongbaozhai brand, established over 300 years ago, is a China time-honored brand specializing in Chinese calligraphy and painting. Rongbaozhai operates a comprehensive cultural business that includes galleries, auctions, literary and artistic supplies, exhibitions, education, and digital asset management. Tianjin Rongbaozhai remains a key player in promoting Eastern cultural heritage, with expertise in organizing cultural and artistic exchange activities, exhibition services, and retail of fine arts and crafts.

Through this strategic cooperation, MDJM and Tianjin Rongbaozhai aim to foster deeper collaboration in art exchange, cultural product development, and asset management. Pursuant to the Strategic Cooperation Agreement, Mansions will leverage its historical properties, including Fernie Castle in Scotland and the Robin Hill Hotel in England, as bases for Tianjin Rongbaozhai's cultural dissemination efforts. These sites will host art exhibitions, artist exchanges, auctions, and cultural product sales. In return, Mansions will gain access to Tianjin Rongbaozhai's extensive collections of art and cultural resources. The collaboration also includes joint efforts to develop high-end customized cultural and creative products for the UK and European markets, blending intangible cultural heritage with modern design. Additionally, both parties will explore digitalization of art assets, including the development of digital art platforms and NFTs, to reach new markets and audiences.

The cooperation between MDJM and Tianjin Rongbaozhai is a continuation of MDJM's cultural initiatives, following the recent appointments of experts Dr. Pei-Kai Cheng and Professor Duncan Murray Campbell in cultural development. The construction of the Eastern Garden and renovations at Fernie Castle, combined with the art resources to be provided by Tianjin Rongbaozhai, are expected to further reinforce MDJM's efforts to build a robust cultural and artistic portfolio.

"We are pleased to collaborate with Tianjin Rongbaozhai," said Mr. Siping Xu, Chairman and Chief Executive Officer of MDJM. "This cooperation is a significant step in our ongoing efforts to develop cultural hubs that bridge Eastern and Western cultures. By leveraging our historical properties in both England and Scotland, including Robin Hill Hotel and Fernie Castle, we aim to create a unique fusion of regional and Eastern cultures, expanding the scope and impact of our cultural projects. Our recent cultural initiatives will not only contribute to the success of our current projects but also support our long-term strategy for sustainable cultural development and global market expansion."

About MDJM LTD

MDJM LTD is a global culture-driven asset management company focused on transforming historical properties into cultural hubs that blend modern digital technology with rich historical value. The Company is actively expanding its operations in the UK, where it is developing projects such as Fernie Castle in Scotland and the Robin Hill Property in England. These properties are being remodeled into multi-functional cultural venues that will feature fine dining, hospitality services, art exhibitions, and cultural exchange events. As part of its broader strategy, MDJM is positioning itself as a hub for artisan exchanges, art shows, and sales, leveraging its historical properties as platforms for promoting Eastern and Western cultural exchanges. This initiative reflects the Company's commitment to furthering its global market expansion and enhancing its cultural business footprint. 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. 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 U.S. Securities and Exchange Commission.

Investor Contact:

Sherry Zheng
Weitian Group LLC
Email: [email protected]
Phone: +1 718-213-7386

SOURCE MDJM LTD