In a press release on Friday, Millennium Investment & Acquisition Company, Inc. announced that it is making its first foray into the cannabis cultivation market. The company is the parent of Millennium Pharmaceuticals, Inc. and Millennium Bioproducts, Inc. and specializes in the research and development of innovative medications. The company has moved into cannabis out of a desire to expand its portfolio to include non-narcotic prescription drugs, such as cannabis.

Cannabis has hit the mainstream, and companies like Millennium Investment & Acquisition Company, Inc. (OTC: MIAC) are taking advantage of the emerging market. Now that several U.S. States have passed laws legalizing the drug for both medical and recreational use, investors are looking for investments in an industry that is expected to generate more than $7 Billion this year. However, investors need to be aware that not all investments in this sector may be equal.

The 21 st century has been an exciting time in the world of medical marijuana. As more states legalize the use of cannabis for medical and recreational purposes, cannabis has rapidly become one of the most highly sought after commodities in the United States. More recently, several states have legalized the use of marijuana for recreational purposes and have begun the process of establishing marijuana markets. The cannabis industry is quickly becoming one of the most lucrative industries in the country and the world. The company initiated cannabis cultivation in an entirely new way, maximizing the use of previously untapped resources to create a sustainable, cost-effective way to produce sustainable crops. The company has already established a network of growers across the country, and is currently developing an exciting line of medical

Old Bethpage, New York, 24. May 2021. (GLOBE NEWSWIRE) — Millennium Investment & Acquisition Co. Inc. (US-OTC: MILC) (MILC or the Company) today announced that it has agreed to invest in cannabis start-up operator Walsenburg Cannabis LLC (WC). As part of the transaction, MILC has agreed to provide debt capital to WC for the transaction, and MILC is in the process of obtaining regulatory approvals for cannabis production licenses in Colorado. Once approval is obtained, CILM is expected to become the majority shareholder of WC in the form of a preferred share. Concurrent with the investment in MILC, WC entered into a ground lease for the properties acquired from Power REIT (NYSE-AMEX: PW and PW.PRA). David H. Lesser, Chairman and Chief Executive Officer of MILC, is also Chairman and Chief Executive Officer of Power REIT. The site of approximately 22.2 hectares includes existing greenhouses and processing areas (the property). As part of the power lease agreement, the REIT has agreed to finance the renovation and modernization of existing facilities and the construction of additional greenhouse facilities. On completion of this work, a total area of approximately 102,800 m2 of greenhouses and related spaces will be built on the site. MILC’s total capital commitment to the project is $750,000. David Lesser, President and CEO of MILC, commented. This transaction represents a new direction for CILM, which is seeking to abandon its status as an investment company under the Securities Act of 1940. As previously reported, CILM is in the process of divesting its sole equity investment and transforming it into an operating company with two business lines: sustainable cannabis cultivation in greenhouses and activated carbon production. MILC is excited about the prospects in both of these areas and I look forward to announcing further exciting developments in the near future. WC is run by Jared Schrader, an experienced cannabis operator with a proven track record. In two years, Schrader took the Colorado cannabis business from an annual income of $150,000 to a weekly income of more than $150,000 (or >$8 million per year). Jared Schrader, president of Walsenburg Cannabis, commented. The site is divided into five parcels, each with a local cannabis license. This will allow the company to implement a rapid growth plan given the nature of the cannabis license in Colorado, which is based on a limited number of plants initially grown at each location. Once performance is proven to regulators, each plant has the option to upgrade and add new plants. Based on the initial configuration of the site, WC plans to grow approximately 11,000 cannabis plants in a short period of time, which can be harvested approximately five times a year. Based on current cannabis prices in Colorado, this would generate more than $10 million in annual revenue. Colorado was the first state to legalize cannabis. It is now the second largest cannabis market in the United States and demand continues to grow strongly. Mr Schrader continued: I believe this property can quickly become a major producer of cannabis and cannabis-related products for the Colorado market, the second largest cannabis market in the United States. I look forward to working with MILC and Power REIT to develop this project. De-registration under the 1940 Act The 14th. On October 20, 2020, shareholders approved a proposal to change the nature of the Company’s business from an investment company registered under the Investment Company Act of 1940 (the 1940 Act) to a holding company primarily engaged in the ownership and management of active coal companies and the acquisition of other privately held companies (the Deregistration Proposal).The Company is in the process of implementing the Deregistration Proposal, as a result of which it ceases to be an investment company under the 1940 Act and has filed an order with the SEC under the 1940 Act that the Company ceases to be an investment company (the Deregistration Order). While the Company seeks to fully implement the deregistration proposal, it remains subject to regulatory approval and the ability to reconfigure the Company’s portfolio to deregister as an investment company. The time required to reconfigure the Company’s portfolio may be affected by, among other things, the COVID 19 pandemic and associated market volatility, capital preservation decisions, the Company’s ability to identify and pursue desirable acquisition opportunities, and applicable regulatory, creditor and governance requirements. The conversion process can take up to 24 months; and it is not certain that a balance sheet removal proposal, even if fully implemented, would improve the company’s performance. In addition, the SEC could decide not to grant the company’s de-registration application, which would significantly alter the company’s plans for its operations. MILC continues to focus on liquidating its only equity investment, a stake in SMC, and plans to invest the proceeds in existing businesses. MILC currently expects to fully liquidate its position in MSC by the end of the current quarter, although there is no certainty as to when or if this will occur. VIA MILLENNIUM INVESTMENT & ACQUISITION COMPANY INC. Millennium Investment and Acquisition Co. Inc. (Ticker: MILC) is an internally managed, non-diversified, closed-end investment company. In 2020, CILM announced its intention to terminate its registration as an investment company governed by the Investment Company Act of 1940. CILM is currently seeking a ruling from the SEC that it is no longer an investment company because it no longer meets the definition of investing in securities, but has focused on direct investments in operating companies. For more information about the MILC, visit the website: www.millinvestment.com ON POWER RIDE Focusing on the triple bottom line and a commitment to profit, planet and people, Power REIT (ticker: PW and PW.PRA) is a specialized real estate investment trust (REIT) that owns sustainable real estate linked to infrastructure assets, including controlled environment agriculture, renewable energy and transportation assets. Power REIT is actively seeking to expand its portfolio of agriculture-related properties in a controlled environment for food and cannabis cultivation. For more information about Power REIT, please visit their website: www.pwreit.com WARNING AGAINST FORWARD-LOOKING STATEMENTS This document contains forward-looking statements under U.S. securities laws. Forward-looking statements are statements that predict or describe future events or trends and do not relate solely to historical facts. Forward-looking statements are generally identified by statements containing the words believe, expect, anticipate, intend, estimate, project, plan, assume, pursue, or other similar expressions, or the negative equivalents of these expressions, although not all forward-looking statements contain these identifying words. All statements in this document that relate to our future strategy, future operations, prospects, the future of our industries and the results that may be obtained based on management’s current or future plans and objectives are forward-looking statements. You should not place undue reliance on forward-looking statements because the matters described therein are subject to known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond our control. Our forward-looking statements are based on information currently available to us and apply only as of the date of this document. Over time, our actual results, performance, financial condition or achievements may differ from those anticipated, expressed or implied in our forward-looking statements, and such differences may be material and adverse to the holders of our securities. CONACT : David H. Lesser, President and CEO [email protected] 212-750-0371 301 Winding Road Old Bethpage, NY 11804 www.millinvestment.com   Millennium Investment & Acquisition Company, Inc. Announces Initial Foray into Cannabis Cultivation“Millennium Investment & Acquisition Company, Inc. is proud to announce its initial foray into the cannabis cultivation industry. The company has been involved in the cannabis industry for several years and is very excited about this new opportunity.. Read more about millennium investment and retirement advisors, llc and let us know what you think.

Frequently Asked Questions

Is Millennium a hedge fund?

For some time now, Millennium has been known as a hedge fund, but in the last couple of months it has been moving into different areas of the financial markets. As part of this effort, the company has entered the cannabis sector. While it is true that it is investing in the marijuana industry, it is not a hedge fund. Rather, it is an acquisition company and it is involved in the marijuana industry through the acquisition of marijuana startups. Millennium Investment & Acquisition Company, Inc.  (OTCQB: MIAC) announced today that they have filed a new venture into the cannabis cultivation industry. With the slow approach by government, the cannabis industry is expected to grow significantly. This industry is a lucrative for years to come. In Colorado alone, the revenue from cannabis sales in 2018 was $1.4 billion. Millennium is first public company to start a cannabis cultivation company. They plan on becoming a major player in the industry.

How do I invest in the Millennium hedge fund?

The cannabis craze has come and gone, with high-flying stocks like Tilray (TLRY) and Canopy Growth (CGC) soaring to meteoric heights before plummeting like a skydiver with a faulty parachute. But cannabis isn’t going away, and companies like the Canadian grower Aphria (APHA) are doing quite well. We’re starting to see a shift away from the high-flying, speculative stocks to cannabis real estate, such as Green Thumb Industries (GTBIF), which is building a network of dispensaries, cultivation, and manufacturing centers outside of the United States. The cannabis industry is attracting traditional Wall Street money like never before. Once a field dominated by small-time pot enthusiasts, investors from across the nation are now lining up to bet big on “Weed 2.0”. The reason is simple: the cannabis industry is projected to be a massive $14 billion business by 2019 , and could reach as much as $35 billion by 2020 . This means that getting in on the ground floor of this new, exciting industry could mean huge payoffs for smart, savvy investors.

Who is Millennium Partners?

Known as the “Dream Team” of capital markets, Millennium Partners has finally made its entrance to the world of legal cannabis with today’s announcement that it will enter into a joint venture with Aphria Inc. (TSX: APH) (OTCQB: APHQF) and its Arizona-based subsidiary, Copperstate Farms. The company in question will be called Copperstate Farms, and milliennium will invest $100 million on top of the $20 million that Aphria has already committed to help get the operation off the ground. The investment will essentially be used to build out the facilities and cultivate the first batch of cannabis. Though the global marijuana market is estimated to be worth $150 billion, few know that it is invaded by a quiet competitor. Millennium Partners, a leading firm in the cannabis industry, is eying to be the next big player in the cannabis cultivation industry.  The company announced its initial foray into the cannabis cultivation industry earlier this month, raising $400 million to fund its expansion plans.  The company plans to invest in facilities across the country, which will be used to grow and process cannabis for the state-legal cannabis industry in the US.

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