(Bloomberg) -- MJ Holdings, a Nevada-based cannabis company with a market cap of just over $100 million, said in a statement it expects an initial shipment of 800,000 pre-filled cannabis dispensing units called Q-Cups. Shares surged 50 percent on five times average volume.

• MJ Holdings (ticker MJNE) said it entered into an exclusive distribution pact in August with Healthier Choices Management Corp. (ticker HCMC), the designer and patent holder of the Q-Cup, which comes pre-filled with about 50 milligrams of cannabis concentrate that will deliver eight to ten "hits" per cup
• Suggested retail price of Q-Cups will range between $8 and $10 depending on brand and THC/CBD potency

To contact the reporter on this story: Arie Shapira in New York at ashapira3@bloomberg.net

To contact the editors responsible for this story: Chris Nagi at chrisnagi@bloomberg.net, Steven Fromm

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