LOS ANGELES, CA--(Marketwired - Oct 10, 2017) - Agritek Holdings, Inc. (OTCQB: AGTK) www.AgritekHoldings.com, a fully integrated, active real estate investor for the cannabis sector and branding consultant today announced that the Company is in the final stages of licensing and construction planning for its 80 acres located in Pueblo, Colorado. The Company's new industrial Hemp and research facility and pod farm is expected to produce medical grade CBD oil for research and the launch of multiple product lines. The first grow pod has been delivered to the facility while awaiting for final approvals for multiple licensees.
The new cultivation and grow pod farm located on 80 acres in Pueblo, Colorado owned by Agritek Holdings will operate as a wholly owned subsidiary named "American Hemp Trading Company" and "77 Acres Inc". The new pod farm will seek to help cannabis business owners planning to operate under the Colorado regulatory environment by eliminating the difficult process of identifying suitably zoned property including the necessary infrastructure for their operations. Infrastructure costs have become extremely high in Denver, with minimal indoor space available, combined with declining prices of cannabis products within recreational marketplace which have decreased margins considerably over the last year.
Agritek has already identified several sites in strategically located cities that can accommodate multiple cannabis licensees in a shared environment and organized manner through the development of our Colorado based pod farm, Puerto Rico cultivation and manufacturing facility as well as partnerships in Washington State and new location in California within the Bay area.
Once final licensing requirements are met, licensed businesses will be allowed to produce and sell Hemp and manufacture CBD products. Colorado as one of the first recreational markets, has set the landscape as the California cannabis market is expected to reach $6.5 billion by 2020, according to ArcView Market Research.
The Agritek facility at 77 Acres pod farm will offer individual cannabis licensees the ability to purchase or lease either existing empty lots and grow pods while sharing newly constructed manufacturing facilities that are properly zoned, and ready-to-grow, with all necessary infrastructure in place, including state-of-the-art perimeter security. Permits will seek to include local city zoning and authorization for indoor cultivation, greenhouses, nurseries, volatile and non-volatile manufacturing, tissue culture and breeding pods, distribution, and transport. Agritek will strive to create a cannabis-friendly environment that enables licensees to move quickly through the construction phase to become operational, to help to promote the future success through a "WeWork" or shared environment model.
"Our principal model of purchasing or leasing Real estate is one of Agritek's greatest advantages and biggest opportunities for cannabis licensees and investors ready to participate in our sector. Agritek is presently a cultivation land owner and operations consultant in five jurisdictions and has overseen cultivation, manufacturing, distribution and security in Colorado, Puerto Rico, Washington State for a tier 3 facility as well as its new cannabis friendly bed and breakfast facility in Canada. Finding property for the purpose of selling, growing, or manufacturing cannabis or cannabis goods is not like finding a space for your average commercial location. In my opinion, from an investor's perspective, Agritek offers the stability and security that any other commercial real estate venture can provide added with the booming recreational cannabis sector. We also have strategically spread our investment risk across multiple jurisdictions and will work with numerous licensees of different types rather than relying upon any single grower or manufacturer for our success," stated B. Michael Friedman, CEO of Agritek Holdings, Inc.
About Agritek Holdings, Inc.
Agritek Holdings, Inc., (www.AgritekHoldings.com) a pioneer within the medicinal marijuana space, provides innovative technology and agricultural solutions for both the medicinal and recreational cannabis industry. Agritek Holdings, Inc. presently owns or manages property in Colorado, Washington State, Puerto Rico and Canada and has licenses with permitted facilities in California approved for cultivation as well as manufacturing capabilities. The company owns several Hemp and cannabis brands for distribution including "Hemp Pops", Hemp oil wellness products and "California Premiums". Agritek Holdings, Inc. does not directly grow, harvest, or distribute or sell cannabis or any substances that violate or contravene United States law or the Controlled Substances Act, nor does it intend to do so in the future.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Agritek Holdings, Inc. to be materially different from the statements made herein.
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