LOS ANGELES, CA--(Marketwired - Aug 15, 2017) - Agritek Holdings, Inc. (
B. Michael Friedman, CEO of Agritek Holdings, stated, "We are pleased with the progress of our second quarter results and encouraged by the overall progress that we have made since uplisting to the OTCQX. Our first consulting revenues, initial release of newly branded products now in inventory, and the increased equity in our property portfolio including Colorado and Puerto Rico operations all show a strategic execution of our business strategy within the cannabis sector."
"Year to date, we have doubled our brand portfolio from two brands to four brands, assembled a team of best-in-class brand management professionals to drive organic growth, and we have positioned our company with new institutional investors to increase our balance sheet to execute on our land and brand acquisition strategies. With our five year operations agreement for our 25,000 square foot cultivation facility in Puerto Rico moving toward production and a newly executed Letter of Intent for an additional operations agreement in Washington State with one of the largest licensed operators with revenues in this highly favorable jurisdiction, there is still much work to be done, but certainly an exciting time for Agritek Holdings Inc.," further stated Friedman.
About Agritek Holdings, Inc.
Agritek Holdings, Inc., (www.AgritekHoldings.com) a pioneer within the medicinal marijuana space, provides innovative technology, brands and agricultural solutions for both the medicinal and recreational cannabis industry. Agritek Holdings, Inc. presently owns or manages property in Colorado, 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 MD Vapes, MicroDose Strips, "Hemp Pops" 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.