Agritek Holdings Inc. Announces Filing of 10 Q to Return to Fully Reporting Status as Company Receives Additional Purchase Orders for Agricultural Supplies and Begins Negotiations for Manufacturing Facility to Expand Oregon Cultivation Partner Operations
LOS ANGELES, CA--(March 07, 2016) - Agritek Holdings, Inc. (OTC PINK: AGTK) (http://www.Agritekholdings.com), a leader in Compassionate Care Technology and agricultural solutions for the recreational cannabis industry, today announced that after recently filing an 8K announcing its new auditing firm L&L CPAS, PA ("L&L") in order to return to fully compliant reporting status, the Company will be filing its 10 Q by market close today and no later than Tuesday morning. The Company is additionally working on its 10K annual report which will be filed in a timely manner by April 15th.
"Our return to fully reporting SEC status will once again give our long term shareholders and new investors the confidence in Agritek Holdings as we continue to execute on our business model and prove legitimacy as a leader within the wellness sector to the investment community. Our model of working with licensed cultivators on the lease of land, warehouse, green house and agricultural supply side with direct manufacturer relationships to licensing the dispensaries our growing partners provide for with unique wellness products in my opinion will soon prove to be the most sound and most sustainable model in this sector," stated B. Michael Friedman, CEO for Agritek Holdings Inc.
Agritek Holdings has recently partnered with, and is now starting to receive multiple purchase orders from an Oregon based cultivation operation supplying approximately 15 dispensaries within the state. The Oregon based operation has agreed to allow Agritek Holdings to supply all growing materials needed to expand the over 50 acre green house cultivation operation including, fertilizers, nutrients, lighting and additional materials. Further, Agritek Holdings and the cultivation partner have entered into negotiations for Agritek to fund a manufacturing facility on a long term lease which the parties will create a full line of wellness products and edibles under Agritek Brands with Agritek receiving a flat licensing fee for brand creation, labeling, consulting and marketing.
"Products will include the company's new flavored capsules, infused beverages and edibles for the regulated market in Oregon, and then moving the scalable model to additional regulated jurisdictions," further stated Friedman.
About Agritek Holdings, Inc.
Agritek Holdings, Inc. (www.Agritekholdings.com), a pioneer within the medicinal marijuana space, provides innovative patient and agricultural solutions and seeks to be the leader in Compassionate Care Technology for the medicinal marijuana industry. Agritek Holdings provides real estate management and health and wellness product lines including through its wholly owned subsidiary Agritek Venture Holdings Inc. Agritek 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.
Agritek Holdings, Inc.