Agritek Holdings, Inc. Announces First Purchase Orders and Revenue From Oregon Cultivation Operations for Agricultural Supplies
LOS ANGELES, CA--(February 16, 2016) - Agritek Holdings, Inc. (OTC PINK: AGTK) (www.Agritekholdings.com), a leader in Compassionate Care Technology and agricultural solutions for the recreational cannabis industry, today announced that the Company has partnered with, and received its first purchase orders from an Oregon based cultivation operation. The Company has agreed to supply all growing materials needed including, fertilizers, nutrients, lighting and additional materials for the two operations including one operating 14 acre facility and a new 40 acre facility based in Oregon.
Agritek Holdings direct to manufacturer relationships for all agricultural items will allow stand alone operations within regulated jurisdictions to save at least 10 to 30% through the buying of agricultural supplies through Agritek resources. The first order of nutrients and supplies were shipped to the Oregon operation over the holiday weekend.
"There has always been one major factor missing from our Company since we lost the ability to process transactions via credit cards for the industry as banking regulations still to this day have not yet caught up to the sector. That factor has been meaningful revenue, which must be kept at arms length from direct growing or sales transactions, in an evolving and highly regulated sector. I believe our ability as a leader and innovator will soon be returned as we continue to grow our agriculture supply business in Oregon on a small scale and expanding to Colorado as well as additional legal jurisdictions, while creating strong ties and continued relationships from cultivators to retail operations," stated B. Michael Friedman, CEO of Agritek Holdings Inc.
"These dependent relationships will place us in a strong position to place our retail items on shelves in multiple jurisdictions including our new Hemp wellness line consisting of capsules and beverages," further stated Friedman.
The Company has recently announced it has executed its first manufacturing purchase order for patented flavored capsules for the production and distribution of its' new proprietary formulated capsules under the brands Cannabol Rx and Advanced Hemp Caps.
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 agricultural supplies, 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.