Agritek Holdings, Inc. Announces Successful Up-Listing Approval to OTCQB Marketplace
LOS ANGELES, CA--(Mar 24, 2017) - Agritek Holdings, Inc. (
B. Michael Friedman, Chief Executive Officer of Agritek Holdings, Inc. stated, "Our Company has always been committed to the highest level of financial and corporate disclosure that is required for this listing category, and this promise I made to uplist Agritek Holdings demonstrates our continued commitment to our shareholders. We believe that trading on the OTCQB and being DTC eligible will raise the visibility of the Company, enhance trading liquidity, and broaden our shareholder base as we move forward with market acceptance and penetration of our products and services and related verticals in legal jurisdictions within the cannabis sector."
"This upgraded listing opens the door to institutional investors and market makers who were not previously able to buy and sell shares of our Company. Now they may execute on unsolicited orders and also make recommendations to clients as they so choose. Meeting the increased compliance and information requirements of OTCQB provides our investors greater confidence in the information disclosed by the Company and ensures our commitment to accountability and transparency," further added Friedman.
In 2014, OTC Markets Group introduced standards and eligibility requirements for OTCQB with the goal of making it a better venture marketplace. To be eligible, companies must be current in their reporting to a U.S. or foreign regulator, pass a minimum bid price test of one penny ($0.01) and undergo an annual verification and management certification process providing additional information about the company's insiders, advisors and share count. Companies that are approved to trade on OTCQB receive access to additional premium services to help them build visibility and improve transparency for investors.
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 property in Colorado approved for cultivation as well as manufacturing capabilities through California partnerships and owns several Hemp and cannabis brands for distribution including "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.