LOS ANGELES, CA, May 30, 2018 (GLOBE NEWSWIRE) -- Agritek Holdings Inc. (OTC:AGTK) www.AgritekHoldings.com, a fully integrated, active real estate investor for the cannabis sector and consultant for multiple cannabis brands, today announced that the Company has received its approval for the production of Industrial Hemp by its licensee The American Hemp Trading Company on its eighty (80) acre farm located in Pueblo, Colorado. Recently, the Company has decided to escalate its presence in Colorado due to recent advancements for national cannabis legislation in which President Trump and Colorado Senator Cory Gardner negotiated a groundbreaking deal on behalf of Legalized Marijuana within the state of Colorado.
The Company is the owner of eighty acres in Pueblo, Colorado with water and mineral rights with approved plans to develop the land of its Licensee and partner The American Hemp Trading Company, a Colorado corporation with its’ President being one of the leading cultivators in Colorado and former Cannabis Cup winner.
“This recent approval by the state of our Hemp farm in Colorado will allow Agritek the ability to grow its own biomass for production of its full spectrum Hemp Oil brands containing no THC now being sold in both retail locations and multiple e-commerce sites including www.WellnessHempoil.com and www.Hemppops.com. Our strategic and unique business model of owning our own properties, production and brand distribution with multiple revenue streams will continue to show progress and create shareholder value over the long term as we expand our operations through our real estate property portfolio and products in Colorado, Puerto Rico and California markets,” stated B. Michael Friedman, CEO, Agritek Holdings Inc.
The multi-billion dollar hemp market is projected to grow 700% and hit $1.8 billion by 2020 according to Arc View Research. A full investor presentation on Agritek Holdings may be viewed in the investor section of our corporate website located at www.Agritekholdings.com
About Agritek Holdings Inc.
Agritek Holdings Inc. (www.AgritekHoldings.com), is a fully integrated, active investor and operator in the legal cannabis sector. Specifically, Agritek Holdings provides strategic capital and functional expertise to accelerate the commercialization of its diversified portfolio of cannabis related holdings. Currently, the Company is focused on three high-value segments of the cannabis market, including real estate investment, intellectual property/brands, and infrastructure, with operations in three U.S. States, Canada and Puerto Rico. 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.