Agritek Holdings, Inc. Announces Agreement with Leading California Manufacturing Facility Apex Solutions Ending Third Quarter with $200,000 in New Purchase Orders
LOS ANGELES, CA, Oct. 01, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – 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 the Company has executed an Operations and Licensing Agreement with Apex Solutions Inc., located in Oakland, California. Apex, founded in 2018, is a licensed operator and manufacturer of multiple award winning Cannabis Cup brands distributed throughout the state of California.
The Agreement allows Agritek to fund the infrastructure of Apex up to two-million ($2,000,000) dollars for expansion of operations and distribution of existing brands as well as the acquisition of new brands manufactured and distributed by Apex. Agritek Holdings will receive immediate revenue from all non-THC cannabis related orders and sales including product packaging, equipment lease financing, real estate rent, payroll financing, and new brand royalties.
Scott Benson, CEO of Agritek Holdings, stated, “With the additional funding and product packaging resources provided by Agritek Holdings and the existing reach and brand recognition of Apex throughout the state of California, we have created an immediate revenue opportunity through organic growth for Agritek. The Agreement allows us to move all product orders, packaging, payroll services and rental income to Agritek through Apex as an established leader within the regulated market of California becoming a win for both Companies. I look forward to integrating the operations of the Apex manufacturing facility and brands with Agritek Holdings as our funding and business logistics partner, merging this partnership into a highly recognized and leading operation while expanding the asset and revenue base of the new Agritek Holdings.”
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 cannabis properties 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 "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.
CONTACT: Contact: Agritek Holdings, Inc. www.AgritekHoldings.com 305.721.2727