Los Angeles, CA - (Marketwired) - Agritek Holdings, Inc. (AGTK) (or the "Company") Agritek Holdings, Inc., a fully reporting company on the OTCQB and leader in Compassionate Care Technology and indoor/outdoor agricultural solutions for the medicinal marijuana industry, today announced that the company's wholly owned subsidiary, Agritek Venture Holdings, Inc. ("AVHI"), has closed the real estate purchase of 3.2 acres in Apex Industrial Park labeled as Nevada's "Green Zone" in a cash transaction for the amount of $225,000 on behalf of one of the first provisional licenses for cultivation in Nevada and its exclusive tenant My Life Organics. The property in partnership with My Life Organics has been approved as one of the first provisional licenses to cultivate medicinal marijuana with plans for the Company and AVHI to build and manage a 40,000 sq. ft. facility in Clark County.
AGTK Advisory Board Member Mr. Neal Bartoletta, who initiated the licensing and legal process on behalf of My Life Organics, received final approval and notification by the state earlier last month. AVHI who has purchased the land and will hold title and the Company will build out the 40,000 sq. ft. facility on behalf of My Life Organics and receive monthly rent based on a percentage of gross revenues. Completion of the project is expected to take approximately four months for the facility to be operational.
"This facility will be one of the first of its kind in operation under the new Nevada legislation and will provide the North Las Vegas community with construction, agricultural and technology jobs through building one of the state's most sophisticated and secure cultivation facilities producing the most consistent supply of medicinal products on behalf of approved patients in the area," stated B. Michael Friedman, CEO of Agritek Holdings.
About Agritek Holdings, Inc.
Agritek Holdings, Inc. (Agritek Holdings, Inc.), the first fully reporting Company and pioneer within the medicinal marijuana space provides innovative patient and agricultural solutions 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 vaporizers and accessories under the Mont Blunt brand (Mont Blunt Vapor). Agritek Holdings Inc. does not directly grow, harvest, or distribute or sell cannabis or any substances that violate United States law or the Controlled Substances Act, nor does it intend to do so in the future.
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Website: Agritek Holdings Inc. Announces Closing and Development of Real Property for 40,000 Sq. Ft. Cultivation Facility in Nevada "Green Zone"
AGTK Advisory Board Member Mr. Neal Bartoletta, who initiated the licensing and legal process on behalf of My Life Organics, received final approval and notification by the state earlier last month. AVHI who has purchased the land and will hold title and the Company will build out the 40,000 sq. ft. facility on behalf of My Life Organics and receive monthly rent based on a percentage of gross revenues. Completion of the project is expected to take approximately four months for the facility to be operational.
"This facility will be one of the first of its kind in operation under the new Nevada legislation and will provide the North Las Vegas community with construction, agricultural and technology jobs through building one of the state's most sophisticated and secure cultivation facilities producing the most consistent supply of medicinal products on behalf of approved patients in the area," stated B. Michael Friedman, CEO of Agritek Holdings.
About Agritek Holdings, Inc.
Agritek Holdings, Inc. (Agritek Holdings, Inc.), the first fully reporting Company and pioneer within the medicinal marijuana space provides innovative patient and agricultural solutions 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 vaporizers and accessories under the Mont Blunt brand (Mont Blunt Vapor). Agritek Holdings Inc. does not directly grow, harvest, or distribute or sell cannabis or any substances that violate United States law or the Controlled Substances Act, nor does it intend to do so in the future.
News Moderator: Shandar @ 420 MAGAZINE ®
Source: Yahoo Finance - Stock Market Live, Quotes, Business & Finance News
Website: Agritek Holdings Inc. Announces Closing and Development of Real Property for 40,000 Sq. Ft. Cultivation Facility in Nevada "Green Zone"
