LOS ANGELES, CA, June 06, 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 that the Company has completed its application and approval process for its uplisting onto the OTCQB. The Company expects to receive its approval as early as next week to be trading from the pink sheets to the higher exchange.
“The listing of our common stock to the OTCQB Exchange is yet another important milestone for Agritek Holdings," stated Neil Mundie, CEO of Agritek Holdings Inc. "While AGTK has been a fully reporting company since its inception, we will always hold ourselves to the highest regulatory and compliance standards. Our management team believes that the broader exposure afforded by the OTCQB will raise our visibility within the investment community and assist in increasing the liquidity of our common stock. In addition, we believe that trading on this established public market will help to generate exposure of our Company among new institutional investors," further stated Mundie.
The OTCQB is a venture market operated by OTC Markets Group and designed for early-stage and developing US and international companies. To be eligible, companies must be current in their reporting and undergo an annual verification and management certification process. To learn more, visit otcmarkets.com.
Additionally, following the recent announcement and purchase agreement of its’ licensed manufacturing and cultivation facility located in San Juan, Puerto Rico, Agritek Holdings has launched the distribution and sale of its new Full Spectrum, Nano-infused hemp product line “Chillo”, including water and beverage enhancers and hemp infused vitamin Gummies.
Agritek Holdings, through its previous Company Mediswipe, was one of the first public Companies within the cannabis sector to import, distribute, and sell hemp infused beverages, including the brand Chillo and C Swiss Tea. The Company has recently brought on a national sales director with an established track record of millions of dollars in sales of Hemp beverages within 23 states including convenience stores, dispensaries and big box stores. The “Chillo” line of products including “Chill” and “Focus” water enhancers and infused Gummies will be available nationally this month.
Expectations for the cannabidiol (CBD) market continue to look bright as estimates are projecting the market to grow by 700% by 2020, according to Forbes. A new report by cannabis/legal marijuana market analysts firm Hemp Business Journal projects that the CBD market will grow to $2.1 billion by 2020, an astronomical jump in value compared to last year's cannabidiol (CBD) market of $202 million. As the market continues to swell, it is expected the space will reach the billion-dollar status as product diversification and global demand drive revenue levels. One of the major drivers for the CBD market is the growing list of Health benefits of CBD oil. CBD oil products have several benefits and are believed to cure various ailments in the human body. Over the past few years, the demand for CBD oil has increased in different parts of the world because of the growing awareness about the health benefits alone.
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.
FORWARD-LOOKING DISCLAIMER:
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.