LOS ANGELES, CA--(Marketwired - Feb 23, 2017) - Agritek Holdings, Inc. (OTC PINK: AGTK), a leader in compassionate care technology and agricultural solutions for the recreational cannabis industry, today announced that the Company has entered into negotiations to purchase an additional thirty-five (35) acre property located in Pueblo county which has already been approved and received licenses for cultivation. The new property with existing structures will be managed on behalf of Agritek by licensed cultivators with a strong track record within the state. Additional plans for a manufacturing facility and recreational license to work in cooperation with the recently announced and completed purchase of the eighty (80) acre parcel and proposed cannabis farm for the medicinal and recreational sector located in Pueblo, Colorado will also be under the same operational agreement.
With these recently announced cultivation property acquisitions in Colorado and a new manufacturing agreement being completed for California, Agritek Holdings has been informed that the Company has been added as one of the first recognized public cannabis companies to the new regulated cannabis exchange traded fund (ETF) now seeking registration.
ETF Managers Group, based in Summit, New Jersey, has filed an initial registration statement for what could be the first cannabis exchange-traded fund (ETF), the Emerging AgroSphere ETF. The proposed fund will be focused on medical cannabis and will not invest in any companies that are focused on serving the non-medical marijuana market in the United States, Canada or any other country unless and until such time as the production and sale of non-medical marijuana becomes legal in the United States, Canada or such other country, respectively.
The fund will replicate an index created by BE Asset Management to "track the performance of the exchange-listed common stock (or corresponding American Depositary Receipts ("ADRs") or Global Depositary Receipts ("GDRs")) of companies across the globe that (i) engage in lawful medical research intended to lead to the production of government approved prescription drugs which utilize natural or synthetic versions of the cannabidiol CBD and other cannabis based extracts, (ii) are involved in the production or sale of products which are legal derivatives of industrial hemp, or (iii) are involved in the supply chain of either category of company."
The current sixty-nine constituents include: 22nd Century Group, Abattis Bioceuticals, Abbott Laboratories, Abbvie, Aero Grow Intl, Affinor Growers, Agritek Holdings, American Cannabis Company, Americann, Aphria, Arrow Electronics, Aurora Cannabis, Axim Biotechnologies, Beleave, Cannabics Pharmaceuticals, Cannabis Sativa, Cannabis Science, Cannabix Technologies, Cannagrow Holdings, Canopy Growth, Cara Therapeutics, Cree, CV Sciences, Easton Pharmaceuticals, Eco Science Solutions, Emblem, Emerald Health Therapeutics, General Cannabis, Golden Leaf Holdings, Green Cures & Botanical Distribution, Greengro Technologies, Growblox Sciences, GW Pharmaceuticals, Heliospectra, Hemp Inc, ICC International Cannabis, Inmed Pharmaceuticals, Insys Therapeutics, Kaya Holdings, Kush Bottles, Maple Leaf Green World, Marapharm Ventures, Marijuana Company Of America, Massroots, mCig, Medical Marijuana Inc, Medicine Man Technologies, Mentor Capital, Naturally Splendid Enterprises, New Colombia Resources, Novus Acquisition & Development, Nutritional High, Organigram, OWC Pharmaceutical, Pharmacan Capital, Pharmacyte Biotech, Rocky Mountain High Brands, Scotts Miracle-Gro, Signal Bay, Supreme Pharmaceuticals, Surna, Terra Tech, Tetra Bio-Pharma, THC Biomed, Trailblazer Resources, United Cannabis Corp, Veritas Pharma, Vodis Pharmaceuticals and Zynerba Pharmaceuticals.
The entire news article with Agritek Holdings Inc. listed may be found at the following link:
The link filed with the Securities and Exchange Commission may be viewed here:
"I believe there will be real consolidation within this sector as it becomes more regulated throughout the states with our new government officials and the Trump administration now in place. Agritek Holdings, acting under the model of a real estate REIT acquiring multiple properties in regulated jurisdictions, intends to build out these first properties as fully operational cannabis farming operation, collecting rents and infrastructure fees that can supply any dispensary or patient within a regulated state. Agritek Holdings will seek to provide the states with approved legislation a superior model showcasing all in one service facilities and brand," stated B. Michael Friedman, CEO of Agritek Holdings, Inc.
Investment firm Cowen & Co. believes that legal marijuana sales could soar from $6 billion today to $50 billion by 2026. That's a compound annual growth rate of nearly 24% over the next decade.
About Agritek Holdings, Inc.
Agritek Holdings, Inc., (www.AgritekHoldings.com) a pioneer within the medicinal marijuana space, provides innovative technology and agricultural solutions and seeks to be the leader in Compassionate Care Technology for the recreational cannabis industry. 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.