LOS ANGELES, CA--(Marketwired - August 23, 2017) - Agritek Holdings, Inc. (OTCQB: AGTK) www.AgritekHoldings.com, a fully integrated, active cannabis real estate investor and branding consultant in the legal cannabis sector today announced the Company’s first orders from its’ state licensed manufacturer for its brand “MicroDose” Oral Strips (www.microdosestrips.com) or “MD Strips” for the medicinal market of California. First orders and samples are being sent to dispensaries and local delivery services in both San Diego and Orange County this month. Agritek Holdings will provide the licensing and packaging to produce the exclusive line of 10mg and 50 mg oral strips as a medicinal alternative for patients.
The Agritek “Microdose” brand will be produced and expected to be distributed through its permitted manufacturer and collective to 140 plus dispensaries throughout California over the coming months. AGTK will receive a flat fee per single package designed exclusively by Agritek Holdings with the first 10,000 units being delivered by the end of the month.
The new Microdose Strips (www.microdosestrips.com) are a discreet, dose controlled, evaporating oral strip which offer a unique and smoke-free alternative to patients initially residing and holding medical recommendations in California. The medicated oral strips will be distributed to dispensaries and sold in a single pack and eventually multi-packs. . Doses for one oral strip will consist of 10mg and 50mg strips, and are manufactured through a consistent organic sun growth cannabis base. The strip is utilized by being placed under the tongue or between the cheek and gum of the mouth with the strip dissolving directly into the bloodstream.
The Microdose Strips designed exclusively for Agritek are available in Indica and Sativa strains and will eventually be launched nationally as a CBD brand through licensed manufacturers. As previously stated, Agritek will receive a flat fee for brand license and package, with distribution and manufacturing being fulfilled through its’ licensed manufacturer in California. The product will sell for between $8.00 and $12.00 depending on dose to dispensaries with Agritek receiving a flat fee royalty for packaging and brand name.
“MD Strips are a unique medical alternative to both smoking and vaping and are a completely discreet product sold by our licensed vendors on behalf of patients. We are proud to be one of the first public companies in the cannabis sector to create packaging and alternative medicines on behalf of real patients suffering from effects of chemotherapy to multiple diseases that need an alternative to smoking or vaping. Our scientific approach to this marketplace truly separates us from most in our sector. We plan for MicroDose Strips to become an important medical brand and rising trend for a safe, discreet alternative to smoking or vaping as an effective medical sublingual application for cannabis in multiple jurisdictions,” stated B. Michael Friedman, CEO of Agritek Holdings, Inc.
Recently, Sen. Patrick Leahy (D-VT.) successfully introduced and passed the Rohrabacher-Blumenauer amendment in the Senate Appropriations Committee. This amendment is what currently forbids utilizing federal funds to go after lawfully operating medical-cannabis businesses in the 29 legal states. If this amendment is included in the upcoming budget, it’ll continue to deny federal regulators the right to use federal funds to go after medical-marijuana businesses for at least another year.
“The largest drug addiction epidemic is the opioid pain killer drug addiction epidemic now plaguing our country. Statistics show that the rates of opioid pain killer use are down dramatically in legal cannabis jurisdictions. We hope to be a part of this necessary trend as we help licensed operators launch alternative cannabinoid delivery systems to patients.” Further added Friedman
About Agritek Holdings, Inc.
Agritek Holdings, Inc., (www.AgritekHoldings.com) a pioneer within the medicinal marijuana space, provides innovative technology, brands and agricultural solutions for both the medicinal and recreational cannabis industry. Agritek Holdings, Inc. presently owns or manages property 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 MD Vapes, MicroDose Strips, “Hemp Pops” 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.
Contact:
Agritek Holdings, Inc.
www.AgritekHoldings.com
305.721.2727
info@agritekholdings.com
