Agritek Holdings, Inc. (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 expects to complete the acquisition of certain assets of Apex Extractions including brands and distribution licenses into a wholly owned subsidiary of Agritek Holdings by February 2020. Apex is a California based licensed manufacturer and distributor of over eleven Cannabis Cup award-winning brands (www.Apexextractions.com).
The highly anticipated acquisition brings together one of the most recognized cannabis brands in California with licensed manufacturing facilities in Oakland, California as a wholly owned subsidiary with immediate access to the public markets. Agritek Holdings is presently applying for a name change post acquisition to reflect the company’s pure real estate holdings model as Apex will represent the cannabis brands, assets, revenue and distribution model as the subsidiary. Both Companies will benefit investors strategically with the “new” Agritek Holdings seeking to purchase and lease back additional industrial zoned and innovative properties for cannabis operators with Apex and its partners acting as tenants and licensee’s for manufacturing, retail and cultivation operations in multiple legal jurisdictions.
“Under our new proposed acquisition structure, Apex will continue to provide manufacturing and distribution of our leading brands initially in California with revenue flowing through our subsidiary as Agritek, our parent and holding company will act as our real estate partner funding operations as we expand to multiple jurisdictions creating a perfect synergy for the sector,” stated Scott Benson, CEO of Agritek Holdings.
Approval of the executed definitive agreement and asset acquisition and name change is subject to the standard due diligence process and compliance for transactions approved for trading by OTC Markets.
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Source: Biospace