Welcome!

News Feed Item

Agritek Holdings, Inc. Announces Purchase Of 420 Style Bud And Breakfast Resort In Quebec, Canada As New Recreational Regulations Set To Pass In Canada

Company To Purchase Fifteen-Acre Resort And Estate Property In Canada Where Guests Can Enjoy Cannabis Friendly Atmosphere and Multiple Amenities

LOS ANGELES, CA -- (Marketwired) -- 04/20/17 -- Agritek Holdings, Inc. (OTCQB: AGTK) today announced that the Company has entered into an initial residential and land purchase agreement to purchase a "420 Style" resort and estate property approximately one hour outside of Quebec City, Canada. The fifteen-acre estate consists of nine (9) unique guest suites, horse stables, is within walking distance to a public golf course, which Agritek Holdings will also have ownership in for guests staying at the resort. A separate structure will serve as a small grow facility run by patient employees and caretakers on the property and may be toured by guests of the facility.

As stated by the Washington Post, the government of Canada last Thursday released a plan to legalize recreational marijuana use across the country by July 2018. With a solid Liberal majority in government, the plan is widely expected to become law, but it would leave the details of implementation, including commercial regulations, to individual provinces. Marijuana legalization was a campaign promise of Prime Minster Justin Trudeau. The bill needs to be approved by Parliament, but Trudeau's Liberal Party commands a solid majority there. The measure has also received support from the country's Conservative Party.

The legislation, titled "An Act respecting cannabis and to amend the Controlled Drugs and Substances Act, the Criminal Code and other Acts," would set a minimum age of 18 to purchase and use marijuana. That's lower than the drinking age of 19 in most provinces. It's also a departure from the norm in the United States, where states that have legalized recreational marijuana use have set the minimum age at 21.

Individuals would be allowed to possess up to 30 grams of marijuana for personal use, similar to the one-ounce standard in U.S. states where marijuana use is legal. Households would also be allowed to grow up to four marijuana plants.

While the bill would remove penalties for individual use and possession, it wouldn't set up a nationwide system for selling marijuana commercially -- those details would be left to individual provinces. In provinces that decline to set up a commercial framework, customers could order marijuana online from a federally licensed producer.

The bill would make Canada the second country in the world, after Uruguay, to fully legalize recreational marijuana use. Legal marijuana in Canada, one of the United States' strongest allies, could be a game changer for domestic marijuana policy discussions in the states, with eight states and the District of Columbia now legalized recreational marijuana.

B. Michael Friedman, Chief Executive Officer of Agritek Holdings, Inc. stated, "What Canada is now passing through legislation, I hope the model proves out to move our country in the same direction. We have come up with an incredible opportunity to own this magnificent resort outside of Quebec City. The resort is only an hour and a half by plane from New York City as well. With nine existing guest rooms, horse stables and golf in a cannabis friendly atmosphere, we feel this new, one of a kind property acquisition will be a tremendous addition to our real estate portfolio already including Colorado and Puerto Rico, and Agritek will be the first to own a cannabis resort of its kind in Canada. Closing of the property will take place next quarter with rooms becoming available before year-end. Guest rooms will start at $299 per night with medicine included amongst all of the other amenities."

Agritek Holdings recently announced the Company now trades on the OTCQB Venture Market for early stage and developing U.S. and international companies. To qualify for the listing, companies must be current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com/stock/AGTK/quote.

"Our upgraded listing and further acquisition of major real estate assets and contracts will most certainly open the door to additional institutional investors, market makers and a wider range of small investors and new shareholders who were not previously able to buy and sell shares of our Company. Now they may execute on unsolicited orders and also make recommendations to clients as they so choose. Meeting the increased compliance and information requirements of OTCQB sets us apart from more of the other companies within our sector, providing our investors greater confidence in the information disclosed by the Company and ensures our commitment to accountability and transparency and a future leader in this sector," further added Friedman.

About Agritek Holdings, Inc.

Agritek Holdings, Inc., (www.AgritekHoldings.com) a pioneer within the medicinal marijuana space, provides innovative technology and agricultural solutions for both the medicinal and recreational cannabis industry. Agritek Holdings, Inc. presently owns property in Colorado approved for cultivation as well as manufacturing capabilities through California partnerships and owns several Hemp and cannabis brands for distribution including "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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTred processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Did you know that you can develop for mainframes in Java? Or that the testing and deployment can be automated across mobile to mainframe? In his session at @DevOpsSummit at 20th Cloud Expo, Vaughn Marshall, Sr. Principal Product Owner at CA Technologies, will discuss and demo how increasingly teams are developing with agile methodologies using modern development environments and automating testing and deployments, mobile to mainframe.
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Developers want to create better apps faster. Static clouds are giving way to scalable systems, with dynamic resource allocation and application monitoring. You won't hear that chant from users on any picket line, but helping developers to create better apps faster is the mission of Lee Atchison, principal cloud architect and advocate at New Relic Inc., based in San Francisco. His singular job is to understand and drive the industry in the areas of cloud architecture, microservices, scalability ...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...