Business
Agritek Holdings Inc. Announces Expected Licensee Approval To Begin Planting This Month For Company’s Colorado Eighty Acre Hemp Research Farm
Agritek Holdings Inc. Announces Expected Licensee Approval To Begin Planting This Month For Company’s Colorado Eighty Acre Hemp Research Farm.
About this update from Agritek Hldgs Inc
[{"type":"text","content":"\nLOS ANGELES, CA, May 10, 2018 (GLOBE NEWSWIRE) -- Agritek Holdings, Inc. (OTCQB: 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 receive final approval of its Hemp research application with plans to begin planting its first acres this month located on its eighty (80) acre farm located in Pueblo, Colorado by its licensee. Recently, the Company has decided to escalate its presence in Colorado due to recent advancements for national cannabis legislation in which President Trump and Colorado Senator Cory Gardner negotiated a groundbreaking deal on behalf of Legalized Marijuana. The Company is the owner of eighty acres in Pueblo with water and mineral rights and has immediate plans to fund its partner in the planting of its first acres on the planned research Hemp  property with proprietary industrial hemp strains earmarked specifically for use in important healthcare applications. \n Additionally, as recent as last month, Senate Majority Leader Mitch McConnell introduced a bill that would remove federal barriers to hemp, which is derived from the cannabis plant but, as a nonpsychoactive substance. Hemp, instead, is typically used for its fiber to make all kinds of products — food, paper, cardboard, carpets, clothes, rope and a variety of healthcare products. Hemp has historically been banned under federal drug laws that also prohibit marijuana. As Tom Angel recently reported for Forbes, The Hemp Farming Act of 2018 wouldn’t legalize cannabis for recreational or medical uses at the federal level, where psychoactive weed remains illegal for all purposes. It would only legalize hemp. The bill was also backed by Sens. Rand Paul (R-KY), Jeff Merkley (D-OR), and Ron Wyden (D-OR). And a companion bill has been introduced in the House. “We at Agritek Holdings are extremely encouraged by both Attorney General Jeff Sessions’ latest remarks, as well as Senator Majority Leader Mitch McConnell’s recent Bill.  It is important that this recent trend in legalization is clear to the public and our shareholders that Hemp products are completely legal for consumers to purchase and/or consume in the United States. We plan to aggressive...