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Agritek Holdings, Inc. Announces Permit Approvals For San Juan, Puerto Rico 15,000 Sq. Ft. Cultivation And Processing Facility As Colorado Hemp Farm Moves Toward Production
Agritek Holdings, Inc. Announces Permit Approvals For San Juan, Puerto Rico 15,000 Sq. Ft. Cultivation And Processing Facility As Colorado Hemp Farm Moves Toward Production.
About this update from Agritek Hldgs Inc
[{"type":"text","content":"\nLOS ANGELES, CA, June 14, 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’s licensee has received final permit approvals for its’ 15,000 sq. ft. cultivation and processing facility located in San Juan, Puerto Rico. The newly issued permit approvals will now allow the Company’s provisional licenses for cultivation and manufacturing to be “green lighted” for final inspections by the Department of Health, believed to take place this month to commence operations.\n  The 15,000 sq. foot facility located in the heart of San Juan is under an exclusive multi-year financing, operations and licensing agreement with Agritek Holdings. Under new rules and regulations within Puerto Rico, the facility will focus on processing flower of other operations on the Island for oils, without the large burden of costs for major grow operations. The planned first vertically integrated operation in San Juan will qualify to provide for cultivation, processing and retail after the final inspection process. Puerto Rico, with its’ tourism trade, allows patients of all states holding a medical card to purchase cannabis related products on the Island. To date, it is one of the most robust markets in pricing compared to the largest markets in the US including California and Colorado with averages of $4,000 a pound as compared to $1,000 in other recreational districts. The Company additionally expects to market and sell its full line of Hemp and CBD products through the manufacturing facility. The property is perfectly suited for the cultivation and processing as it has high ceilings for vertical growing, a turnkey commercial kitchen and will be complete with 1,600-amp, 480-Volt 3 phase electric systems. Additionally, Agritek Holdings recently announced that it has been approved for its’ Industrial Hemp License through its licensee and advisory member. The Company plans to germinate 25,000 seeds over the next few weeks for use on its 78 acres. The Company expects the seeds to be feminized Cherry Wine hemp CBD strains that test in compliance of hemp laws of having .03% THC or less while averaging 15% CBD. The seeds may ...