LOS ANGELES, CA, July 09, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Agritek Holdings, Inc. (AGTK) www.AgritekHoldings.com, a fully integrated, active real estate investor and white label provider for popular hemp brands, today announced that the Company is in final review of its financial reports including its 10K Annual Report ending December 31, 2019 and first quarter 10Q for 2020 with its registered auditing firm. The Company expects to file the reports within the next three weeks.
"We apologize and understand that the delay in filing our financial reports may have caused concern and inconvenience to our existing shareholders and new investors. We have always maintained our status as a fully reporting Company and will continue to do so, and expect to receive our uplisting to the OTCQB once we are current in our reporting”, stated B. Michael Friedman, CEO of Agritek Holdings Inc.
“With multiple corporate actions pending, including our name change and move into the eSports entertainment sector, and the filing of our S-1 spin off of our cannabis subsidiary Full Spectrum Biosciences, we are excited to move forward with our new strategic plan on behalf of our shareholders, investors and announce our newly expanded management team within the eSports industry. With limited access to corporate offices, banks and documents during the Covid-19 epidemic, we appreciate everyone's patience and understanding while we take the necessary action to see that our filings and pending corporate actions are properly completed and approved as quickly as possible," further stated Friedman
In April 2020, the Company filed a14C information statement which outlines the board action to change the name of the company from Agritek Holdings Inc., to “iBet Gaming Corporation” and to amend the corporate articles. Further details of the proposed amendments are included in the 14-C filing. The complete filing may be seen at OTCMarkets.com under the Company’s ticker symbol: AGTK.
The Board of Directors, management and its advisors believe that once the proposed amendments, name change, corporate actions and filings are approved, they will position the Company to immediately reward investors and shareholders through its new corporate strategy and entry into the emerging eSports entertainment sector. The Company will continue to update its shareholders and public audience as the filings and pending corporate actions move forward.
About Agritek Holdings, Inc.
Agritek Holdings, Inc. (www.AgritekHoldings.com), is a fully integrated, active real estate investor and advisor of white label brands in the legal cannabis sector. Specifically, Agritek Holdings provides strategic capital and functional expertise to accelerate the commercialization of its diversified portfolio of cannabis related real estate holdings. Agritek Holdings recently acquired Full Spectrum Biosciences as a wholly owned subsidiary which manufactures and distributes its hemp-derived CBD products under the Rehab Rx, MD Vapes, Hemp Pops and Higher Society trademarked brands. Full Spectrum brands are currently sold online (www.RehabRx.com) as well as approved for sale on Amazon (www.Amazon.com) currently being sold in the United States and parts of Canada. 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.
About Full Spectrum Biosciences
Full Spectrum Biosciences (FSB) is a wholly owned subsidiary of Agritek Holdings, which manufactures and distributes its hemp-derived CBD products under the RehabRx, MD Vapes, Hemp Pops and Higher Society trademarked brands. Full Spectrum brands are currently sold online (www.RehabRx.com) as well as approved for sale on Amazon (www.Amazon.com) being sold in the United States and parts of Canada. Post spin-off, Full Spectrum Biosciences will continue to invest in the growth of these brands while also seeking to acquire and develop additional brands as intellectual property under the “FSB” banner.
About iBet Gaming Corporation
iBet Gaming Corporation, is a licensed gaming company with a focus on esports, fantasy and in video game wagering. The Company offers real time wagering software on esports events through the Company’s licensed, regulated and secure platform to the global esports community through the soon to be released portal www.ibetgaming.com. In addition, iBet intends to offer users in legal jurisdictions throughout the world the ability to participate in esports entertainment and video game tournaments via live streaming events. The eSports market is expected to grow exponentially because of various driving factors, such as increasing popularity of video games and growing awareness about eSports.
iBet Gaming Corporation is led by a team of industry professionals and technical experts from the online and regulated gaming industries, with a new focus eSports. According to Statista, worldwide revenue for eSports will top $1 billion in 2019, continue to grow rapidly in the coming years and by 2022, 650 million people are expected to be watching eSports online.
The Company through its partners, holds licenses in Curacao and Malta to conduct online eSports tournaments and take wagers for 18+ gaming in the EU and multiple countries.
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