LOS ANGELES, CA, Jan. 03, 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 newly licensed brand “Microdose Strips” (www.MicrodoseStrips.com), a sublingual, or oral strip wellness product as a THC and CBD oral tab in single dose packages will now be available in select West Hollywood dispensaries and Orange County delivery services as soon as next week.
The company first debuted the THC and CBD oral strips at The Hemp Con Halloweed Fest near San Francisco in October through its’ licensed manufacturer. The new Microdose Strips (www.microdosestrips.com) are a discreet, dose controlled, evaporating oral strip which offer a unique and smoke-free alternative to patients initially residing and holding medical recommendations in California. The medicated oral strips are now being distributed to dispensaries and delivery services throughout California as the result of new legislation within the state as of January 1, 2018, sold in a single pack and eventually multi-packs. Doses for one oral strip will consist of 10mg, 50mg and 100mg strips, and are manufactured through a consistent organic sun growth cannabis base. The strip is utilized by being placed under the tongue or between the cheek and gum of the mouth with the strip dissolving directly into the bloodstream.
Microdose Strips (www.microdosestrips.com are designed exclusively for Agritek and are available in both Indica and Sativa strains through licensed manufacturers. As previously stated, Agritek will receive a flat fee for brand license and package, with distribution and manufacturing being fulfilled through its' licensed manufacturing, dispensary and delivery partners in California. The product will sell for between $8.00 and $12.00 depending on dose to dispensaries with Agritek receiving a flat fee for packaging and brand name.
“Agritek holdings will continue to focus on properties and licensed manufacturers to partner with to own and purchase a majority equity interest in unique cannabis brands. We are strengthening our position in California with offices, licensed distributors and sales channels for our brands California Premiums, Microdose Strips, Hemp Pops and others soon to be announced as we expand our reach to legally operating dispensaries and delivery services. Our focus on products other than traditional flower including those that can cross over to big pharma and nutraceutical industries like oral tabs, gel caps and others will clearly position Agritek for further organic growth and greater revenue,” stated B. Michael Friedman, CEO of Agritek Holdings, Inc.
Adults who are at least 21 years old can legally purchase recreational marijuana and products from select retail shops in California beginning Monday of this week, a milestone that instantly makes the state the world’s largest legal marijuana marketplace.
“This was another milestone in California’s voter-approved efforts to be smarter and more cost-effective about preventing real crime,” Lt. Gov. Gavin Newsom (D) told HuffPost. ”Now it’s time for California to transition a billion-dollar industry largely existing in the shadows of the black market into a tracked, traced, taxed and tightly regulated system.”
California, the most populous U.S. state, began the nation’s medical marijuana trend in 1996, and holds an outsized influence in national policy as it begins recreational marijuana sales under an initiative approved by voters in 2016. The state’s new recreational marijuana industry has a projected value of as much as $7 billion ― enough to make it the world’s largest legal marijuana market ― and is predicted to eventually generate $1 billion annually in local and state tax revenue.
California produces vast amounts of marijuana, and has done so for years. Now, more than 20 years after the state legalized medical marijuana, 28 other states allow cannabis for medical purposes. Eight states, including California, and the District of Columbia, have also legalized the plant for adult recreational purposes.
“California is going to have a major impact on the public’s view of cannabis, not just in the U.S., but around the world,” Mason Tvert, a proponent of progressive drug laws and a partner at VS Strategies, a communications and government relations firm focused on marijuana policy, told HuffPost. “California is our country’s number one tourism destination, with millions of people from around the country and hundreds of thousands from around the world visiting each year. A whole lot of people are going to witness this system. They will see that it works, and they will share their experiences with others back home.”
California’s new recreational marijuana law allows adults 21 and older to legally possess up to one ounce of marijuana. Adults can also grow up to six cannabis plants at home for personal use. It remains illegal to openly use marijuana in public, and smoking pot is banned anywhere that tobacco smoking is banned, so recreational consumers will have to enjoy their new rights in private.
A recent Gallup poll found that 64 percent of Americans favor making marijuana legal ― the highest since the pollster first posed the question almost five decades ago. Majorities of Republicans, Democrats and independents all voiced support for legal marijuana. The majority of this article originally appeared on HuffPost.
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 or manages property in Colorado, Washington State, Puerto Rico and Canada and has licenses with permitted facilities in California approved for cultivation as well as manufacturing capabilities. The company owns several Hemp and cannabis brands for distribution including "Hemp Pops", Hemp oil wellness products 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.