LOS ANGELES, CA, Jan. 02, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Agritek Holdings, Inc. (AGTK) www.AgritekHoldings.com, a fully integrated, active real estate investor for the cannabis sector and consultant for multiple cannabis brands, today announced the acquisition and launch of the premium cannabis lifestyle brand “Higher Society” which includes craft cannabis concentrates, extracts, tinctures, oils, flower, topicals, edibles, rosin, vape pens and accessories through the newly announced Apex Extractions Distribution division.
Recently, Agritek Holdings announced board approval for the acquisition of certain assets, distribution and brands of the award winning California based cannabis manufacturing Company Apex Extractions (www.Apexextractions.com).
The new Agritek Holdings and acquisition of the Apex distribution licensed division will allow the Company to join forces to launch the “Higher Society” premium cannabis brand initially in California in order to drive revenue for both companies.
The company will focus on building a multi-state consumer-focused cannabis flower and concentrate brand portfolio focusing on the premium and luxury segments. The “Higher Society” lifestyle cannabis brand will be the cornerstone brand of the new Agritek/Apex through the completed acquisition of Apex’s Distribution division. The Company will aggressively expand the Higher Society brand throughout the west coast of the United States through its strategy to be the leader of the highest-value segments of the California cannabis market. The Higher Society Cannabis brand will be produced and distributed through Apex Extractions exclusively, and will be offered throughout 200 dispensaries initially in California already selling Apex products.
Additionally, the Company plans to apply for a regulated cannabis delivery license within northern California near the Apex manufacturing facility in Oakland. Once approved, this will further provide customers a dynamic opportunity to purchase and have premium cannabis products delivered to their door.
“We have developed expertise in the creation, branding and distribution of a highly regulated product which we will now incorporate into the launch of our unique lifestyle brand ‘Higher Society’. Our strategy is to offer ‘cannabis 2.0’ and next gen products to licensed dispensaries and consumers demanding premium quality through our new delivery subscription services,” stated Scott Benson, CEO of Agritek Holdings Inc. “We look forward to embracing our common goal of creating a leading lifestyle cannabis brand consisting of unique cannabis products and accessories to apparel while driving sales into the adult-use marketplace,” further stated Benson.
“As the company enters its next chapter of growth and scale, we’re very pleased to have Scott Benson continue as CEO and lead our team into the company’s future growth moving into 2020,” stated Michael Friedman, founder of Agritek Holdings Inc. “His deep experience with building premium award winning brands such as Apex, Pinnacle and now Higher Society will help us scale effectively to meet new market demands. With further consolidation in the sector, the new AGTK will remain dead-set focused as a consumer packaged goods Company with leading brands distributed nationally, as old models of cultivation and manufacturing alone continue to suffer within the sector,” added Friedman.
New cannabis consumers have become accustomed to premium quality, and have communicated an immediate need for cannabis 2.0 products of the future tailored with a desired lifestyle. The “Higher Society” brand will essentially seek to provide a unique lifestyle brand delivered directly to the consumer, essentially similar to an “Amazon” box and delivery model within multiple legal jurisdictions starting in California, the largest legal state for recreational use cannabis.
About Agritek Holdings, Inc.
Agritek Holdings, Inc. (www.AgritekHoldings.com), is a fully integrated, active real estate investor and advisor 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 holdings. Currently, the Company is focused on three high-value segments of the cannabis market, including real estate investment, intellectual property/brands, and infrastructure, with operations in three U.S. States, Canada, and Puerto Rico. Agritek Holdings, Inc. presently owns or manages cannabis properties in Colorado, 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.
About Apex Extractions
Founded in February 2017, Apex Solutions was one of the first licensed, recreational cannabis manufacturers established when legalization occurred in the state of California. So far in 2019, Apex Extractions’ concentrates and pens have already won 10 High Times Cannabis Cup awards and last month the company introduced the Apex Solutions Fresh Club subscription delivery service. Apex additionally provides bulk concentrates to some of the largest brands in California.
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.
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