LOS ANGELES – Agritek Holdings Inc. a leader in compassionate care technology and agricultural solutions for the recreational cannabis industry, today announced that the Company has executed a Letter of Intent and Joint Venture Agreement for the exclusive license of California Premiums, a cannabis pre-rolled concept.
The unique packaging concept includes four (4) half (1/2g) gram pre-rolled premium strains individually wrapped, along with a branded lighter, now sold in medical dispensaries throughout California. Agritek Holdings will have exclusive licensing rights for the brand receiving a flat royalty fee for the license and packaging as well as set up distribution models in dispensaries throughout California and all legal jurisdictions.
“With the pending vote in California for becoming a recreational state through a majority vote on Prop 64 next month, we couldn’t have engineered a better acquisition or product at a more perfect time for our sector,” said B. Michael Friedman, Agritek CEO. “California Premiums are well known as a premium brand of pre rolls in the state, first introduced and owned by Epicenter Meds.
” With our new funding and reach within the state through hundreds of dispensaries, we expect to build this brand aggressively and create our strongest revenue stream through our flat-fee royalty model with a strong belief that Prop 64 will pass in the next short weeks giving our partners and distributors access to a recreational market place that we believe could surpass Colorado.”
“We are extremely pleased to be working with Agritek Holdings as one of the pioneers within the public cannabis sector,” said Clay Butler and Peter Cohen for Epicenter Meds. “ Our California Premiums brand with the publicity and support of the public marketplace will surely help us achieve our vision and goals we first conceived when creating our brand.”
Agritek Holdings, Inc. (OTC PINK: AGTK) provides innovative technology and agricultural solutions in Compassionate Care Technology for the recreational cannabis industry. Agritek 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.