Agritek Holdings Inc. (AGTK)

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Agritek Holdings Inc. Announces Binding Letter of Intent for Asset Acquisition of Dry Vapes Products and Technology for Company's Mont Blunt(TM) Brand


Last update: 08/09/2014 9:28:00 am



Agritek Holdings Inc. Announces Binding Letter of Intent for Asset Acquisition of Dry Vapes Products and Technology for Company's Mont Blunt(TM) Brand

LOS ANGELES, CA--(Marketwired - September 08, 2014) - Agritek Holdings, Inc. (OTCQB: AGTK) (http://www.Agritekholdings.com), a fully reporting company on the OTCQB and leader in Compassionate Care Technology and indoor/outdoor agricultural solutions for the medicinal marijuana industry, today announced that the Company has executed a binding Letter Of Intent for the asset acquisition of the entire line of products, technology and customers of Dry Vapes Holdings, Inc. (www.dryvapes.com). The new vaporizer and accessory acquisition with over 7,000 instagram followers and revenues already exceeding one-hundred thousand ($100,000) in sales now added to Agritek Holdings is expected to be designed and merged into the Mont Blunt product line this quarter.

"We believe the acquisition of Dry Vapes and their experienced management team combined with superior vapor technology and product lines will help propel the Mont Blunt (TM) brand to the next level. The new subsidiary "Prohibition Products Inc." (PPI) created for the acquisition of Dry Vapes and the Mont Blunt brand will expand our reach into the recreational marketplace as we continue to add new products for the wellness and alternative health sector over the coming weeks. We expect to announce the signing of a final definitive agreement by the end of the week," stated B. Michael Friedman, CEO of Agritek Holdings.

"Agritek Holdings with its' land ownership within the recreational market and ties to several hundred medical dispensaries in Colorado and additional jurisdictions made the ideal partner for our brand and new line of products. We look forward to a long term partnership and providing the latest and greatest technologies for wellness products as we complete this acquisition and increase our market share together providing premium products to multiple jurisdictions," stated Anthony Thomas, CEO of Dry Vapes Holdings, Inc.

The Mont Blunt(TM) (www.MontBlunt.com) brand of vaporizers and e-cigs, are presently available via our web site, as well as www.DryVapes.com as well through specific retailers.