Agritek Holdings Inc. (AGTK)

[stocktivity]

http://ir.agritekholdings.com/news/releases/agritek-holdings-inc-applauds-move-by-canada-that-just-legalized-marijuana-bringing-big-implications-and-paving-way-for-new-us-drug-policy-4822642

"The Company will additionally expand the distribution, sale and licensing of its CBD brands from its proprietary Hemp cultivation operations in Colorado.

Agritek Holdings strongly supports and expects to benefit from the new Drug Enforcement Administration (DEA) announcement and its recent statement on the legality of cannabidiol (CBD) -- which further clarifies that some CBD products, such as hemp-derived CBD products sold by Agritek Holdings Inc. New regulations seem to state that the Company’s brands are legal to distribute freely throughout the United States and do not fall under the regulations of the Controlled Substances Act (CSA). The Company’s brands include Hemp Pops, MD CBD Strips, tinctures and soft gels currently sold at www.Hempops.com and www.WellnessHempoil.com

The statement clarified:

"Products and materials that are made from the cannabis plant and which fall outside the CSA definition of marijuana (such as sterilized seeds, oil or cake made from the seeds, and mature stalks) are not controlled under the CSA. Such products may accordingly be sold and otherwise distributed throughout the United States without restriction under the CSA or its implementing regulations."

The statement continued, "The mere presence of cannabinoids is not itself dispositive as to whether a substance is within the scope of the CSA; the dispositive question is whether the substance falls within the CSA definition of marijuana."

"Agritek will continue to acquire land assets and cannabis/CBD brands seeking larger distribution within the US and Canada. We look forward to the next bold move by Congress to pass the 2018 Farm Bill, which would permanently remove hemp and hemp products from the purview of the Controlled Substances Act," stated B. Michael Friedman, CEO of Agritek Holdings Inc.