Agritek Holdings, Inc. Announces Florida Governor Rick Scott Signs Medical Marijuana Bill

Agritek Holdings, Inc. Announces Florida Governor Rick Scott Signs Medical Marijuana Bill

Company States the So-Called "Charlotte's Web" Law Will Benefit an Estimated 125,000 Children in Florida Who Suffer From Severe Epilepsy

LOS ANGELES, CA--(Marketwired - June 17, 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 Governor Rick Scott signed a bill on Monday that legalizes the use of a non-euphoric strain of marijuana to treat conditions such as epilepsy, Lou Gehrig's disease and cancer. The Senate Bill 1030 which approves the medication, and SB 1700, which protects the identities of the patients who use it, will now start the process and clear the way for the first qualifying patients to enter the program once established by the state.

"As a father and grandfather, you never want to see kids suffer," Scott said in a statement. "The approval of Charlotte's Web will ensure that children in Florida who suffer from seizures and other debilitating illnesses will have the medication needed to improve their quality of life." 

The Charlotte's Web bill legalizes strains of marijuana that are high in cannabidiol, or CBD, but low in tetrahydrocannabinol (THC), the compound that produces a high. An estimated 125,000 children in Florida suffer from severe epilepsy and their families lobbied hard to persuade reluctant legislators to open the door to limited use. It also could be used by adults. Authorized patients will be allowed access to the drug through oil or vapor form, but it may not be smoked. Florida physicians who have been authorized to order this strain of medical marijuana can start writing prescriptions Jan. 1, 2015.

If 60 percent of Florida voters on November 2, 2014, approve Amendment 2, it would allow doctors to prescribe other forms of marijuana, including the kind that is smoked, to treat an even wider range of conditions.

"We at Agritek Holdings have already taken preliminary steps in the hope of becoming an active participant and partner to the great state of Florida as the newly passed medical cannabis legislation begins to go into effect. Our Agricultural nursery and land previously showcased on a CBS news special report highlighting the medical marijuana industry in Florida is an ideal location with unlimited non-federal water sources, infrastructure and electricity that could act as an intermediate testing ground for licensed candidates. Our resources and experience with the specialized strain now approved in Florida through our Colorado operations is second to none. We have also begun negotiations to manage and operate a large GMP facility which would act as an ideal indoor testing and agricultural facility meeting all the quality standards necessary to separate and control the harvest to ensure security, control and consistency of medicine separating the specialized strain from other agricultural crops using pesticides. With our home base in Florida, and qualifying property for a proposed licensee, we intend on being a recognized source of leadership and guidance for this ground breaking legislation" stated B. Michael Friedman, CEO of Agritek Holdings Inc.

About Agritek Holdings, Inc. Agritek Holdings, Inc. (www.Agritekholdings.com), the first fully reporting Company and pioneer within the medicinal marijuana space provides innovative patient and agricultural solutions seeks to be the leader in Compassionate Care Technology for the medicinal marijuana industry. Agritek Holdings provides real estate management and health and wellness product lines including beverages, vaporizers and accessories under the Mont Blunt ™ brand (www.montblunt.com). Agritek Holdings Inc. does not directly grow, harvest, or distribute or sell cannabis or any substances that violate 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.

Contact: Agritek Holdings, Inc. [e-mail]