Agritek Holdings (OTCQB:AGTK) announced its licensing partner 1919 Clinic obtained preliminary approval for a manufacturing and cultivation license in Puerto Rico.
As quoted in the press release:
Agritek Holdings presently holds a five year exclusive operational agreement with the Puerto Rico-based licensee 1919 Clinic with the Company providing funding for infrastructure build out, cultivation partners, equipment lease financing and product brand licenses. The final issuance of the manufacturing license will allow the operation to produce edibles and extraction services for other cultivators as well as oils for cartridges supplied by Agritek.
Agritek Holdings has already started to receive rental income since May 2017 and will receive residual income throughout the term of the agreement on all infrastructure loans, product licensing and cultivation consulting. B. Michael Friedman, CEO for Agritek, stated, “Puerto Rico in my opinion as a US territory has very unique status, and with our guidance and innovations for the 25,000 square foot facility in the middle of the city of San Juan will set the standard for compliance, growing technology and consistency of medicine. We have already started to infuse funds for infrastructure build out and security systems under the guidelines of the Department of Health and plan to make 1919 Clinic the gold standard for the island.”
“Puerto Rico, similar to Nevada, has set guidelines to be a territory of reciprocity where patients holding cards from other regulated states will be able to purchase medicine during their travel. With Puerto Rico being one of the top destinations for the cruise ship industry, we believe the stage is being set for Puerto Rico to be a meaningful and newly emerging medical market for the cannabis sector. Agritek will be bringing our expertise, including cultivation teams from Colorado and California, to technology and new product brands, creating jobs, innovation, compliance and meaningful revenue for the Puerto Rico economy,” further stated Friedman.
American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.
Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.
Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).