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Agritek Holdings, Inc. Provides Shareholder Update and Announces Return of Industry Veteran CEO With Fiscal Plan for 2020

Los Angeles, CA, Jan. 24, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE --A Agritek Holdings, Inc. (AGTK) --A 
Dear Agritek Holdings Shareholders,The management and founding shareholders of Agritek Holdings, since our inception, have always had the sole intention to spend every day focused on building an ever increasingly strong and profitable business within the cannabis sector, all serving to enhance shareholder value. Given the rapid pace of change within the cannabis industry and its challenges, Agritek Holdings is one of the first publically traded cannabis companies and pioneer within the sector. As the Companya??s founder and CEO over 10 years ago, I thought it important to provide an update to all of our shareholders in light of yesterdaya??s events.A A a??I wanted to inform every one of our shareholders, investors and financial partners that I will once again provide leadership and bring in experienced management to the best of my ability along with a viable business model that will include extreme focus and resolved commitment, despite the recent downturn of our common stock and the termination of our proposed acquisition of Apex Extractions, Inc. abruptly cancelled yesterday. This decision was due to unforeseen events beyond our control, but I believe in the long term was the right decision based on discovery during the due diligence period, and will enable us to pursue a far superior business model benefiting our shareholders over the near term. I will be making several announcements over the coming weeks which will describe in more detail the current state of the business and our future plans for the balance of Fiscal 2020 which I believe will initiate positive change in our marketplace," statedA CEO, B. Michael Friedman.KEY BUSINESS OBJECTIVES
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