|By Marketwired .||
|May 30, 2014 09:15 AM EDT||
LOS ANGELES, CA--(Marketwired - May 30, 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 US House of Representatives in session until after midnight, the lower chamber of Congress cast a historic 219 to 189 vote to restrict the Department of Justice and the Drug Enforcement Administration from using taxpayer funds to interfere in state-sanctioned medical marijuana programs.
This measure was co-sponsored by Rep. Sam Farr (D-Calif.), Reps. Rohrabacher (R-Calf.), Don Young (R-Alaska), Earl Blumenauer (D-Ore.), Tom McClintock (R-Calif.), Steve Cohen (D-Tenn.), Paul Broun (R-Ga.), Jared Polis (D-Colo.), Steve Stockman (R-Texas), and Barbara Lee (D-Calif.). 170 Democrats and 49 Republicans voted in favor of the amendment, 172 Republicans and 17 Democrats voted against it.
"It would be hard to overstate the importance of tonight's vote," said NORML Communications Director Erik Altieri, "Approval of this amendment is a resounding victory for basic compassion and common sense."
The House also approved amendments that prohibit the DOJ and DEA from using funds to interfere with state sanctioned industrial hemp cultivation.
Recently, Agritek Holdings announced it has executed and closed a lease agreement for 20 acres of an agricultural farming facility located in South Florida bordering Lake Okeechobee and the Loxahatchee River in Palm Beach County through its subsidiary Agritek Venture Holdings Inc. The Company also owns an additional 80 acres in Pueblo County, Colorado presently zoned for production of commercial Hemp. The Company's plans would provide infrastructure, greenhouses, consulting and security to the potential licensee once chosen by the state.
"We are extremely excited about this new development in the US legislative branch and as additional favorable legislation becomes law, we will continue to seek any opportunities within the regulated states and Federal guidelines," stated B. Michael Friedman, CEO of Agritek Holdings.
These amendments were made to the 2015 Commerce, Justice, and Science Appropriations Bill, which now must be approved by the Senate and then signed by President Obama.
The Company will keep you updated on this evolving situation.
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.
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.
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