Agritek Holdings, Inc. Announces Completion of Acquisition of Cannabis Brand IP Company Full Spectrum Biosciences Inc. as Wholly Owned Subsidiary Including New RehabRx CBG Infused Hand Sanitizer Product Line

LOS ANGELES, CA, March 19, 2020 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE – Agritek Holdings, Inc. (AGTK) www.AgritekHoldings.com, a fully integrated, active real estate investor and white label provide for popular hemp brands, today announced that the Company has completed the acquisition and definitive agreement to acquire all of the issued and outstanding shares of Full Spectrum Biosciences Inc., a Colorado based company focused on blockchain, genetic mapping of cannabis strains and IP formulation of premium brands.The closing of the acquisition and definitive agreement between Agritek Holdings and Full Spectrum Biosciences included an all-equity transaction of 10M shares of Agritek Holdings for acquiring 100% of the issued and outstanding shares of Full Spectrum Biosciences Inc. including Intellectual property assets, Colorado hemp license renewal, proprietary formulations, and brands. Full Spectrum Biosciences will become a wholly owned subsidiary of Agritek Holdings, Inc. for consolidation of revenue. Shareholders of both companies will benefit from the combined companies’ expanded product offerings, infrastructure, revenue streams, and consumer reach. Through the acquisition, Agritek Holdings will now own the exclusive portfolio of premium brand formulations with Full Spectrum Biosciences operating as Agritek’s health and wellness business. “Full Spectrum Bioscience’s established premium wellness brands and formulations will now provide Agritek Holdings with an additional revenue platform from which the combined company will launch new hemp based nutraceutical products for growing consumer segment,” stated CEO, B. Michael Friedman.“With COVID-19 officially declared a pandemic by the World Health Organization, Full Spectrum Biosciences will soon be releasing a proprietary cannabinoid-infused, aloe based hand sanitizer product containing  cannabigerol, or CBG. The hand sanitizer will be released under the Company’s Rehab Rx brand with the first purchase orders already in place for delivery this month,” added Friedman.Cannabinoids have potent antibacterial properties and studies have shown that cannabidiol (CBD) and cannabigerol (CBG) have potent effects against antibiotic resistant bacteria which makes it an ideal ingredient to add in the fight against bacterial infections. Recently, McMaster University researchers have identified an antibacterial compound made by cannabis plants that may serve as a lead for new drug development. An interdisciplinary team of McMaster researchers found that the chemical compound, or cannabinoid, called cannabigerol (CBG) is not only antibacterial but also effective in mice against a resilient family of bacteria known as methicillin-resistant Staphylococcus aureus (MRSA). CBG achieved this by targeting the cell membrane of the bacteria. These findings in the laboratory were supported when mice with an MRSA infection were given CBG. The findings were published in the journal American Chemical Society Infectious Diseases.Further, a Journal of Natural Products research article, published in 2008 by the American Chemical Society, reported that cannabidiol (CBD) and cannabigerol (CBG), two of the most abundant cannabinoids found in hemp, “showed potent activity against a variety of MRSA strains.” Cannabinoids have been proven to have potent antibacterial properties, but this study shows that cannabinoids can be an effective ingredient to fight antibiotic resistant bacteria which is the leading cause of death in hospitals.The journal went on to conclude that “Given the availability of Cannabis sativa strains producing high concentrations of nonpsychotropic cannabinoids, this plant represents an interesting source of antibacterial agents to address the problem of multidrug resistance in MRSA and other pathogenic bacteria. This issue has enormous clinical implications, since MRSA is spreading throughout the world and, in the United States, currently accounts for more deaths each year than AIDS. Although the use of cannabinoids as systemic antibacterial agents awaits rigorous clinical trials … their topical application to reduce skin colonization by MRSA seems promising.”Reference: Journal of Natural Products“Antibacterial Cannabinoids from Cannabis sativa: A Structure−Activity Study”https://pubs.acs.org/doi/pdf/10.1021/np8002673The new hand sanitizer product developed by Full Spectrum Biosciences in response to COVID-19 will be manufactured in our GMP, USDA certified partner Oregon facility that is FDA registered, and comes complete with 3rd party lab Certificate of Analysis (COA) testing to guarantee potency. Those who have interest in purchasing and receiving the RehabRx infused hand sanitizer should register at www.RehabRx.comAbout Agritek Holdings, Inc.Agritek Holdings, Inc. (www.AgritekHoldings.com), is a fully integrated, active real estate investor and advisor of white label brands in the legal cannabis sector. Specifically, Agritek Holdings provides strategic capital and functional expertise to accelerate the commercialization of its diversified portfolio of cannabis related real estate holdings. The hemp based raw material and products produced at facilities owned by Agritek Holdings and leased back to licensed operators are then used for retail branded CBD, CBG and Hemp oil extract products sold around the world.  Agritek Holdings Inc. does not directly grow, harvest, or distribute or sell cannabis or any substances that violate or contravene United States law or the Controlled Substances Act. 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.
www.AgritekHoldings.com
305.721.2727