Agritek Holdings Inc. (OTC: AGTK), a leader in compassionate care technology and indoor/outdoor agricultural solutions for the medical marijuana industry, recently announced that 800 Commerce Inc. [stockquote symbol=ETHG] has been cleared by FINRA for quotation on the OTCQB. A total of 2,416,115 shares are eligible for trading after being dispersed to Agritek’s shareholders.
“The commencement of trading of 800 Commerce as a fully reporting company within the mobile payment technology sector and completion of the dividend to our loyal shareholders marks yet another milestone and another promise delivered in our corporate history,” said 800 Commerce Inc. President B. Michael Friedman. “We will continue to provide value to shareholders and new investors.”
The merchant processing and banking division of 800 Commerce is presently reporting approximately $200 million in annual gross merchant processing volume from clients and strategic alliances. Over the next several weeks, the company plans on adding several new board members and unveil its long-term strategy to the investment public in a relatively new and rapidly growing industry.
The move also frees up Agritek to focus on its core real estate management as well as its health and wellness line within the medical marijuana industry. Under its Mont Blunt™ brand, the company provides a range of products, including beverages, vaporizers, and accessories to variety of distribution channels. The fully integrated model simplifies the industry’s model through seed to sale business processes.
Recently, the company announced that it executed a purchase agreement for a 3.5 acre property with a proposed 40,000 square foot structure in Nevada’s “Green Zone” to be used for medical marijuana cultivation, production, and testing. The deal is expected to close after a 60 day due diligence period granted by the State of Nevada pending its licensing and adds to its existing Pueblo, Colorado property.
Shares of Agritek Holdings Inc. jumped more than 1% in early trading on Monday, August 4, 2014 following the announcement.
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