Agritek In Talks to Acquire Additional 900 Acres In Colorado for Hemp CBD and Infused Research
Cannabis real estate investor Agritek Holdings has a nice 80 acres for their planned hemp farm and factory in Pueblo, Colorado. They’re now in talks to purchase the 900 acres surrounding it.
Agritek announced in a Nov. 14 release they’re entering negotiations to buy 900 adjacent acres to their current Pueblo farm and research facility. The industry real estate and brand consultant firm has been given first right and is acting to purchase, though financial terms were not disclosed.
If completed, the facility would grow to nearly 1,000 acres overall, and would be one of the largest cannabis projects seeking approval in Colorado.
Agritek’s plans sound as big as the property’s size, as they announce their intention to be the largest CBD genetics propagator in the country. “The Company's primary focus will be in creating and patenting genetic strains of true medical marijuana and hemp-based CBDs,” they said in the release. “Using tissue culture, combined with its patented hydroponic pod technology, the Company can create identical, pathogen-free plantlets that can be used to create highly standardized hemp-based CBDs that are THC free in content.”
“The first beta pod unit is already in place on the property,” the statement added.
Ultimately, the company intends to harvest 350,000 pounds of flower annually for cannabinoid extraction. Agritek has an industrial partner licensed to cultivate, transport, and distribute cannabis through the farm.
In addition to CBD, the company is interested in developing THCV products for obesity and diabetes, and CBG products for sleep aid.
"The addition of 900 acres for our research hemp grow to our existing 80 acres in Pueblo, Colorado, once complete, will put Agritek Holdings in a category of a major manufacturer and provider of CBD products for multiple jurisdictions,” Agritek Holdings CEO B. Michael Friedman said in the release. “With our existing land holdings, we have additionally entered into binding agreements to provide pharma grade CBD isolate and land contracts to some of the largest providers in our industry."
The release cites a Hemp Business Journal report predicting the hemp-based product market would expand to nearly $2 billion, and make a significant dent in the $17.7 billion opioid market as consumers and political conditions demand alternatives.