Agritek Holdings, Inc. (OTCPK:AGTK) entered into letter of intent to acquire licensed manufacturing operation in southern California on August 1, 2019. Agritek Holdings will fund the transaction of $5 million through a private banking partner. The transaction is subject to standard due diligence, definitive agreements and approval of the acquisition by the board of directors of Agritek Holdings. Agritek Holdings, Inc. (OTCPK:AGTK) cancelled the acquisition of licensed manufacturing operation in southern California on August 1, 2020.