Agritek Holdings secures USD400,000 cash infusion from PE fund
Agritek Holdings is to receive an estimated USD400,000 from its institutional partners and private equity fund based in Chicago this month.
The funds will be used to roll out and market the company's Mont Blunt brand of e-cigarettes and to cover initial infrastructure costs related to its agricultural greenhouse project based in Pueblo, Colorado.
"Our appearance at last week's First Annual Cannabis conference in Denver clearly raised awareness of our company and the Mont Blunt brand to the investment public and investors alike. We have already received the initial USD200,000 to our balance sheet as of last week and expect to receive the additional USD200,000 within the next three weeks. This infusion of capital is part of the USD1.5 million committed to the company in total that will enable us to aggressively move our marketing plan for our Mont Blunt products forward as well as begin initiating infrastructure plans and build out of our state of the art agricultural greenhouse project in Pueblo, Colorado," says B Michael Friedman, CEO of Agritek Holdings.
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