Agritek Holdings, Inc. (OTCPK:AGTK) entered into a binding letter of intent to acquire Substantially all of the assets of Apex Solutions Inc. on August 8, 2019. It is anticipated that Agritek Holdings will pay consideration consisting of both equity and cash as outlined within the share exchange and definitive agreements expected to be completed by the parties by the end of the month. The agreements are expected to include virtually all of the tangible and intangible assets of the Business of Apex. The transaction, which will comprise of equity and financing of minimal $2 million in funding to Apex Extractions as per the definitive agreement to be executed by the parties. After the close of acquisition, the Apex Solutions team will be integrated into the Agritek Holdings team and into a new Board of Directors. Suneil Singh Mundie will resign as Chief Executive Officer of Agritek Holdings with Scott Benson, Chief Executive Officer of Apex, coming on as Agritek’s new Chief Executive Officer. The acquisition is subject to the completion of standard due diligence and majority shareholder approval,the definitive agreement and asset acquisition is subject to the standard due diligence process and compliance for transactions approved for trading by OTC Markets. As of January 22, 2020, the transaction is expected to close in February 2020. Agritek Holdings, Inc. (OTCPK:AGTK) cancelled the acquisition of Substantially all of the assets of Apex Solutions Inc. on January 22, 2020. Agritek was unable to come to definitive terms regarding financing the Apex distribution division requested by Benson to support debt on the books of the Agritek for a complete acquisition.