Miami-based hemp and cannabis products distributor Agritek Holdings Inc. said Aug. 8 that it will wholly acquire cannabis retailer Apex Solutions Inc.
Financial details of the transaction were not disclosed.
Apex Solutions produces a variety of cannabis products including Cali Stick concentrates, Pinnacle vape pens and other proprietary cartridge brands.
Upon completion of the transaction, Apex and Agritek will form a new board of directors with Apex CEO Scott Benson expected to replace Suneil Singh Mundie as Agritek's new CEO.
The transaction is expected to close by the end of this month, subject to the completion of standard due diligence and majority shareholder approval.