On November 4, 2015, Justin Braune resigned as the Chief Executive Officer and as the sole member of the Board of Directors of Agritek Holdings, Inc. The company expects that the reason for Mr. Braune's resignation was due to the March 17, 2014, land transaction announced by the company regarding 80 acres in Pueblo County, Colorado. Although there is no question that the company was a party to the land purchase, it recently was discovered by Mr. Braune that the second party to the land contract never filed the original quit claim deed on behalf of the company as stated. On October 26, 2015, Heather Bush notified the company that she is resigning as the company's Chief Financial Officer.

Ms. Bush was brought on as the replacement Chief Financial Officer by Mr. Braune. As of the date November 4, 2015, the company has not received any other written correspondence from Mr. Braune or Ms. Bush describing any disagreement he or she has with the company's operations, policies or practices. Mr. B. Michael Friedman will act as interim CEO, and sole member of the board, and shall serve until the 2016 annual meeting of stockholders and thereafter, until his respective successor is duly elected, qualified and practicable to replace Mr. Friedman.

Mr. Friedman was previously the company's CEO from 2009 until he was replaced by Mr. Braune in March 2015.