Future Farm Technologies Inc.

(CSE: FFT.CN) (OTCQB: FFRMF)

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FUTURE FARM MAINE PREPARES FOR SEED SALES

Large inventory of elite Cherry Wine seeds for CBD-producing hemp soon to be available for purchase

 

February 7, 2019 – Vancouver, British Columbia – As it prepares to begin selling its inventory of Cherry Wine hemp seeds for CBD-producing hemp, Future Farm Technologies Inc. (CSE: FFT) (OTCQB: FFRMF) (the “Company” or “Future Farm”) is pleased to announce that its Maine subsidiary, Future Farm Maine, will soon be offering for sale its inventory of Cherry Wine hemp seeds for CBD-producing hemp.

 

Click here to view Future Farm Maine’s harvest video.

 

In 2018, Future Farm hand-selected the Cherry Wine seeds to be offered for sale from more than 50,000 hemp plants to allow purchasers of those seeds to maximize the success of their harvests of hemp. The Company expects the sales of those seeds during calendar 2019 to have a significant positive impact on both its revenue and bottom line, as compared to the current fiscal year, because the costs associated with producing those seeds are expected to be significantly less than the revenue that the sale of the seeds will generate. Future Farm is in the process of creating a website to support its seed sales effort, but in the meantime inquiries can be sent to sales@futurefarmtech.com.

 

As these efforts advance in Maine, the Company’s lab in Belfast is up and running, collecting data to enable the Company to refine procedures as needed and begin sales of CBD distillate in the near future. In March, Zachary Lapan, Manager of the Company’s Maine cultivation and processing operations, along with George Groccia, Future Farm’s organizational and operational manager, will share their experience working on the Maine farm as speakers at the 2019 New England Cannabis Convention in Boston.

 

For further information, contact Investor Relations at investor@futurefarmtech.com or (888) 387-3761 Ext. 710.

 

On behalf of the Board,

Future Farm Technologies Inc.

William Gildea, Chairman and CEO

 

About Future Farm Technologies Inc.

 

Future Farm is a Canadian company with holdings throughout North America including California, Massachusetts, Florida, Maine, Puerto Rico and Newfoundland. The Company’s mission is to advance sustainable agriculture through production of wholesale and retail cannabis products, including hemp. As a leader in its field, Future Farm is committed to using only the highest quality processes and products. Towards this goal, the Company acquires or partners with licensed cannabis operators, and acquires or develops leading technologies in cannabis production, breeding, genetics, and Controlled Environment Agriculture (CEA). Future Farm’s scalable, indoor CEA systems utilize minimal land, water and energy resources. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generates yields up to 10 times greater per square foot of land.

 

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

 

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking.  Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements.  Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.  There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.  We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

 

Source:  Future Farm Technologies Inc.

Future Farm to Expand Ownership in Puerto Rico Dispensaries

Company to increase interest in Puerto Rican subsidiary as product demand soars on the island

 

Vancouver, British Columbia, Feb. 05, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE: FFT) (OTCQB: FFRMF) is pleased to announce that it has reached an agreement with its Puerto Rico partner, TCG Investments, LLC (“TCG”), owner of the “Clínica Verde” brand of medical cannabis dispensaries, to expand its ownership interest in its Puerto Rico subsidiary, FFPR, LLC (“FFPR”). Future Farm and TCG intend to purchase their former business partner’s interest, resulting in Future Farm owning a 50% ownership interest and 60% economic interest. Future Farm previously held a 40% ownership interest and 50% economic interest in FFPR.

 

Future Farm’s expanded interest in FFPR comes at a time of tremendous growth for the medical marijuana industry in Puerto Rico. More than a year after the island was devastated by Hurricane Maria, which created millions of dollars in damage for medical marijuana businesses alone, the island now has over 100 licensed medical marijuana businesses in operation to serve its more than 56,000 patients.

 

“TCG is proud to partner with Future Farm to execute this joint venture,” says Christopher Foster, CFO of TCG. “Our success to this date is a result of careful planning and strategic growth. These new dispensaries will help us continue executing our strategy and benefit from Future Farm’s expertise and resources.”

 

“Puerto Rico is a strategic location for Future Farm expansion given its soaring patient population and increasing social acceptance of medical cannabis,” added William Gildea, CEO of Future Farm. “We are excited to continue building out the Clinica Verde dispensaries to provide legal, quality flower, edibles and concentrates to patients residing on and visiting Puerto Rico at this time of island-wide restoration and growth.”

 

As previously announced, FFPR will open five dispensaries on the island by 2019’s end. FFPR’s contractor is putting the finishing touches on its first two dispensaries, which are expected to open in mid to late March, pending receipt of final inspections and licensure from Puerto Rico’s Board of Health. The first dispensary will be in Condado, a premier tourist area, and the second will be on University Avenue near the University of Puerto Rico Rio Piedras, the largest university on the island and one of the largest in the Caribbean basin. Upon completion, each location will begin providing valuable healthcare alternatives to residents and tourists, with plans to expand services to include door-to-door delivery. Both locations will feature ample parking, perhaps one of the most valuable amenities for a dispensary on the island.

 

Subject to the terms and conditions of the Purchase Agreement, at the Closing, FFPR’s partner shall sell, assign, and transfer to Future Farm and TCG 36 units of participation of FFPR, free and clear of all adverse interests or other claims, at a price of $833.33 per unit of participation amounting to $30,000.00. The parties have agreed to purchase the units as follows: Future Farm to purchase 12 units for USD$10,000; and TCG to purchase 24 units for USD$20,000.

 

For further information, contact Investor Relations at investor@FutureFarmTech.com. 

 

On behalf of the Board,

Future Farm Technologies Inc.

William Gildea, CEO & Chairman

 

About Future Farm Technologies Inc. 

Future Farm is a Canadian company with holdings throughout North America including California, Massachusetts, Florida, Maine, Puerto Rico and Newfoundland. The Company’s mission is to advance sustainable agriculture through production of wholesale and retail cannabis products, including hemp. As a leader in its field, Future Farm is committed to using only the highest quality processes and products. Towards this goal, the Company acquires or partners with licensed cannabis operators, and acquires or develops leading technologies in cannabis production, breeding, genetics, and Controlled Environment Agriculture (CEA). Future Farm’s scalable, indoor CEA systems utilize minimal land, water and energy resources. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generates yields up to 10 times greater per square foot of land.

 

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

 

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. There is no guarantee that the Company will complete the Arrangement, or if completed, will be listed on a stock exchange. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.

 

Investor Relations
888-387-3761
investor@futurefarmtech.com

Source: Future Farm Technologies Inc.

About Future Farm Technologies

Future Farm Technologies (FFT) is a publicly traded Canadian company that acquires and develops a diversified portfolio of projects in the cannabis and agricultural technology sectors. We are savvy decision makers with integrity, compassion and a fervent devotion to compliance behind every move we execute on behalf of our partners, investors and consumers.

 

It is FFT’s mission to develop and supply cutting-edge technological solutions that produce high quality products for customers and positive returns for investors while maintaining a collaborative corporate culture based on compliance, integrity and efficient execution.

 

Focused on Four Key Market Segments

 

>> Cultivation
Recreational Marijuana =
legal in 10 states

Medical Marijuana =
legal in 33 states + DC, PR
___
Est. $57 billion by 2027

 

>> Processing, Breeding & Genetics
Breeding and mass production
of elite clones of cannabis
for medicinal and
commercial purposes

 

>> Retail
Meeting market demand for an elevated consumer experience
___

Cannabis market to grow at an
Est. CAGR of 34.6%
through 2025

 

>> Technology
App Annie says mobile apps will be a
$101 billion industry
by 2020

 

Future Farm Technologies Inc. (FFT) is rapidly becoming a leading indoor plant growth technology company specializing in LED lighting and vertical farming solutions.

 

Future Farm’s business model includes developing and acquiring technologies that will further its position as a leader in the evolving Controlled Environment Agriculture (CEA) market for the global production of various types of plants. The Company holds a worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.

 

Meet The Management Team

 

William Gildea, Chairman & CEO

 

Mr. Gildea is the Founder and President of ECAP, LLC, a boutique investment firm committed to transforming environmental concerns into environmental and business opportunities. With over 20 years of experience, he is recognized as a pioneer in the field of environmental insurance and has a strong track record of successfully advancing environmental businesses and projects through effective finance and investment strategies. Mr. Gildea is also a Founder of Converted Organics Inc., a publicly traded company that utilizes a clean technology to manufacture organic fertilizer. Before founding ECAP, Mr. Gildea held senior positions at Connecticut Bank & Trust and Phoenix Investment Counsel. He was also a Founder and Managing Director of Environmental Warranty. Mr. Gildea holds an MBA from Rensselaer Polytechnic Institute.

 

Craig Stanley, Director

 

Mr. Stanley is CEO of CBO Financial, Inc., which he founded in 1999 as a financial consulting firm that aids mission driven organizations in the development and financing of projects that revitalize distressed communities. Since then Mr. Stanley and CBO have facilitated investment of $850 million in flexible, below market financing to help transform low income communities and the lives of people who call them home. CBO has received six awards totaling $150M from the U.S. Treasury Department under the New Markets Tax Credit program, in addition to securing 11 additional awards for clients totaling $378M. CBO is headquartered in Columbia, Maryland and serves a nationwide service area including Puerto Rico and Guam.

 

John Sweeney, Director & COO

 

Mr. Sweeney brings with him 16 years of direct cGMP (current Good Manufacturing Practices) manufacturing experience in operations of industry leading biotechnology companies including Pfizer, Wyeth, Genzyme and most recently as Vice President of Operations at Tilray, a 60,000 square foot federally licensed Canadian medical cannabis operation on Vancouver Island. He has extensive knowledge and experience in the requirements of regulated manufacturing for commercial and clinical products and served as liaison for auditing regulatory agencies including the FDA and EMA. Mr. Sweeney holds an MS in Engineering Management from Tufts University in Medford, MA and a BS in Biology from the University of New Hampshire, Durham.

 

Scott McDermid

 

Mr. McDermid is a Vancouver Real Estate Investor. Scott has an extensive network of real estate investors who own facilities ready to convert lighting to LED.

 

Source:  https://futurefarmtech.com/

Disclaimer

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This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.

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