Ron Strider
Well-Known Member
VANCOUVER, BC - November 15, 2017 - Future Farm Technologies Inc. (the "Company" or "Future Farm") (CSE: FFT) (OTCQB: FFRMF) is pleased to announce the closing date of November 28, 2017 for its previously announced acquisition of a 120-acre industrial hemp farm in Amity, ME. With this acquisition, Future Farm is now strategically positioned in both the fast-growing hemp market as well as the cannabis market.
The Company is also actively looking for additional land in Maine on which it may grow hemp, in addition to the aforementioned 120-acres. Future Farm expects to harvest 1,700 plants per acre of the 120-acre farm, which translates into approximately 10 kilos of CBD distillate per acre. Current prices for CBD products vary, but the majority of CBD products fall within the $9-12 per gram range. With 120-acres under contract, and with the possibility of acquiring additional farmland, Future Farm is anticipating a significant increase in 2018 revenue from CBD oil sales.
"This is a strategic acquisition for us as we look to leverage our oil extraction techniques into the CBD business," comments Bill Gildea, CEO of Future Farm. "We are pleased to be working with Derek Ross and his team of experienced growers, and we look forward to adding value by installing new state of the art CBD oil extraction equipment on-site to meet the exploding demand of CBD oil worldwide."
Derek Ross, CEO of Cannatech, comments, "I'm excited to grow this business with Future Farm. Partnering with a public company allows us to scale this business faster by enabling us to process large amounts of hemp flower into highly pure CBD concentrates." Mr. Ross continues, "We are actively looking for more land to acquire so that we may rapidly scale production as the market demand for CBD oil continues to expand."
The total domestic value of hemp retail products sold in 2015 was $573 million, according to the Hemp Industries Association. In addition, the U.S. annually imports $500 million of hemp and hemp-related products. The nutraceutical active ingredient global market is $20 billion per year, while the pharmaceutical active ingredient global market is $13 billion per year.
For further information, contact William Gildea, CEO and Chairman, at 617.834.9467.
On behalf of the Board,
Future Farm Technologies Inc.
William Gildea, CEO & Chairman
About Future Farm
Future Farm Technologies Inc. is a Canadian company with projects throughout North America including California, Florida and Maryland. The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants, with a focus on cannabis. Future Farm provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, 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 90% less water, fertilizer and land used, less travel costs, seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability. The Company also utilizes a leading cannabis oil extraction technology, which enables the Company to process 20lbs/hour of cannabis plant to yield approximately 908 grams/hour of oil.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com, which caters to B2B customers, is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com, which caters to both large and small agriculture green houses and controlled cultivation centers.
The Company recently acquired the exclusive right to use a patented, augmented reality (AR) technology in the cannabis industry. The Company will work with its partner to merge AR and ad-tech with the cannabis industry through the CannaCube Live platform.
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.
News Moderator: Ron Strider 420 MAGAZINE ®
Author: William Gildea
Contact: Contact Us | Future Farm Technologies
Website: Future Farm Tech | Indoor Growing Solutions & Technologies
Welcome to the 420 Press Release Forum, created as a service to our readers solely for the dissemination of cannabis and hemp industry related press releases.
It is important for us to state that all press release information published on 420Magazine.com is ONLY based on what companies and individuals (i.e. third parties not associated with 420 Magazine) publish themselves and doesn't involve any 420 Magazine's editorial opinion or review. 420 Magazine takes no responsibility for and disclaims the information available in form of press releases across our website.
Some press releases may be confusing at first reading without additional explanation. In such case you should contact the press release author, either the company or the individual listed as the contact on the press release itself, with any additional questions regarding the information presented on their press release.
420 Magazine has zero tolerance towards objectionable and controversial PR materials published on its website. Any PR material found to be involved into a dispute, in one way or another, and is having one or more complaints received at 420 Magazine, against it supported with enough evidences that clearly indicate, in one way or another, it is harmful, even in a remote way, to the interest of 3rd parties is ground for taking the respective press release permanently down, without prior notice.
The Company is also actively looking for additional land in Maine on which it may grow hemp, in addition to the aforementioned 120-acres. Future Farm expects to harvest 1,700 plants per acre of the 120-acre farm, which translates into approximately 10 kilos of CBD distillate per acre. Current prices for CBD products vary, but the majority of CBD products fall within the $9-12 per gram range. With 120-acres under contract, and with the possibility of acquiring additional farmland, Future Farm is anticipating a significant increase in 2018 revenue from CBD oil sales.
"This is a strategic acquisition for us as we look to leverage our oil extraction techniques into the CBD business," comments Bill Gildea, CEO of Future Farm. "We are pleased to be working with Derek Ross and his team of experienced growers, and we look forward to adding value by installing new state of the art CBD oil extraction equipment on-site to meet the exploding demand of CBD oil worldwide."
Derek Ross, CEO of Cannatech, comments, "I'm excited to grow this business with Future Farm. Partnering with a public company allows us to scale this business faster by enabling us to process large amounts of hemp flower into highly pure CBD concentrates." Mr. Ross continues, "We are actively looking for more land to acquire so that we may rapidly scale production as the market demand for CBD oil continues to expand."
The total domestic value of hemp retail products sold in 2015 was $573 million, according to the Hemp Industries Association. In addition, the U.S. annually imports $500 million of hemp and hemp-related products. The nutraceutical active ingredient global market is $20 billion per year, while the pharmaceutical active ingredient global market is $13 billion per year.
For further information, contact William Gildea, CEO and Chairman, at 617.834.9467.
On behalf of the Board,
Future Farm Technologies Inc.
William Gildea, CEO & Chairman
About Future Farm
Future Farm Technologies Inc. is a Canadian company with projects throughout North America including California, Florida and Maryland. The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants, with a focus on cannabis. Future Farm provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, 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 90% less water, fertilizer and land used, less travel costs, seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability. The Company also utilizes a leading cannabis oil extraction technology, which enables the Company to process 20lbs/hour of cannabis plant to yield approximately 908 grams/hour of oil.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com, which caters to B2B customers, is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com, which caters to both large and small agriculture green houses and controlled cultivation centers.
The Company recently acquired the exclusive right to use a patented, augmented reality (AR) technology in the cannabis industry. The Company will work with its partner to merge AR and ad-tech with the cannabis industry through the CannaCube Live platform.
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.
News Moderator: Ron Strider 420 MAGAZINE ®
Author: William Gildea
Contact: Contact Us | Future Farm Technologies
Website: Future Farm Tech | Indoor Growing Solutions & Technologies
Welcome to the 420 Press Release Forum, created as a service to our readers solely for the dissemination of cannabis and hemp industry related press releases.
It is important for us to state that all press release information published on 420Magazine.com is ONLY based on what companies and individuals (i.e. third parties not associated with 420 Magazine) publish themselves and doesn't involve any 420 Magazine's editorial opinion or review. 420 Magazine takes no responsibility for and disclaims the information available in form of press releases across our website.
Some press releases may be confusing at first reading without additional explanation. In such case you should contact the press release author, either the company or the individual listed as the contact on the press release itself, with any additional questions regarding the information presented on their press release.
420 Magazine has zero tolerance towards objectionable and controversial PR materials published on its website. Any PR material found to be involved into a dispute, in one way or another, and is having one or more complaints received at 420 Magazine, against it supported with enough evidences that clearly indicate, in one way or another, it is harmful, even in a remote way, to the interest of 3rd parties is ground for taking the respective press release permanently down, without prior notice.
