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Marijuana

Future Farm Technologies Inc (OTCMKTS:FFRMF) Kicks Off The Next Production Stage Of CBD-Rich Hemp

Future Farm Technologies Inc (OTCMKTS:FFRMF) revealed a few days ago that it has already started transplanting its Cherry Wine young hemp plants as part of the next stage of producing hemp rich in CBD.

The transplantation process will shift the Cherry Wine hemp seedlings from the propagation facility located in Belfast, Maine to the growing fields at Future Farm Technologies’ Hersey, Maine farm. The company has already sown the seedlings on half of its growing space. The firm is currently running at full capacity and is already performing well-beyond the preparations that it made in 2018.

Future Farm Technologies’ transplant target by June 25 was roughly 200,000 plants. The timeline will allow the plans to receive maximum sunlight hours for optimal flowering and CBD development. The company is also offering benefits to the communities that live around its farm by providing full-time employment. So far it has employed 15 individuals on a full-time basis.

“Our success would not be possible without the support of government officials, local employees and the fine craftsmen and women of Maine,” stated Future Firm’s Projects and Operations Manager George Groccia.

Future Farms is pleased with worker efficiency and production timeline

Groccia also noted that he was impressed by the efficiency that the team of workers has been demonstrating. Judging by current observations, the company has healthy plans that will provide value through CBD-rich production. Its production particularly targets the hemp-for-wellness market in the northeast region.

Future Farms also revealed that its representatives were present at the Hemp Industry Daily Conference which was held in New Orleans, Louisiana a few days ago. Their attendance at the event was aimed at promoting the company in line with the development of a strong sales pipeline. These plans and actions have been made to make sure that the 2019 harvests reach the market as fast as possible.

The company expects a strong harvest towards the end of the summer season and the early days of autumn. It is also optimistic about the market especially now that hemp and CBD products are gaining popularity, which means that the demand for CBD-based products is rapidly growing.

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Marijuana

Future Farm Technologies Inc (OTCMKTS:FFRMF) Signs Lease For Rhode Island Building

Future Farm Technologies Inc (OTCMKTS:FFRMF) closed Wednesday’s trading session at $0.1, a month after it announced the signing of a lease for a property at 115 Harris Avenue, Providence, Rhode Island.

The company received a provisional license from the Rhode Island Department of Business Regulations (DBR) allowing it to cultivate marijuana. The provisional license will allow it to carry out a controlled development and also finalize renovations at the Providence building. Future Farm entered a five-year lease deal agreement with Herask for the building whose size is 15,000-square-foot. The company will use the property to house its cultivation and processing activities.

Once the DBR finalizes the licensing process, the company will be able to use the facility to provide the market with high-quality cannabis as well as cannabis-related products. These will then be distributed to marijuana dispensaries located in Rhode Island that have been sanctioned by the state.

“We have been in discussions with Herask for quite some time and are excited to finally be able to call them our partners in Rhode Island,” stated Future Farms CEO William Gildea.

Gildea also noted that the company has also received the DBR extension and that it has also selected Green Development as its general contractor. The firm is also confident in Herask’s capacity to be the ideal cannabis supplier within the estate.

Future Farm to create a cannabis development lab in Carpinteria, California

Future Farm also announced towards the end of January 2019 that it is planning to construct a laboratory for cannabis development in Carpinteria, California. The company revealed at the time that had already entered the last construction planning stages. The facility will be one of Future Plans’ two jointly owned facilities that it is developing in partnership with a global agro-biotechnology firm called Rahan Meristem.

Future Farm will create the construction firm mainly so that it can focus on analytical work. The company also plans to recruit researchers and buy new equipment. Construction work is expected to be complete before the end of March 2019. The research team will focus on research related to various sectors such as computation, phenomic analysis, analytical chemistry, molecular genetics, and cell structure.

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Marijuana

Future Farm Technologies Inc (OTCMKTS:FFRMF)’s NexTech AR Solutions To Introduce Holographic Technology To Marijuana Market

Future Farm Technologies Inc (OTCMKTS:FFRMF) is planning to introduce Holographic Display Technology into the marijuana market. The company’s partially-owned subsidiary NexTech AR Solutions signed a worldwide exclusive license agreement for bringing the ARHT patented technology to the marijuana industry.

Future Farm to spin out NexTech shares on pro-rata basis

The company also announced that the Supreme Court of British Columbia has given a final approval to a plan of arrangement in between the shareholders of Nextech AR Solutions and Future Farm. As per the Plan of Arrangement, the company will spin-out 11,000,000 common shares of its subsidiary NexTech that has been transferred to Future Farms to the shareholders of Future Farm on the pro rata basis.

It indicates that the shareholders of Future Farm will own around 25.86% of the outstanding and issued common shares of the subsidiary company. The CEO of Future Farm, William Gildea said, “We are glad that the majority of our shareholders agreed with our plan to spin-out Nextech, and that the court issued its approval. Nextech occupies a valuable niche in the cannabis market, and now shareholders of Future Farm will enjoy its success as well.”

NexTech confident that the cannabis market ready for holographic technology

As per the latest report, the cannabis market in North America will grow to $47 billion by 2027. In 2017, the marijuana market in North America was $9.2 billion. Since the market is expected to grow massively in the years to come, NexTech is confident that the high-level holographic display technology is both ready and required to be deployed in the cannabis market.

The CEO of ARHT, Larry O’ Reily said that while the company is making great progress in the field of traditional retail, events, education, and entertainment industry, it also thinks that the marijuana market is providing a big opportunity to its technology. O’ Reily further added that they are excited to team up with NexTech and be a part of this new development.

The CEO of ARHT seemed confident that the telepresence technology and holographic displays of his company will serve as a natural fit for taking the marijuana retailing to entirely a new level.

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Marijuana

Future Farm Technologies Inc (OTCMKTS:FFRMF) Buys Ten Acres Operating Greenhouse In Florida

Future Farm Technologies Inc (OTCMKTS:FFRMF) has closed on the earlier reported ten acre operating greenhouse deal, which generated around $2.8 million in revenue and $400,000 in EBITDA for 2017. The deal price was $3 million or 1.07X revenue. The deal closing exhibits a major milestone for the firm as it offers substantial cash flow and revenue while positioning the firm in the buzzing Florida cannabis market.

The buzz

The business and related ten-acre property have been permitted at the county level for processing and cultivation of cannabis. William Gildea, the Chairman and CEO of Future Farm, expressed that this revenue-generating deal is a key milestone for company and its shareholders. Florida is one of the most populous states in the U.S. with 20.984 million residents. It is also one of the rapidly growing hemp and cannabis markets in the nation.

The greenhouse is in a planned legal grow zone with closeness to Orlando, which boasts a local population of nearly 2.5 million and attracts more than 62 million visitors yearly, making it a prime site. Shareholders will be thrilled to learn that the farm is quite more than a zoned for cannabis property, but also an entirely operational greenhouse already in full production. This greenhouse property presently cultivates ornamental plants offered in big-box outlets throughout North America.

Future Farm plans to continue running the greenhouse as it also files for licensing as a cannabis grower with Florida. The firm is also assessing the possibility of cultivating hemp on the remaining property of farmland. Brightfield Group report estimates that hemp cannabis offerings will record yearly sales of $1 billion by 2020. As part of this deal, the firm will compensate a finder fee of 6% to Atlas Capital Advisors, LLC. The firm cautioned that the above figures for earnings and revenue are projections only and are not audited.

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