FutureLand Corp. (OTC:FUTL) recently filed an 8-K with the SEC announcing that the company is in the process of applying for Medical Marijuana Treatment Center license in the State of Florida. Under the new regulations that Florida voters enacted on November 8, 2016, Florida is accepting new applications for Medical Marijuana Treatment Centers. If FutureLand were to be approved for a license, it would be a major boon to investors given the potential market size of the Florida medical marijuana industry.
Related: Florida's MMJ Implementation Moves Forward
Medical Marijuana Treatment Centers are entities that are legally allowed to acquire, cultivate, possess, process (including development of cannabis products such as infused foods, tinctures, aerosols, oils, or ointments), transfer, transport, sell, distribute, dispense, or administer marijuana, products containing marijuana, related supplies, or educational materials to qualifying patients and caregivers. As you can probably assume based on the long list of approved functions under this license, it's pretty much a golden ticket.
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The legislation that Floridians passed in November paved the way for 10 more medical marijuana treatment centers that will be set to open on or by Oct. 3, 2017. When 100,000 new eligible patients are added to the patient registry, another license for MMTC will become available to apply for. The state will be opening the application period for Medical Marijuana Treatment Center sometime after July 2017. FutureLand expects to receive one (or more) of the available licenses in the coming month, if not, it will receive one with the expansion of the future licensing.
Related: Slideshow - All of the States w/ Legal Weed
FutureLand has been in discussion with potential partners around the State and the Country to begin the application process for the Medical Marijuana Treatment Center license in the State of Florida. FutureLand will partner immediately with its sister companies; HempTech Corp. (OTC:HTCO) for cultivation expertise and technology - CB Scientific Inc. (OTC:CBSC) for testing, extraction technology, formulation and delivery devices – and Biotica Pharmaceutical for medical research and discovery.
Related: HempTech is Changing Name and Business Model
Colorado and California may be the undisputed hubs for medical marijuana, but Florida could quickly catch up. With a population of over 20 million people, Florida has nearly 4x as many people as Colorado. Be sure to subscribe to one or more of our free e-mail newsletters so you never miss an important cannabis update. Also, don't forget to connect with The Daily Marijuana Observer on social media via Facebook, Twitter, StockTwits, Pinterest, and Instagram.