VANCOUVER, British Columbia, March 7, 2018 /PRNewswire/ -- Future Farm Technologies Inc. (the "Company" or "Future Farm") (CSE:FFT) (CSE: FFT.CN) (OTC:FFRMF), which has built a portfolio of projects across the United States and the Commonwealth of Puerto Rico, is pleased to announce that its Puerto Rico subsidiary has signed the first of five planned leases for its Clinica Verde branded Puerto Rico dispensaries. The Company expects to sign two more leases in the next thirty days with the additional two leases to follow soon after.
The Future Farm Clinica Verde branded dispensary is located in the Condado neighborhood of San Juan, one of the island's most highly trafficked areas.
"Now that we have identified a prime dispensary location and signed a lease we are excited to work on the build out," comments William Gildea, Chairman and CEO of Future Farm. "We look forward to providing clean cannabis to the island's patients and generating sales."
Future Farm continues to execute on its strategy of building a portfolio of valuable, revenue-generating assets in the fastest growing cannabis and hemp markets in North America. Mr. Gildea continues, "I look forward to building out and adding to our existing portfolio, which has grown quickly over the past year with assets in Rhode Island, Maine, California and Florida."
On behalf of the Board,
Future Farm Technologies Inc. William Gildea, Chairman & CEO
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, generates 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. As described in more detail above, the Company has decided to spin this asset off to its shareholders.
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.