Vancouver, British Columbia, June 20, 2018 -- /D.M.O. Newswire/ -- Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE:FFT) (OTC:FFRMF) is pleased to announce that the formal process for completing the distribution of 11,000,000 common shares of NexTech AR Solutions Corp. (“NexTech”) to the shareholders of Future Farm (the “Future Farm Shareholders”) on a pro-rata basis is now under way. The process began with the filing last week of a Notice of Meeting and Record Date for an Annual General and Special Meeting to take place on July 26, 2018. That notice is available on the CSE.
The distribution of the NexTech common shares is to be completed pursuant to a court-approved Plan of Arrangement. The next step in the process is the application for an Interim Order from the British Columbia Supreme Court. The application for the Interim Order was filed yesterday and is set for a court hearing on June 21. Upon receipt of the Interim Order the Company will proceed to mail to the Future Farm Shareholders a proxy circular disclosing detailed information on the business of NexTech.
If the Arrangement is completed, Future Farm Shareholders will receive a total of 11 million common shares of NexTech while maintaining their current ownership interest in Future Farm. NexTech will apply to list its shares on the CSE following completion of the Arrangement.
NexTech will focus on the advancement and development of its revenue generating portfolio of gaming and all-in-one apps known as the “All-In-One-App Portfolio” using its augmented reality technology. NexTech has also expanded its augmented reality technology products and is working with a number of clients for the provision A/R enhanced marketing services including through its Native AR Platform and AR learning model.
The securities referenced in this news release have not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For further information, contact William Gildea, Director, at (888) 387-3761.
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. 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.