Vancouver, British Columbia, Feb. 14, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE: FFT) (OTCQB: FFRMF) is pleased to announce that it has entered into a new lease with Haymart, LLC to grow CBD-producing hemp on the same 100-acre parcel which the Company leased from Haymart for its inaugural 2018 season.
The new lease covers the 2019 season and will also cover the 2020 and 2021 seasons, unless either the Company or Haymart opt out. Under the terms of the lease, Haymart will also provide farming services to Future Farm. Haymart has proven to be a key contributor to the success of Future Farm Maine and the Company is grateful for the willingness of Haymart to work creatively on the economic terms of the new lease. Future Farm and Haymart are also in discussions about working together in other aspects of the rapidly expanding market for CBD-producing hemp.
Future Farm is also pleased to announce that, with the new lease in place, it has completed its 2019 license applications for the cultivation of industrial hemp for its three Maine locations, and will submit those applications in the immediate future.
“Now is the time to make the investments and secure additional licensing so that Future Farm can continue to build on our early success in Maine,” says Zachary Lapan, manager of Future Farm Maine’s cultivation and processing operations. “Haymart, the State of Maine and the farming community around us have always been very collaborative, and we will continue working with them to expand our current footprint.”
Click here to view Future Farm’s Maine harvest video: https://www.youtube.com/channel/UCVmuRol13Qm7qlMQM2Kx77g/featured
For further information, contact Investor Relations at investor@futurefarmtech.com or (888) 387-3761 Ext. 710.
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. 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.
CONTACT: Investor Relations 888-387-3761 INVESTOR@FUTUREFARMTECH.COM