March 15, 2017
Future Farm Subsidiary to Manage Cannabis Cultivation Facility
Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE: FFT) (OTCQB: FFRMF) is pleased to announce that its majority owned subsidiary, FFM Consulting Services, LLC, a California limited liability company, has entered into a management agreement with a California non-profit company. The non-profit has secured a sublease for the purpose of cultivating premium grade cannabis in Riverside County, California. The cultivation facility will supply its high-quality cannabis to the previously announced extraction facility where it will be further processed into premium grade concentrates.
The Company expects to help the non-profit operate and expand within the 17,000-square foot state-of-the-art cultivation facility and that it will be fully functional following completion of facility modifications within three months, with the first harvest 90-days thereafter. The cultivation operation will implement the use of Future Farm’s CEA systems, including the Company’s patented vertical farming technology and COB LED grow lights, thereby positioning the non-profit to be able to produce high-grade and pure cannabis ideally suited for extraction. By using Future Farm’s proprietary vertical stacking technology for its clones, there will be more space to devote to the flowering room, which will increase the overall cannabis production capacity in the space.
California is the 6th largest economy in the world and according to ArcView Research the cannabis market in California is expected to reach US$6.5 billion by 2020.
“We’re thrilled to have reached another major milestone for our emerging company and excited to have the opportunity to manage this cultivation facility as it allows us to showcase our ability to expertly manage the production of consistent high-grade cannabis,” said Bill Gildea, CEO of Future Farm Technologies.
“This cultivation operation provides us with an important strategic advantage to control our supply of locally grown, high-grade raw material for our extraction operations and at the same time incorporate the use of Future Farm’s diversity of equipment, including vertical farming technologies and COB LED lighting solutions,” commented John Sweeney, COO of Future Farm Technologies.
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