Future Farm Hires RwE In Preparation For Spin Off Of New Augmented Reality Cannabis Company
December 07 2017 - 8:00AM
Future Farm Technologies Inc. (the “Company” or “Future Farm”)
(
CSE: FFT) (
OTCQB: FFRMF) is
pleased to announce that it has engaged RwE Growth Partners Inc. to
conduct a business valuation and fairness opinion on its recently
acquired augmented reality asset (see links to Augmented Reality
Presentation and Demo Video). The work is being done in
preparation for a stock dividend, which will be issued to
shareholders of record upon spin off that is expected to occur
within the next 120 days.
“We believe that in order to maximize shareholder value,
spinning off this asset is in the best interest of our
shareholders,” comments William Gildea, CEO of Future Farm. “Once
spun off, Future Farm’s shareholders will own shares in a new
company traded on the CSE, with a singular focus on bringing
augmented reality to the cannabis industry.”
The augmented reality market is set to grow substantially in the
near future as companies such as Apple, Google, Microsoft, and
Intel are now aggressively launching software and hardware to
support this dynamic and fast growing industry. Once the spin off
is complete, Future Farm shareholders will own shares in a newly
formed company occupying a valuable niche in the cannabis market
with augmented reality enhanced packaging as well as an ad-tech
driven platform for dispensaries.
For further information, contact William Gildea, Director, at
617.834.9467.
On behalf of the Board,
Future Farm Technologies
Inc.
William Gildea, CEO & Chairman
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.
Bill Gildea
6178349467
bill@FutureFarmTech.com
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