Future Farm to Focus on Execution and Expansion of U.S. Hemp Operations
August 09 2019 - 5:00PM
via NEWMEDIAWIRE -- Future Farm Technologies Inc. (the “Company” or
“Future Farm”) (
CSE: FFT) (
OTCQB:
FFRMF) is pleased to announce that, after careful
consideration and analysis, it will focus its resources on existing
business operations that are expected to meaningfully increase
revenue this fiscal year and in the future.
To that end, the Company’s robust expectations for its Maine
hemp-for-wellness operations have led it to decide that it will
focus on successfully growing its 2019 crop of hemp and extracting
CBD and other valuable materials from that crop. Future Farm will
sell those materials to manufacturers of consumer CBD
products.
Future Farm will continue to pursue licenses to grow cannabis
for research and development in Canada in partnership with Rahan
Meristem. The Company will discontinue projects related to
marijuana in the United States in order to enhance its access to
capital and simplify other aspects of business operations such as
banking and tax planning. As an initial step in this effort, Future
Farm has sold its interest in FFPR, LLC, the company developing
dispensaries in Puerto Rico, back to its local partner in that
effort, Clinica Verde.
“With the hemp crop on our 100-acre farm in Maine thriving, it
became very clear that we should focus the bulk of our resources on
executing a successful harvest and on an already very active sales
effort,” comments William Gildea, CEO of Future Farm. “We are
confident that this focused approach will accelerate revenue growth
and profitability.”
For further information, contact Investor Relations at
investor@FutureFarmTech.com.
On behalf of the Board,
Future Farm Technologies Inc.
William Gildea, CEO & Chairman
About Future Farm Technologies Inc.
Future Farm Technologies is a Canadian public company that is
poised to be a leading supplier of hemp-derived CBD products to
meet the burgeoning demand in the U.S. and global markets. The
Company’s current key initiatives are the cultivation and
processing of its hemp crop growing in Maine, the pursuit of other
hemp-related opportunities throughout the U.S. and the development
of elite strains of cannabis in Canada.
Future Farm’s seasoned management team brings a deep
understanding of operations and agriculture with the financial and
regulatory expertise needed to become an industry leader in the
evolving market for CBD and related compounds.
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.
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 be successful in its efforts to
further develop its existing hemp operations, or that the Company
will be able to raise sufficient capital to execute on its intended
business plan and objectives. 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.
Investor Relations
888-387-3761 x10
investor@futurefarmtech.com
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