Future Farm Leases Providence, Rhode Island Building to Provisional Licensee
January 31 2019 - 8:00AM
via NEWMEDIAWIRE -- Future Farm Technologies Inc. (the “Company” or
“Future Farm”) (
CSE: FFT) (
OTCQB:
FFRMF) is pleased to announce that it has entered a lease
for its building located at 115 Harris Avenue in Providence, Rhode
Island (“the Property”) to Herask Associates, LLC (“Herask”).
Herask has been issued a provisional license to cultivate medical
marijuana from the Rhode Island Department of Business Regulations
(“DBR”) and was recently granted an extension to complete
renovations and controlled environment agriculture (CEA)
installation at the Property.
Herask and Future Farm have signed a five-year lease for the
15,000-square-foot building where Herask will house its cultivation
and processing operation. Upon completion and final licensure by
the DBR, the facility will provide high-quality, wholesale cannabis
and cannabis-related products to Rhode Island’s state-sanctioned
medical marijuana dispensaries.
The extension requires all renovations and
installation to be completed by July 31, 2019. Herask has signed an
agreement with local contractor Green Development to complete the
work.
“We have been in discussions with Herask for quite
some time and are excited to finally be able to call them our
partners in Rhode Island,” states William Gildea, Future Farm’s
CEO. “Now that they have received the extension from the DBR and
enlisted Green Development as their general contractor, we are
confident that Herask will be the cannabis supplier of choice
within the state.”
For further information, contact William Gildea,
Director, at (888) 387-3761.
On behalf of the Board,
Future Farm Technologies
Inc.
William Gildea, Chairman & 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.
Investor Relations
888-387-3761
INVESTOR@FUTUREFARMTECH.COM
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