Future Farm Entering Second-Largest Cannabis Market in U.S.

Ryan Allway

January 10th, 2018

Exclusive, News, Top News

In 2016, Florida voters approved a massive expansion of the state’s medical marijuana system. As a result, Florida’s medical marijuana market is now expected to top $1.5 billion annually by the year 2020. The nation’s third most populous state, with a high percentage of elderly residents who are more likely than other age groups to seek medical marijuana as treatment for a variety of common ailments, is struggling to keep up with the greatly increased demand for doctors’ licenses and medical marijuana cards.

Future Farm Technologies Inc. (CSE: FFT) (OTCQB: FFRMF) recently announced a major move into the market, further diversifying an impressive portfolio of business initiatives across several different geological markets and industry verticals. In this article we will take a look at the company’s acquisition, and how Future Farm’s move into Florida could greatly benefit the company both immediately and over the longer term.

New Greenhouse

Future Farm Technologies recently closed on its previously announced acquisition of a 10-acre operating greenhouse in Florida. The greenhouse is located in a designated legal grow zone near Orlando, which has a population of nearly 2.5 million and attracts over 62 million visitors each year. Management plans to run the greenhouse as-is for now, adding to Future Farm’s current revenue streams while the company applies for a cannabis cultivation permit.

In 2017, the greenhouse generated an estimated $2.8 million in revenue and $400,000 in EBITDA. The property, and the greenhouse, have already been approved at the county level for the cultivation and processing of cannabis, which positions it for significant near-term revenue potential. Management plans to explore the possibility of growing hemp on the remaining acreage of farmland outside of the greenhouse facility down the road. Future Farm also has an option to lease an adjacent 10-acre parcel for use as a hemp farm.

Beyond the Florida acquisition, Future Farm has a fully operational 120 acre hemp farm in Maine, along with a new lease on a nearby 100 acre site. The company also has an option to lease up to an additional 1,000 acres. Developing these additional properties into hemp farms would turn Future Farm into one of the largest hemp suppliers in the country, giving the company the raw material it needs to feed its proprietary extraction technology and create large volumes of high quality CBD extracts. These extracts can be used alone or incorporated into a variety of personal care and nutraceutical products that are increasingly in demand.

Future Farm recently partnered with one of the world’s leading agro-biotechnology companies, Rahan Meristem Ltd., to create and clone hemp plants that can be used in these farms. The goal is to cultivate and extract cannabinoids that can be used in the burgeoning medical cannabis industry through partnerships and its proprietary extraction technologies that have been developed in-house over the past several years.

Financing in Place

Future Farm Technologies plans to finance its growth plans with $4 million raised in a private placement, announcing the closing at the same time as the greenhouse acquisition. The move helps shore up the company’s balance sheet with cash as it looks to execute its ambitious business plans. As of August 31, 2017, the company had $4.1 million in total assets and $1.4 million in liabilities ahead of its commercialization phase moving into the new year and beyond.

In a recent press release, Future Farm provided an update on all of its initiatives. In addition to the aforementioned operations in Florida and Maine, the company is involved in legal markets in California, Rhode Island and Puerto Rico. Future Farm also sells state-of-the-art lighting systems for indoor grow operations through its LED Canada division and is preparing to spin off its cannabis-focused augmented reality company.

Looking Ahead

Future Farm Technologies Inc. (CSE: FFT) (OTCQB: FFRMF) represents a compelling opportunity in the burgeoning cannabis industry. With its recent entry into the explosive Florida medical marijuana market the company has gained a strategic foothold that could act as a springboard as the market matures. Future Farm is diversified across geographical markets and industry verticals, making the company one to watch over the coming quarters.

For more information, visit the company’s website at www.futurefarmtech.com or download its investor presentation.

Ryan Allway

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

Network Partners

Follow Us on Social Media

About CFN Media

CFN Media (CannabisFN) is the leading creative agency and media network dedicated to legal cannabis. We help marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.

CFN launched in June of 2013 to initially serve the growing universe of publicly traded marijuana companies across North America. Today, CFN Media is also the digital media choice for the emerging brands in the space.

Learn How Your Company can Be Covered on CFN Media

Learn More About the CFN Media Sponsored Content Program

CannabisFN.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.cannabisfn.com (the ‘Site’) is either original financial news or paid advertisements drafted by our in house team or provided by an affiliate. CannabisFN.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. CannabisFN.com received fees for producing and presenting high quality and sophisticated content on CannabisFN.com along with financial and corporate news.

Disclaimer: Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. Emerging Growth LLC dba TDM Financial, which owns CannabisFN, may be compensated for its Services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/.

Copyright © TDM Financial LLC · All Rights Reserved · Privacy Policy · Legal Disclaimer