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.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
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.
Search CannabisFN
Press Coverage
Psychedelics Index
Top Videos
Tim has over 22 years of investment experience as a portfolio manager, asset allocator, and capital markets professional across multiple asset classes, geographies, and platforms. Tim has built and operated two hedge funds, a broker dealer, and raised over $1Bn in capital for his combined businesses. Tim remains a recognized voice within the investment community […]
Tom Zuber is Zuber Lawler & Del Duca’s Managing Partner. He has a degree with highest honors in biomedical engineering and has advised some of the most iconic companies in the world on their patent and trademark portfolios. He is at the cutting edge of cannabis patent and trademark law. He holds degrees from Harvard University and Columbia Law […]
IONIC BRANDS is a national cannabis holdings company based in Washington, led by a team of successful entrepreneurs.
3Sixty is one of Canada’s leading security service providers to the cannabis sector.
Network Partners
About CFN Media Group
CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
Disclaimer: Matters discussed on this website 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. CFN Media Group, 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. CFN Media Group, 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. The Information contains forward-looking statements, i.e. statements or discussions that constitute predictions, expectations, beliefs, plans, estimates, or projections as indicated by such words as "expects", "will", "anticipates", and "estimates"; therefore, you should proceed with extreme caution in relying upon such statements and conduct a full investigation of the Information and the Profiled Issuer as well as any such forward-looking statements. Any forward looking statements we make in the Information are limited to the time period in which they are made, and we do not undertake to update forward looking statements that may change at any time; The Information is presented only as a brief "snapshot" of the Profiled Issuer and should only be used, at most, and if at all, as a starting point for you to conduct a thorough investigation of the Profiled Issuer and its securities and to consult your financial, legal or other adviser(s) and avail yourself of the filings and information that may be accessed at www.sec.gov, www.pinksheets.com, www.otcmarkets.com or other electronic sources, including: (a) reviewing SEC periodic reports (Forms 10-Q and 10-K), reports of material events (Form 8-K), insider reports (Forms 3, 4, 5 and Schedule 13D); (b) reviewing Information and Disclosure Statements and unaudited financial reports filed with the Pink Sheets or www.otcmarkets.com; (c) obtaining and reviewing publicly available information contained in commonlyknown search engines such as Google; and (d) consulting investment guides at www.sec.gov and www.finra.com. You should always be cognizant that the Profiled Issuers may not be current in their reporting obligations with the SEC and OTCMarkets and/or have negative signs at www.otcmarkets.com (See section below titled "Risks Related to the Profiled Issuers, which provides additional information pertaining thereto). For making specific investment decisions, readers should seek their own advice and that of their own professional advisers. CFN Media Group, 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: https://www.cannabisfn.com/legal-disclaimer/. A short time after we acquire the securities of the foregoing company, we may publish the (favorable) information about the issuer referenced above advising others, including you, to purchase; and while doing so, we may sell the securities we acquired. In addition, a third-party shareholder compensating us may sell his or her shares of the issuer while we are publishing favorable information about the issuer. 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. CFN Media Group, 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. CFN Media Group, 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. CFN Media Group, 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: https://www.cannabisfn.com/legal-disclaimer/.
Copyright © Accelerize Inc. · All Rights Reserved · Privacy Policy · Legal Disclaimer
