VANCOUVER, British Columbia, May 22, 2018 /PRNewswire/ —
Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE: FFT) (OTCQX: FFRMF) is pleased to provide an update with respect to its planned Florida application to cultivate cannabis at its 10-acre operating greenhouse in Apopka.
Future Farm has retained the services of two strategic consultants, Michael Minardi and Brett Puffenbarger, to assist with its application to the Florida Department of Health. The goal is to submit the application after the newly released application form is made final. The Florida Department of Public Health has not stated when that will occur. There is a public hearing on the proposed new form scheduled for May 24, 2018.
Michael Minardi, Esq. is an experienced Florida cannabis law attorney. He has counseled other applicants who successfully received licenses. Attorney Minardi is the campaign manager of Regulate Florida, part of the NORML legal committee, and serves as a board member of The Silver Tour, Minorities 4 Medical Marijuana and The Florida Cannabis Action Network. He is also a board member and legal director of NORML Florida.
Brett Puffenbarger is a consultant to companies in the cannabis industry with extensive knowledge, contacts, and resources in all facets of the cannabis industry, from education to activism, extraction equipment to compliance. He is also a Marine Corps veteran. Mr. Puffenbarger has acted as General Manager of Florida’s first dispensary and has been trained in cannabis business operations and software such as Biotrack THC, LightShade, and CultureED. Mr. Puffenbarger founded The Cannabis Consort and Professor Cannabis in order to provide patients, doctors, dispensaries and secondary market companies with the most up to date and easy to understand information regarding all aspects of the cannabis industry.
“Our team already had a good start to the application, but we are excited to have the guidance and local expertise that Mike and Brett bring to our efforts,” states Bill Gildea, Future Farm’s CEO.
Florida now has over 100,000 registered medical cannabis patients. The Florida Office of Medical Marijuana Use is currently processing over 2,000 applications per week and it is expected that the number will continue to grow significantly over the next few years. Much of that projected growth is believed to be due to the large number of retirees residing in Florida. Analysts have also predicted that the Florida cannabis market will grow to be second largest in the United States after California, which in the last quarter of 2017 represented 34% percent of legal cannabis sales in the US. Combined legal cannabis sales for Colorado, Washington and Oregon in the same period were 41% of the US total.
While it prepares to file the application, Future Farm continues to operate and develop its 10-acre greenhouse in Apopka, Florida, which sells ornamental flowers to large retailers nationwide. The greenhouse is in a designated legal grow zone with proximity to Orlando, which has a local population of almost 2.5 million and attracts over 62 million visitors annually, making it a prime location.
On behalf of the Board,
Future Farm Technologies Inc.
William Gildea, Chairman and 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.
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SOURCE Future Farm Technologies Inc.