Tickers: XCNQ:FFT, PINX:FFRMF
Tags: Medicinal Marijuana
August 21, 2018 / TheNewswire / Vancouver, British Columbia - Future Farm Technologies Inc. (the "Company" or "Future Farm") (CSE: FFT) (OTCQX: FFRMF) announces that its Florida subsidiary, White Sand Nurseries ("WSN") has hired Jose Sikaffy as Director of Cultivation in preparation for entering the Florida medical cannabis business. Mr. Sikaffy graduated from Valencia College in Orlando and holds a degree in plant science and agriculture technology. He was most recently employed as Cultivation Director of Remeny/Tredwell Nursery, a Florida licensed medical cannabis facility in Eustis.
"Mr. Sikaffy has a proven track record of successfully growing cannabis in Florida's unique climate, and we are excited to have him on our team as we prepare our Florida cannabis application and facility plans," said William Gildea, CEO of Future Farm. "His knowledge and use of the latest agriculture technology fits with Future Farm's vision, and we share a commitment to producing the highest quality medical cannabis for Florida patients."
In January 2018, the Company acquired WSN to position itself in the fast-growing Florida cannabis market, which is expected to be the second largest market after California, with more than 100,000 registered medical cannabis patients and projected annual sales of US$1.6 billion in 2020, according to the Arcview Group. The WSN greenhouse fits the state's stringent criteria and designated zoning to legally cultivate, process, and dispense cannabis.
The Company continues to operate the WSN greenhouse in full production while it applies for a cannabis cultivation license from the State of Florida. Pending license approval, the Company plans to upgrade the existing facility in preparation for cannabis production. The Company is also exploring the possibility of growing hemp on farmland acquired as part of the WSN transaction.
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.
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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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