Future Farm Technologies Inc. (the “Company” or “Future Farm”) (FFT.CN) (FFT.CN) (FFRMF) is pleased to announce that FFPR LLC, its Puerto Rico joint venture with TCG Investments, LLC, owners of the Clinica Verde brand of medical cannabis dispensaries (“Clinica Verde”), is set to begin construction on the first two of five total medical marijuana dispensaries that FFPR plans to open on the island. Clinica Verde has contracted with Custom Group (http://customgrouppr.com), an experienced Puerto Rico-based contracting firm, to lead the construction. The five dispensaries will be operated under the Clinica Verde brand, which has already established itself as the leading medical cannabis dispensary operator in Puerto Rico.
Locations of the first two of five total medical marijuana dispensaries that FFPR plans to open in Puerto Rico.
The dispensaries are strategically located in the densely populated municipalities of Humacao, home to a large cluster of hospitals and medical professionals, and in the heart of the Condado district of San Juan, to provide easy access and care to the over 23,000 registered patients in Puerto Rico. Custom Group expects to begin construction of both sites simultaneously on April 25th and anticipates that the Humacao location will begin providing services for patients by mid-June.
The Humacao dispensary was fully functional and was the newest dispensary in the Clinica Verde brand until it was severely damaged by Hurricane Maria. Before the hurricane, Humacao showed great potential with consistent monthly sales gains.
“We’re very happy to announce our partnership with Custom Group for the redevelopment of the Humacao store,” states Ramón E. Ortiz, CEO of TCG Investments. “Humacao is a market with great potential. It’s home to large multinational corporations like Microsoft and Medtronic and to a world-class resort at Palmas del Mar. Hurricane María caused major damage to this area and we’re glad to announce that our new store will reopen stronger than ever and help improve the quality of life of Humacao’s hundreds of medical cannabis patients.”
About Future Farm
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 mass-market cannabis 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.