The last month has been eventful and very significant for Future Farm Technologies (FFT: CSE) (AGSTF) and these developments further improves the company’s outlook and makes it a stock that investors need to watch.
This morning, Future Farm closed its previously announced definitive agreement to acquire 15-acres in Redland, Florida. The land acquired puts the company in a firm position to capitalize on Florida’s medical cannabis market since the land is in a county designated to legally cultivate, process and dispense medical cannabis.
Strengthens Management Team
Concurrent with this announcement, Future Farm announced the appointment of John Sweeney as its Chief Operating Officer. He will transition into this position from his current role as a consultant and his big pharma background and expertise will help the company capitalize on its current growth initiatives.
While serving as a consultant, Sweeney helped position the business firmly within the North American cannabis market through organic and inorganic growth initiatives. Going forward, he will play an important role in the next phase of the growth strategy.
Sweeney has 16 years of direct cGMP (current Good Manufacturing Practices) manufacturing experience at industry leading biotechnology companies including Pfizer, Wyeth, Genzyme and most recently as Vice President of Operations at Tilray, a licensed Canadian medical cannabis producer. Sweeney has extensive knowledge and experience in the requirements of regulated manufacturing for commercial and clinical products and served as liaison for auditing regulatory agencies including the FDA and EMA.
An Improved Balance Sheet
Last month, Future Farm Technologies closed its previously announced private placement and this capital will enable the company to capitalize on previously announced growth opportunities.
Through organic and inorganic growth initiatives. Future Farm has positioned itself within several high-growth opportunities and we are favorable on the company’s execution over the last month.
We are favorable on today’s developments as well as the recent capital raise as it shows continued execution and follow through on previously announced initiatives. We expect to see the market respond favorably due to the closure of the acquisition and the ability John Sweeny has to execute on the business plan.