Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE: FFT) (OTCQB: FFRMF) is pleased to announce that it has begun preparations for the propagation of its 2019 hemp-for-wellness crop in Belfast, Maine. The Company will be growing its Cherry Wine cultivar over 100 acres of farmland in Hersey, Maine, but is first propagating the plants indoors at the Belfast facility.
Future Farm expects to harvest over 120,000 pounds of biomass this season, with each plant producing approximately one pound of biomass. Planting on 100 acres requires a tremendous amount of planning to align labor, care for the plants at each stage, preparation of the field, and transplanting of the seedlings. Future Farm is planning to have the biomass from its Maine operations processed into full spectrum hemp oil, CBD distillate and CBD isolate for sale to manufacturers of products using those valuable ingredients. Building on its ongoing successful seed business, the Company projects that it will produce over two million hemp seeds in 2019, almost double the production of its 2018 inaugural season. This plan positions Future Farm to be among the largest suppliers of high-quality hemp seed in the Northeast United States.
“We have been focused on caring for the seeds we are about to grow since we harvested them in 2018 because they have outstanding genetics that provide high propagation rates and high CBD content,” comments Zachary Lapan, General Manager of Future Farm Maine. He continues, “It’s always exciting for me, as a farmer and a manager, to see that first sprout.”
For further information, contact William Gildea, Director, at (888) 387-3761.
On behalf of the Board,
Future Farm Technologies Inc.
William Gildea, 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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