SEATTLE, WA--(Marketwired - Mar 23, 2017) - CFN Media Group ("CannabisFN"), the leading creative agency and digital media network dedicated to legal cannabis, announces the publication of an article discussing Future Farm Technologies Inc. (CSE: FFT) (OTCQB: FFRMF) and its recent move to build a presence in both Florida and California.
Future Farm has become an expert in developing cultivation and extraction technologies that produce greater yields than competing technologies.
By leveraging its existing patented grow technology portfolio, the company is capable of growing cannabis with a 10x greater yield than a traditional greenhouse and 100x greater yield than conventional farmland. The technology also uses 90% less water and fertilizer while avoiding the use of harmful pesticides and hydrocarbons. Its award winning COB LED grow light technology also greatly reduces electricity requirements by up to 50% to increase profit margins.
In addition to growing technologies, the company recently announced the acquisition of a high volume, state-of-the-art cannabis extraction machine. Management estimates that the machine is capable of generating up to $18,000 per hour in revenue by processing 20 pounds of cannabis every hour and extracting over 900 grams of cannabis oil. These oils are used for making edibles, topical ointments, shatter, and capsules which are higher margin products than cannabis flower and represent a fast growing and compelling long-term opportunity.
Building a Portfolio
Future Farm is an emerging leader in cannabis cultivation and extraction within fast-growing cannabis markets in Florida and California.
Future Farm recently acquired a 15-acre parcel of land in Redland, Florida -- a county that is designated to legally cultivate, process, and dispense cannabis and located near Miami -- and has a LOI to acquire a fully-operational 10-acre greenhouse located in Orlando which generates almost $3,000,000 in revenue and $500,000 in EBITDA. If fully-licensed, these properties could be developed into 25-acres of cannabis cultivation space. Florida's state regulators project that its cannabis market could exceed $1.8 billion in size by 2020.
In addition to its activities in Florida, the company recently announced that its FFM Consulting Services LLC subsidiary entered into a management agreement with a California non-profit that has secured a sublicense to legally manufacture cannabis oil using a non-volatile method. The company expects to be fully operational in the next 90 days and will manage the non-profit's new state-of-the-art extraction facility as the group produces highly-pure cannabis concentrates to medical marijuana patients.
The company further announced that its FFM Consulting Services LLC subsidiary entered into a management agreement with a California non-profit that has secured a sublease for the purpose of cultivating premium grade cannabis in Riverside County, CA. The company will help the non-profit operate and expand within its 17,000 square foot cultivation facility that will be fully functional following the completion of facility modifications in three months.
Future Farm's expansion efforts are being managed by a highly-capable team with a strong track record of success in the cannabis industry.
John Sweeney was recently appointed to Chief Operating Officer with 16 years of direct cGMP manufacturing experience at leading biotech companies including Pfizer, Wyeth, Genzyme, and others. Before joining the company, Mr. Sweeney served as VP of Operations at Tilray -- a 60,000 square foot federally licensed Canadian medical cannabis operation located on Vancouver island -- where has was instrumental in implementing production systems.
Chairman & CEO William Gildea has over 20 years of experience transforming environmental concerns into environmental and business opportunities. Before starting the company, he was a pioneer in the field of environmental insurance with a strong track-record of building businesses through effective finance and investment strategies. He has also held senior positions at Connecticut Bank & Trust and Phoenix Investment Counsel.
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