Vancouver, British Columbia, May 14, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE: FFT) (OTCQB: FFRMF) is pleased to announce that it has signed an agreement with Northeast Processing (“NEP”), a Vermont-based hemp processing company, to process, test and package all of the hemp grown by Future Farm on 100 acres in Maine in 2019.
NEP will have the capacity to process hemp biomass from Future Farm into top quality whole plant extract, CBD distillate and CBD isolate in less than four months. Future Farm is now actively building its pipeline of customers who need full spectrum extract, distillate or isolate as the key ingredient for health and wellness consumer products in the rapidly growing market for those goods. The agreement with NEP will allow Future Farm to provide its customers the premium ingredients they need quickly and cost-effectively.
Future Farm believes that NEP’s state-of-the-art facility in Brattleboro, combined with its experienced, sophisticated management team, are an outstanding addition to Future Farm’s plan to grow its hemp-for-wellness business significantly in 2019 and beyond.
“This is an exciting relationship for us to build on as we begin our 2019 season,” comments William Gildea, CEO of Future Farm. “This partnership with Northeast Processing allows for a scalable, efficient approach to processing, ensuring that our biomass receives the fastest, most reliable care the northeast has to offer. It also positions Future Farm, once again, as an innovator in the rapidly growing demand for the sophisticated hemp-for-wellness customer base.”
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.