Business
Future Farm Acquires Stake in Five Cannabis Dispensary Licenses in Puerto Rico
Future Farm Acquires Stake in Five Cannabis Dispensary Licenses in Puerto Rico.
About this update from Future Farm Technologies Inc
[{"type":"text","content":"\n\n Vancouver, British Columbia, Feb. 08, 2018 (GLOBE NEWSWIRE) -- Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE:FFT) (OTCQB:FFRMF) is pleased to announce that is has closed on the previously announced joint venture between Future Farm and TCG Investments, LLC, owners of the Clinica Verde brand of medical cannabis dispensaries (“Clinica Verde”). Future Farm has purchased a 40% ownership interest and a 50% economic interest in FFPR, LLC, a Puerto Rican limited liability company, which holds five pre-qualifications for medical dispensary licenses (the “Licenses”). The five medical cannabis dispensaries in Puerto Rico will be operated under the Clinica Verde brand, which has already established itself as the leading medical cannabis dispensary operator in Puerto Rico. Currently, Clinica Verde has five operating dispensaries and with this partnership the brand will have ten in total.\n Link To Clinica Verde Dispensaries:  Clinica Verde Homepage Future Farm is investing and partnering with the most experienced operator in Puerto Rico, thereby leveraging their brand and dispensary experience on the island.  This investment is part of Future Farm’s plan of continuing to create a diversified portfolio of cannabis investments for its shareholders. “Our existing stores are located in high-traffic locations, and ever since our launch in February 2017 we have enjoyed sustained sales growth. We are excited to be working with the Future Farm team and expand our presence to ten stores in Puerto Rico, creating jobs and offering our patients the highest level of service,” says Ramón Ortiz, CEO of Clinica Verde. “The patient registration process was recently simplified and is now quicker and more accessible to all. We believe we will be able to start building out the new dispensary locations this year and look forward to a 2018 opening.”  Medical marijuana is legally used in Puerto Rico to address more than a dozen conditions, including Alzheimer's, cancer, Lou Gehrig's disease, Parkinson's, rheumatoid arthritis, Crohn's disease, epilepsy and more. On October 6, 2017, Puerto Rico’s Department of Cannabis' board approved allowing patients to go to any open clinic, regardless of the dispensary they had been assigned. \...