Business
FUTURE FARM ANNOUNCES ISSUANCE OF COMMON SHARES AND WARRANTS
FUTURE FARM ANNOUNCES ISSUANCE OF COMMON SHARES AND WARRANTS.
About this update from Future Farm Technologies Inc
[{"type":"text","content":"Future Farm Technologies Inc. (“Future Farm”) (CSE: FFT) (OTCQB: FFRMF) announces the following: On June 19, 2020, it’s wholly owned subsidiary, Future Farm Technologies US, Inc. (“Future Farm US”), entered into a Membership Interest Purchase Option Agreement with High Purity Extractions, LLC (“HPE”) and Michael Matton, an individual who owns 99% of the membership interest in HPE. Pursuant to the Agreement, Future Farm US has, until December 31, 2021, the right (the “Option”) to purchase the right, title and interest in and to 99% of the outstanding membership units of HPE, at its sole option. In consideration for the Option, the Company shall grant to certain designees 8,600,000 five (5) year warrants to purchase a total of 8,600,000 common shares of Future Farm at $0.12 per share.Also, as previously announced, Future Farm has retained the services of Mr. Gary Harnum to, among other things, prepare and submit various cannabis and hemp license applications to Health Canada. As part of the consideration for Mr. Harnum’s consulting work, Mr. Harnum is entitled to receive 200,000 common shares (hereinafter the “Shares”) in Future Farm, said Shares to be valued on the day of issuance and upon the completion of certain milestones. The Company previously issued Mr. Harnum 50,000 Shares and now wishes to reward Mr. Harnum for his good work and success to date by issuing to him the next tranche of 75,000 shares valued at CDN$0.05 per Share. Each share certificate issued in connection with the aforementioned milestones shall bear a restrictive legend detailing the customary four (4) month hold period as required by the CSE.For further information about Future Farm Technologies Inc., contact Investor Relations at [email protected] or via telephone at (888) 387-3761 x710.On behalf of the Board,Future Farm Technologies Inc.William Gildea, CEO & ChairmanAbout Future Farm Technologies Inc. and High Purity Natural Products, LLC Future Farm Technologies is a Canadian public company that, following its merger with High Purity Natural Products, is now a leading supplier of top quality health and wellness products, including those made from hemp, to meet the burgeoning demand in the U.S. and global markets.Future Farm’s seasoned management team, now joined by...