Business
Future Farm Builds Vertical Supply Chain with Acquisition -- CFN Media
Future Farm Builds Vertical Supply Chain with Acquisition -- CFN Media.
About this update from Future Farm Technologies Inc
[{"type":"text","content":"\n \n \n Future Farm Builds Vertical Supply Chain with Acquisition -- CFN Media\n \n \nFuture Farm Builds Vertical Supply Chain with Acquisition -- CFN Media\n \n SEATTLE, WA--(Marketwired - Oct 20, 2017) -  CFN Media Group (\"CannabisFN\"), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article discussing Future Farm Technologies Inc.'s (CSE: FFT) (CNSX: FFT) (FFT.CN) (OTCQB: FFRMF) acquisition of an industrial hemp farm and how it fits into the company's broader cannabis industry strategy.\n The 'Other' Cannabis Industry\n Many investors are familiar with the cannabis industry, which analysts believe will exceed $50 billion in size by 2026. In Canada, several early licensed producers of medical cannabis have become so-called unicorns with market capitalizations in excess of $1 billion. While the industry has tremendous growth potential, investors shouldn't ignore the cannabis industry's close cousin -- the hemp and hemp-based cannabidiol (CBD) industries.\n Hemp is a member of the Cannabis Sativa family, but unlike marijuana, it contains less than 0.3% tetrahydrocannabinol (THC). Despite its lack of psychoactivity, and being widely cultivated prior to the 1930s, the plant was banned by the U.S. government as part of the Marijuana Tax Act of 1937 and later by the Controlled Substances Act of 1970. Several states began to legalize hemp production in 2013 amid the liberalization of cannabis laws.\n The Hemp Business Journal projects that the total retail value of hemp products sold in the U.S. will increase from $688 million in 2016 to more than $1.8 billion by 2020, representing a 22% compound annual growth rate. While personal care represents the largest segment, with $163 million in sales, hemp-based CBDs have already grown to $130 million -- or 19% of the market -- and achieved a 53% compound annual growth rate.\n Future Farm's New Acquisition\n Future Farm Technologies aims to become a leader in the rapidly growing hemp-based CBD industry through its proprietary cannabinoid extraction technology and its recent deal to grow industrial hemp.\n The company recently entered into a purchase and sale agreement with Derek Ross of Cannatech LLC to acquire a 120-acre licensed industrial hemp farm in Amity, Maine. The farm recently completed the harvest of its first crop, wh...