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Future Farm Expands Maine Hemp Farm Operation by 100 Acres and Secures Option to Lease an Additional 1,000 Acres
Future Farm Expands Maine Hemp Farm Operation by 100 Acres and Secures Option to Lease an Additional 1,000 Acres.
About this update from Future Farm Technologies Inc
[{"type":"text","content":"\n\n\n\nFuture Farm Expands Maine Hemp Farm Operation by 100 Acres and Secures Option to Lease an Additional 1,000 Acres\n\n\n\n\n\nFuture Farm Expands Maine Hemp Farm Operation by 100 Acres and Secures Option to Lease an Additional 1,000 Acres\nPR Newswire\nVANCOUVER, British Columbia, December 21, 2017\n\n\n\nVANCOUVER, British Columbia, December 21, 2017 /PRNewswire/ --\n\nFuture Farm Technologies Inc. (the \"Company\" or \"Future Farm\") (CSE: FFT) (CSE: FFT.CN) (OTCQB: FFRMF) is pleased to announce it has signed a lease agreement for 100 acres in Maine, thereby doubling its previously announced purchase of 120 acres of a licensed industrial hemp farm. As part of the lease agreement, the Company has an option to lease up to an additional 1,000 acres from the Landlord. The land under lease is organic and so all activity, equipment, practices and applications must follow the Organic Guidelines set forth by MOFGA (Maine Organic Farmers and Gardeners Association).\n\nThe Company also announces that it is preparing to set up a hemp cloning operation, which will use vertical farming technology pioneered by the Company to supply over 200,000 clones to the farm in 2018. The hemp clones will also be grown under the Company's Scorpion LED grow lights, which will save on electricity costs and further leverage its in house technology.\n\nAs part of the lease agreement Future Farm shall have access to a full line of farming equipment, thereby eliminating the upfront cost of having to purchase the equipment.\n\n\"This lease agreement positions us in the hemp farming and CBD business for growing, researching, developing and selling organic hemp and CBD oil, which contain a broad range of cannabinoids used to treat a growing population of CBD oil consumers,\" comments Bill Gildea, CEO of Future Farm. \"We look forward to a very busy 2018 with our hemp and cannabis operations positioned on both coasts to meet the exploding demand of THC and CBD oil.\"\n\nThe U.S. annually imports $500 million of hemp and hemp-related products. Hemp is a fast growing, high margin closely-related business to the cannabis business growing at a 22% CAGR currently valued at over $688 million, and estimated to grow to $1.8 billion by 2020 in the USA.\n\nOn behalf of the Board,\nFuture Farm Technologies Inc.\nWilliam Gildea, CEO & Chairman\n\nAbout Future ...