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Future Farm Forms Joint Venture to Operate Five Dispensaries in Puerto Rico -- CFN Media
Future Farm Forms Joint Venture to Operate Five Dispensaries in Puerto Rico -- CFN Media.
About this update from Future Farm Technologies Inc
[{"type":"text","content":"\n \n \n Future Farm Forms Joint Venture to Operate Five Dispensaries in Puerto Rico -- CFN Media\n \n \nFuture Farm Forms Joint Venture to Operate Five Dispensaries in Puerto Rico -- CFN Media\n \n SEATTLE, WA--(Marketwired - Oct 30, 2017) - CFN Media Group (\"CannabisFN\"), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article covering Future Farm Technologies Inc.'s (CSE: FFT) (CNSX: FFT) (FFT.CN) (OTCQB: FFRMF) recently announced joint venture in Puerto Rico. Most people are aware of opportunities in the 29 states and the District of Columbia that have legalized medical marijuana, but Puerto Rico's medical marijuana program is lesser known. Since legalizing the drug about two years ago, nearly 9,000 Puerto Ricans have paid $25 per year for a permit to use medical marijuana to treat 14 pre-approved conditions, including HIV, cancer, multiple sclerosis, migraines, anxiety, and epilepsy.\n Gov. Ricardo Rossello signed a measure earlier this year that set out a legal framework for the industry. The move could spark the expansion of cultivation, manufacturing, and retail operations across the island, which experts believe could generate up to $100 million per year in tax and help ease the island's 12 percent unemployment rate. But, others are hoping that the government will go one step further and legalize adult-use marijuana.\n Investors in the industry have already spent millions of dollars to obtain health department licenses to cultivate, manufacture, and sell medical marijuana. Prior to Hurricane Maria, the territory had about 30 dispensaries, more than 10 grow facilities, five manufacturing centers, and two laboratories along with nearly 300 doctors that could prescribe the drug. The hurricane took a large toll on the industry, but many dispensaries are already re-opened, as of late October.\n Investing in Puerto Rico's Industry\n Future Farm Technologies has been working for several months on acquiring an interest in five dispensaries in Puerto Rico. On October 26, the company announced a joint venture with TCG Investments LLC, which owns the Clinica Verde brand of medical cannabis dispensaries. The company will purchase five pre-qualifications for medical dispensary licenses from Clinica Verde and contribute them to the joint venture.\n \"Our existing stores are loc...