Business
Future Farm Signs Contract to buy Cannabis Zoned Building in Rhode Island
Future Farm Signs Contract to buy Cannabis Zoned Building in Rhode Island.
About this update from Future Farm Technologies Inc
[{"type":"text","content":"\n\n\n\nFuture Farm Signs Contract to buy Cannabis Zoned Building in Rhode Island\n\n\n\n\n\nFuture Farm Signs Contract to buy Cannabis Zoned Building in Rhode Island\nPR Newswire\nVANCOUVER, British Columbia, December 5, 2017\n\n\n\nVANCOUVER, British Columbia, December 5, 2017 /PRNewswire/ --\n\nFuture Farm Technologies Inc. (the \"Company\" or \"Future Farm\") (CSE: FFT) (OTCQB: FFRMF) is pleased to announce it has entered into an offer to Purchase Real Estate for the acquisition of a 15,000-sq ft building in Providence, Rhode Island. The building is located in a M-1 zone, which legally permits the cultivation of cannabis by right. Once licensed, the Company expects that this property will be used as a licensed medical marijuana cultivation space, providing wholesale cannabis to Rhode Island's state-sanctioned dispensaries.\n\n\"With this asset purchase, Future Farm is building a solid foundation in the Northeastern part of the United States,\" says Bill Gildea, CEO of Future Farm. \"The Northeast has a large population but has lagged behind the Southwest in the permitting of cannabis cultivation and dispensaries, which creates opportunity.\" Rhode Island is in the New England region of the Northeastern United States and is the second most densely populated of the 50 United States.\n\nThe definitive terms of this transaction shall be disclosed in the closing press release.\n\nOn behalf of the Board,\n\nFuture Farm Technologies Inc.\n\nWilliam Gildea, CEO & Chairman\n\nAbout Future Farm \n\nFuture Farm Technologies Inc. is a Canadian company with projects throughout North America including California, Florida and Maryland. The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants, with a focus on cannabis. Future Farm provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to ...