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Future Farm Signs LOI With CEPG Consulting and Design Inc. to Create Elite new Cannabis & Hemp Strains in St. John's, NFLD
Future Farm Signs LOI With CEPG Consulting and Design Inc. to Create Elite new Cannabis & Hemp Strains in St. John's, NFLD.
About this update from Future Farm Technologies Inc
[{"type":"text","content":"\n\n\n\nFuture Farm Signs LOI With CEPG Consulting and Design Inc. to Create Elite new Cannabis & Hemp Strains in St. John's, NFLD\n\n\n\n\n\nFuture Farm Signs LOI With CEPG Consulting and Design Inc. to Create Elite new Cannabis & Hemp Strains in St. John's, NFLD\nPR Newswire\nVANCOUVER, British Columbia, March 22, 2018\n\n\n\nVANCOUVER, British Columbia, March 22, 2018 /PRNewswire/ --\n\nFuture Farm Technologies Inc. (the \"Company\" or \"Future Farm\") (CSE: FFT)(CSE: FFT.CN) (OTCQX: FFRMF) is pleased to announce that it has signed a Letter of Intent (\"LOI\") to acquire a 50% interest in and to enter into a definitive joint venture agreement with CEPG Consulting and Design Inc. (\"CEPG\") of St John's, Newfoundland. The joint venture is formed to begin operations for a cannabis and hemp breeding program under its previously announced joint venture with Rahan Meristem Ltd. (\"Rahan\"), a world renown global agro-biotechnology company incorporated in the State of Israel. The joint venture will operate out of both an existing building and 6,000 square feet of newly constructed laboratories.\n\nCEPG is a Canadian corporation wholly owned by Snellen Holdings (1994) Co. Ltd. (\"SHC\"), based in St John's, Newfoundland. SHC has been developing controlled environment plant growth systems since 1981. SHC will transfer ownership of land and a building located in St. John's, Newfoundland, as well as a 48-ft trailer and its contents.\n\nCEPG will apply for a dealer license from health Canada, which will enable research and development to begin on the growth of cannabis plants. Once licensed, the R&D facility will use state-of-the-art controlled environment equipment and techniques to create a research hub for the Rahan and Future Farm JV, which is expected to create valuable IP to be sold worldwide. The joint venture will develop, own and utilize Rahan's proven and proprietary technology to mass-produce elite new strains of marijuana to fit various profiles required of the medical and legal use of this highly valuable and beneficial plant.\n\n\"We have toured this building and endorsed the plans to build new in-vitro and tissue culture labs on this site. We feel it's the perfect facility for us to create elite new cannabis strains and are pleased with the partnership formed by Future Farm and CEPG,\" says Ron Diner, CEO of R...