Business
Future Farm to Focus on Execution and Expansion of U.S. Hemp Operations
Future Farm to Focus on Execution and Expansion of U.S. Hemp Operations.
About this update from Future Farm Technologies Inc
[{"type":"text","content":"\nTargeted Approach Expected to Enhance Access to Capital and Accelerate Revenue\n Vancouver, British Columbia, Aug. 09, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE: FFT) (OTCQB: FFRMF) is pleased to announce that, after careful consideration and analysis, it will focus its resources on existing business operations that are expected to meaningfully increase revenue this fiscal year and in the future.  To that end, the Company’s robust expectations for its Maine hemp-for-wellness operations have led it to decide that it will focus on successfully growing its 2019 crop of hemp and extracting CBD and other valuable materials from that crop. Future Farm will sell those materials to manufacturers of consumer CBD products.  Future Farm will continue to pursue licenses to grow cannabis for research and development in Canada in partnership with Rahan Meristem. The Company will discontinue projects related to marijuana in the United States in order to enhance its access to capital and simplify other aspects of business operations such as banking and tax planning. As an initial step in this effort, Future Farm has sold its interest in FFPR, LLC, the company developing dispensaries in Puerto Rico, back to its local partner in that effort, Clinica Verde.  “With the hemp crop on our 100-acre farm in Maine thriving, it became very clear that we should focus the bulk of our resources on executing a successful harvest and on an already very active sales effort,” comments William Gildea, CEO of Future Farm. “We are confident that this focused approach will accelerate revenue growth and profitability.”  For further information, contact Investor Relations at [email protected].  On behalf of the Board,  Future Farm Technologies Inc.  William Gildea, CEO & Chairman  About Future Farm Technologies Inc.  Future Farm Technologies is a Canadian public company that is poised to be a leading supplier of hemp-derived CBD products to meet the burgeoning demand in the U.S. and global markets. The Company’s current key initiatives are the cultivation and processing of its hemp crop growing in Maine, the pursuit of other hemp-related opportunities throughout the U.S. and the ...