Business
Future Farm's Canadian Subsidiary Purchases Interest in Processing Plant and Prepares Health Canada LP Submissions
Future Farm's Canadian Subsidiary Purchases Interest in Processing Plant and Prepares Health Canada LP Submissions.
About this update from Future Farm Technologies Inc
[{"type":"text","content":"\nVancouver, British Columbia, Jan. 08, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Future Farm Technologies Inc. (the “Company,” “Future Farm” or “FFT”) (CSE: FFT) (OTCQB: FFRMF) is pleased to announce that its Canadian subsidiary, CEPG Consulting and Design Inc. (“CEPG”) located in St. John’s, Newfoundland, has purchased a 50% interest in 420 Holdings Inc. (“420 Holdings”), also a Newfoundland corporation. In December of 2018, 420 Holdings purchased a former shrimp processing facility, located in Jackson’s Arm, Newfoundland (the “Processing Plant”).\n Three cannabis related license applications are being prepared for submission to Health Canada with respect to the Processing Plant: 1) micro cannabis cultivation, 2) cannabis nursery (for the sale of seeds and cuttings), and 3) cannabis processing.  Pursuant to Canada’s regulations, a micro cannabis cultivation license allows the cultivation and sale of cannabis (wholesale) to licensed third parties, and a cannabis processing license allows extraction processes, enabling the development of edibles and the development of bottled water products infused with THC and CBD.  “The former shrimp plant comes equipped with a 10” water line, that delivers pristine water from Jackson’s Arm pond. A small water bottling plant doesn’t require any further approval and seems a logical first step,” says Chris Snellen, CEPG’s president and CEO. “The plan is to build and equip CFIA (Canadian Food Inspection Agency) sanctioned grow rooms, and plant them out to capacity immediately with lettuce, basil, spinach and turnip greens for sale to a local wholesaler, while we await the issuance of the three cannabis related licenses.”  For further information, contact Investor Relations at [email protected].  On behalf of the Board,  Future Farm Technologies Inc.  William Gildea, CEO & Chairman  Link to Press Release: https://futurefarmtech.com/?p=745  About Future Farm Technologies Inc.  Future Farm is a Canadian company with holdings throughout North America including California, Massachusetts, Florida, Maine, Puerto Rico and Newfoundland. The Company’s mission is to advance sustainable agri...