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FutureLand Corp (FUTL) Pens Deal With HempTech (HTCO) to Fund 1000 grow.droid II Container Grow Systems
FutureLand Corp (FUTL) Pens Deal With HempTech (HTCO) to Fund 1000 grow.droid II Container Grow Systems.
About this update from Futureland Corp
[{"type":"text","content":"\nFutureLand Corp (FUTL) Pens Deal With HempTech (HTCO) to Fund 1000 grow.droid II Container Grow Systems\n\nFutureLand Corp (FUTL) Pens Deal With HempTech (HTCO) to Fund 1000 grow.droid II Container Grow Systems\n\n\nFutureLand to Generate 50% of HempTech's Revenues, Plus 10% of Money Raised\n\nDENVER, CO--(Marketwired - June 28, 2016) - FutureLand Corp. (OTCQB: FUTL), a leading provider of strategic real estate investment, grow facilities and material solutions to the global cannabis industry, announced today that it has signed a Funding and consulting Agreement with HempTech Corp (OTC PINK: HTCO) to raise money to fund 1,000 grow pods for HempTech in association with their exclusive Master Vendor Agreement to deliver containerized grow systems (grow.droid II) for Tinkerer's Obsession Labs (TOL). TOL, in conjunction with their partners, have agreed to purchase from HempTech a minimum of 1000 \"grow.droid II\" systems, between 2016 and 2022, to satisfy the growing need for cannabis among Indian reservations in North America. The estimated contract value for the agreed upon term between HempTech and TOL is north of $150M. \"This is a big deal for FutureLand Corp. The potential is quite substantial and could be worth 10's of millions a year in recurring revenue,\" said CEO of FutureLand Corp., Cameron Cox. \"Initial cash infusions for helping to obtain the financing will certainly benefit us in the short run for growing marijuana, but the real payoff here will be establishing a massive network of grow pods throughout the United States and Canada that will convey large amounts of cash over time.\" The company has arranged to get 50% of the revenues HempTech receives on the back end, in perpetuity. If the grow pods network is sold upon maturation, then FUTL will participate in the sale in the same manner. \"We wholeheartedly support what HempTech is doing and believe that their business model is rock solid.\"\"The ability for HempTech to rely on FutureLand to fund the containers and its implementation for this project is a huge plus. We can now focus on our core strength of building the grow.droids and a strong operations team,\" said John Verghese, COO of HempTech Corp. FutureLand Corp's (OTCQB: FUTL) exclusive agreement with HempTech to obtain financing and consultation support for the life of the MVA agreement has been put in pl...