January 31, 2019 / TheNewswire / Vancouver, British Columbia - Future Farm Technologies Inc. (the "Company" or "Future Farm") (CSE: FFT) (OTCQB: FFRMF) is pleased to announce that it has entered a lease for its building located at 115 Harris Avenue in Providence, Rhode Island ("the Property") to Herask Associates, LLC ("Herask"). Herask has been issued a provisional license to cultivate medical marijuana from the Rhode Island Department of Business Regulations ("DBR") and was recently granted an extension to complete renovations and controlled environment agriculture (CEA) installation at the Property.
Herask and Future Farm have signed a five-year lease for the 15,000-square-foot building where Herask will house its cultivation and processing operation. Upon completion and final licensure by the DBR, the facility will provide high-quality, wholesale cannabis and cannabis-related products to Rhode Island's state-sanctioned medical marijuana dispensaries.
The extension requires all renovations and installation to be completed by July 31, 2019. Herask has signed an agreement with local contractor Green Development to complete the work.
"We have been in discussions with Herask for quite some time and are excited to finally be able to call them our partners in Rhode Island," states William Gildea, Future Farm's CEO. "Now that they have received the extension from the DBR and enlisted Green Development as their general contractor, we are confident that Herask will be the cannabis supplier of choice within the state."
For further information, contact William Gildea, Director, at (888) 387-3761.
On behalf of the Board,
Future FarmTechnologies Inc.
William Gildea, Chairman & CEO
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 agriculture through production of wholesale and retail cannabis products, including hemp. As a leader in its field, Future Farm is committed to using only the highest quality processes and products. Towards this goal, the Company acquires or partners with licensed-cannabis operators, and acquires or develops leading technologies in cannabis production, breeding, genetics, and Controlled Environment Agriculture (CEA). Future Farm's scalable, indoor CEA systems utilize minimal land, water and energy resources. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generates yields up to 10 times greater per square foot of land.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
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