Tickers: XCNQ:FFT, PINX:FFRMF
Tags: #MedicinalMarijuana
Vancouver, British Columbia - TheNewswire - June 27, 2019 - Future Farm Technologies Inc. (the "Company" or "Future Farm") (CSE: FFT) (OTCQB: FFRMF) announces that Snellen Holdings (1994) Co. Ltd. ("SHC"), the Company's 50% partner in its Canadian subsidiary, CEPG Consulting and Design Inc. ("CEPG"), has achieved certain milestones, pursuant to the parties' previously announced Share Purchase Agreement (the "SPA"), which entitles SHC's 100% owner, Hans C. Snellen to receive certain milestone shares of the Company's common stock (the "Milestone Shares"). Therefore, the Company intends to issue Snellen an aggregate of 195,256 Shares, at a deemed price of $0.09 per Common Share. The Milestone Shares are being issued under the applicable exemptions under the National Instrument 45-106 and are subject to a customary four month and one day hold period pursuant to applicable securities laws.
For further information about Future Farm Technologies, contact Investor Relations at investor@futurefarmtech.com or (888) 387-3761 ext. 710.
On behalf of the Board,
Future Farm Technologies Inc.
William Gildea, CEO
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 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.
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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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