Vancouver, British Columbia, Dec. 28, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- In response to the recent passage of the 2018 U.S. Farm Bill, Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE: FFT) (OTCQB: FFRMF) is pleased to announce that it is expanding its existing hemp portfolio to include a potential partnership in Florida. The Florida project builds on Future Farm’s work with its partner, Rahan Meristem, Ltd., to apply molecular and analytical tools for the discovery of scientifically recognized medicinal and industrial uses of hemp-derived products.
The wealth of cannabinoids and terpenes in hemp opens a wide window of opportunities for expansion of endorsed medical uses of hemp products. Currently, Future Farm is a finalist among seven potential research partners being considered by Florida A&M University, which is preparing to commence industrial hemp research and production.
Passage of the 2018 U.S. Farm Bill serves to ratify the Company’s drug discovery work and will facilitate market entry with new products that may soon be endorsed by regulators. Legalization of hemp will also allow comprehensive research relating to hemp and, specifically, cannabidiol (CBD). Future Farm will distinguish itself as an industry leader by conducting federally recognized, longitudinal studies employing the strictest of scientific standards.
“The significance of this legislation cannot be understated as it paves the way for the industry to expand, while providing legitimacy at the governmental and institutional levels,” states Jim Cincotta, Future Farm’s manager of its Florida operations. “It will allow for in-depth exploration of the myriad of applications of this remarkable plant. We know that some of the Florida based research activities will explore optimal hemp growing conditions to assure a consistent supply for local medicinal, retail and industrial processors.”
Future Farm’s team of experts is equipped to associate specific molecular profiles with pharmaceutical uses and its team of researchers is comprised of domain experts in analytical chemistry, tissue and cell biology, pharmacology and horticulture. The Company’s aim is to develop health related products in order to augment the commercial value of a variety of hemp compounds.
For further information, contact Investor Relations at investor@futurefarmtech.com or (888) 387-3761, Ext. 710.
On behalf of the Board,
Future Farm Technologies Inc.
William Gildea, Chairman and 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.
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.