Vancouver, British Columbia, Jan. 23, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- After a successful 2018 hemp harvest at its farms located in Hersey and Amity, Maine, Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE: FFT) (OTCQB: FFRMF) is currently putting systems in place to begin selling its close to two million Cherry Wine strain hemp seeds. Future Farm chose to grow the elite Cherry Wine strain due to its outstanding genetic stability and high propagation rates. As the harvested seeds continue to dry and cure, Future Farm is in the process of independently testing propagation rates and feminization of the seeds. The Company expects to complete that work and begin selling seeds by mid-March, the first month of its 2020 fiscal year.
In addition to preparing its valuable seeds for market, Future Farm has now completed installation of its ethanol extraction equipment at its facility in Belfast, Maine. It is currently conducting test runs of the equipment. Once that testing is completed, the Company plans to use the equipment to convert the bulk of its 20,000 pounds of hemp biomass into CBD oil for sale to manufacturers of CBD-based products. Future Farm expects to be able to provide more guidance on the amount of oil it will produce and the revenue it can expect from that oil after it completes production testing and further develops its marketing and sale effort.
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
https://futurefarmtech.com/?p=757
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.