Company Releases Second Quarter Financial Results
Vancouver, British Columbia, Oct. 31, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Future Farm Technologies Inc. (CSE: FFT) (OTCQB: FFRMF) is pleased to announce that the harvest of its Maine hemp crop is nearing completion, with over 75% of the field harvested. The remaining hemp plants will be shipped to the Company’s Belfast facility by November 2nd, on schedule and according to plan. The team is hanging the plants to dry in a climate-controlled room in Belfast, Maine. After approximately two weeks, the plants will be prepared for processing into high quality CBD products.
"We greatly appreciate the dedication and hard work of our team over these last few weeks,” comments William Gildea, Future Farm’s CEO. “Completing this harvest is especially timely since just this week the USDA released its interim hemp regulations. Knowing that we are already well-positioned in an industry with economic opportunities in new markets is very exciting."
The Company is also pleased to announce that its Q2 2020 financial statements have been filed for the period ended August 31, 2019. Filings are available on SEDAR.
The Company would also like to remind its shareholders that it has changed the date of its Annual General Meeting of Shareholders to December 16, 2019. The Company set October 17, 2019 as the record date for notice, voting and beneficial ownership determination date.
The Company also announces that the Board of Directors has approved the cancellation of 1,650,000 incentive stock options currently exercisable at $0.31CDN and 4,231,250 incentive stock options currently exercisable at $0.395CDN.
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 Technologies is a Canadian public company that is poised to be a leading supplier of hemp-derived CBD products to meet the burgeoning demand in the U.S. and global markets. The Company’s current key initiatives are the cultivation and processing of its hemp crop growing in Maine, the pursuit of other hemp-related opportunities throughout the U.S. and the development of elite strains of cannabis in Canada.
Future Farm’s seasoned management team brings a deep understanding of operations and agriculture with the financial and regulatory expertise needed to become an industry leader in the evolving market for CBD and related compounds.
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.