Future Farm Technologies Inc. (the “Company,” “Future Farm” or “FFT”) (CSE: FFT) (OTCQB: FFRMF) announces that, due to logistics and delays caused by the COVID-19 pandemic, it has postponed the filing of its annual audited financial statements for the year ended February 29, 2020 and related management discussion and analysis (collectively, the “Annual Financial Filings”), as required by National Instrument 51-102. Similarly, the Company will also delay the filing of its May 31, 2020 quarterly report and management discussion and analysis, which is due July 30, 2020 (collectively, the “Q1 Financial Filings”).
Pursuant to the Canadian Securities Administrators temporary blanket relief for market participants, which provides a 45-day extension for periodic filings normally required to be made by issuers such as Future Farm, and as further required by British Columbia Securities Commission Instrument 51-517, Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period from June 2 to August 31, 2020 (BC Instrument 51-517), the Company further discloses the following:
- The Company’s management and other insiders will be subject to a trading black-out that reflects the principles in Section 9 of National Policy 11-207 – Failure-to-File Cease Trade Orders until such time that its Annual Financial Filings are complete and filed; and
- The Company expects to file its Annual Financial Filings on or about August 13, 2020 and the Q1 Financial Filings on or about September 13, 2020.
Since February 7, 2020, when the Company filed its interim financial reports for the nine-month period ended November 30, 2019, the Company has announced the following business developments, copies of which are available on Sedar at www.sedar.com:
- On February 18, 2020, the Company provided an update on its growth initiatives;
- On March 10, 2020, the Company announced that it had hemp seeds available for sale;
- On April 9, 2020, the Company announced that its Newfoundland subsidiary had been awarded a research license pursuant to Health Canadas Cannabis Act and Regulations;
- On April 29, 2020, the Company announced that its Florida subsidiary was expanding operations;
- On May 5, 2020, the Company announced relief based pricing for its hemp seeds;
- On May 21, 2020, the Company announced that it had entered into an agreement to extend the term of certain outstanding debentures; and
- One June 3, 2020, the Company announced that it had entered into a letter of intent to merge with High Purity Natural Products, LLC.
For further information, please contact Investor Relations at 888-387-3761 x710 or via email at investor@FutureFarmTech.com.
On behalf of the Board,
Future Farm Technologies Inc.
William Gildea, CEO & Chairman
About Future Farm Technologies Inc.
Future Farm Technologies is a Canadian public company that is poised to be a leading supplier of pharma-grade health and wellness products, including those made from hemp, to meet the burgeoning demand in the U.S. and global markets.
Future Farms 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 rapidly growing market for health and wellness products made from hemp and other plants.
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.
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. There is no guarantee that the Company will be successful in its efforts to further develop its existing hemp operations, or that the Company will be able to raise sufficient capital to execute on its intended business plan and objectives. 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.