April 13, 2017 – Vancouver, British Columbia Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE: FFT) (OTCQB: FFRMF) is pleased to announce that it has contracted with Christopher Lesh to provide professional consulting services related to business acquisitions, cannabis cultivation, and sourcing raw materials for extraction or resale. Mr. Lesh has over 10 years experience within the cannabis cultivation and dispensary industry in Washington State and previously served as the Production Director for Privateer Holdings, Inc. Mr. Lesh currently serves as an advisor on Future Farm’s Cannabis Advisory Board.
“We are pleased to bring Chris Lesh on board as a Future Farm consultant and look forward to working with him,” says Mr. William Gildea, Future Farm Technologies Inc.’s CEO and Chairman. “As a member of our Cannabis Advisory Board, Chris has proved to be an invaluable resource when it comes to sourcing capital, advising with respect to increasing production capacities, and helping to set up the Company’s facilities. We look forward to working with him more closely on all of our projects currently under development.”
“I am excited to be part of this emerging company and look forward to helping out as I can to execute on the initiatives currently underway in CA as well as Washington State,” says Chris Lesh.
Future Farm is also pleased to announce that its subsidiary, FFM Consulting Services, LLC is making progress in California with respect to the management services being provided to the Huntington Park extraction facility and the Riverside County cultivation facility.
As previously announced, the extraction equipment has been procured and is expected to be delivered and installed in Huntington Park in early May. Staff hiring is complete, and following equipment installation formalized training of the hired staff will occur. An operational budget has been completed and initial marketing and branding discussions are underway to develop product packaging. In addition, the engineering design of the extraction lab is complete and facility upgrades are proceeding to accommodate delivery of the extraction equipment. In addition to the setup of the extraction lab, equipment and raw materials are being sourced and stocked for immediate start-up.
Projected vendor recommendations with respect to the state-of-the-art extraction equipment is as follows:
- Load Capacity per 1 hour run = 20lb
- Run Time = 1 hour (24 potential runs daily)
- Oil yield = 10% on average (potential for 15%-20% based on the quality of input material)
- Estimated oil yield per 1 hour run = 908 grams
- Estimated wholesale price per gram = $10-$20
- Potential revenue per hour = 908 x $10 = $9,080 to $18,160
In addition to the extraction facility work in Huntington Park, the facility modifications of the cultivation operation in Riverside County are underway. Cultivation room framing and wall finish application is complete as well as facility utilities including electrical supply. General electrical installation is also underway including engineering design of lighting solutions; as is procurement of equipment, including vertical grow towers and LED lights. The lighting installation is currently scheduled for April 15th. It is expected that cultivation of plants will begin within the facility on or about May 1st.
For further information, contact William Gildea, Director, at 617.834.9467.
On behalf of the Board,
Future Farm Technologies Inc.
William Gildea, CEO & Chairman
About Future Farm
The Company’s business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Future Farm provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and controlled cultivation centers.
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.