March 7, 2017 – Vancouver, British Columbia – Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE: FFT) (OTCQB: FFRMF) is pleased to announce that further to the Company’s news release dated February 21, 2017, it has completed the non-brokered private placement for 7,671,016 units (the “Units”) at a price of $0.27 per Unit for gross proceeds of $2,071,174, subject to Canadian Securities Exchange approval. Each Unit is comprised of one common share of stock and one-half share purchase warrant that is exercisable at $0.37 CDN per common share for one-year with certain acceleration clauses. The proceeds from this raise add to the Company’s existing cash position.
All securities will be subject to a four-month hold period from the date of issuance. The Company paid cash finder’s fees of $210,205.36 and issued 408,168 share purchase warrants (the “Finder’s Warrants) in connection with the financing. Each Finder’s Warrant is exercisable into one common share at a price of $0.37 per share for one year.
Related to the February 21, 2017 California extraction license announcement, a restricted stock finder’s fee was paid in the amount of 5,000,000 shares of the Company’s common stock.
For further information, contact William Gildea, Director, firstname.lastname@example.org.
On behalf of the Board,
Future Farm Technologies Inc.
William Gildea, CEO & Chairman