January 23, 2019 – Vancouver, British Columbia – 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.
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On behalf of the Board,
Future Farm Technologies Inc.
William Gildea, Chairman and CEO