VANCOUVER, British Columbia, March 22, 2017 /PRNewswire/ --
Future Farm Technologies Inc. (the "Company" or "Future Farm") (OTCQB: FFRMF) (CSE: FFT.CN) is pleased to announce that its majority owned subsidiary, FFM Consulting Services, LLC, has purchased a state-of-the-art extraction machine, for the manufacture of concentrated cannabis oil and purified distillate.
The equipment purchased is designed to rapidly manufacture premium cannabis oil, to supply the growing demand for cannabis concentrates, in the state of California. The equipment utilizes a closed-loop system, to produce high quality oil in a high throughput system with minimal maintenance and labor. The equipment is estimated to be delivered, installed and in full production within the next 90 days.
Projected vendor recommendations and ROI:
- Load Capacity per run = 20lb
- Run Time = 1 hour (24 potential runs daily)
- Oil yield = 10% on average
- Estimated oil yield per run = 9080 grams
- Estimated wholesale price per gram = $10-$20
- Potential revenue per hour = 9080 x $10 = $9,080
"We believe this alcohol extraction machine is the best extraction equipment on the market today, which allows us to be able to process large amounts of cannabis flower into highly pure concentrates from day one," says Bill Gildea, CEO of Future Farm. "This equipment will immediately allow for high-volume and highly pure extraction production. With this purchase, Future Farm is now formalizing the marketing plan to include its own brand, as well as offering contract manufacturer services for other brands and cultivators across the state of California."
Cannabis concentrates and edibles are the largest and fastest growing segments of the cannabis market, which many experts believe will overtake cannabis whole flower sales by 2020. The market for cannabis concentrates is booming because they are used to make edibles, topical ointments, capsules and other packaged products that require a more professional extraction. As the recreational industry gets underway in California, many in the concentrates niche believe it's going to continue to explode in popularity.
"We are excited to begin creating unique extraction products, that are very high in quality as defined through a full complement of technical laboratory analysis," says John Sweeney, Future Farm's COO. "We will make data driven decisions that guide us, in further refining our processes to maintain the very best cannabinoid, flavonoid and terpene profiles. The chosen method of extraction is safe, non-pressurized, reliable, and easy to use. The low temperatures and short residence times helps to preserve all of the essential oils, and the consistency of operations including temperature, vacuum, and feed rates make it an ideal solution for scaling up."
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.
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SOURCE Future Farm Technologies Inc.