PALM BEACH, Florida, February 8, 2017 /PRNewswire/ --
The acquisition of land and other assets continues to be a trend in the developing cannabis industry as leaders strive to keep pace with rapidly growing demand due to the evolving marketplace. As the demand for cannabis products and services in industry continues to rise at an unprecedented rate, Sector related performers continue to ramp up operations: Future Farm Technologies Inc. (OTC: AGSTF) (CSE: FFT.CN), Canopy Growth Corporation (OTC: TWMJF)(TSX: WEED.TO), GB Sciences, Inc. (OTC: GBLX), Terra Tech Corp. (OTC: TRTC) and Aurora Cannabis Inc. (OTCQB: ACBFF)(TSX-V: ACB.V).
Future Farm Technologies Inc. (OTCQB: AGSTF) (CSE: FFT.CN) is pleased to announce that it has closed on its previously announced definitive agreement to acquire a 15-acre parcel of land in Redland, Florida, in a county that is designated to legally cultivate, process and dispense cannabis. Redland is an unincorporated community within Miami-Dade County, with Biscayne National Park to the east and Everglades National Park to the west. Redland is primarily a Miami suburb and a major agricultural area. Miami-Dade County is referred to as the nation's "Salad Bowl" and "Winter Bread Basket."
"We are pleased to have reached this contract to acquire this prime parcel of land as it has a long history as a plant nursery, which was first established in 1963," says Mr. William Gildea, Future Farm Technologies Inc.'s CEO and Chairman. Florida's Legislature is beginning the process of figuring out how to implement Amendment 2, which allows for the expansion of legalized medical marijuana in Florida. The new law took effect on Tuesday, Jan. 3, 2017. The Florida Department of Health now has until June 3, 2017 to finalize its MMJ regulations and until September 3, 2017 to issue the first ID cards to patients. Amendment 2 was approved by 71 percent of Florida voters on Election Day, and will allow higher-strength marijuana to be used for a wider list of medical ailments. Read this and more news for Future Farm Technologies at: http://marketnewsupdates.com/news/agstf.html
With this acquisition, Future Farm Technologies has the potential, if fully licensed, to develop 15-acres of cannabis crops and is positioning itself to be a part of the Florida Cannabis market as it rolls out in 2017. If current state projections for the cannabis market size hold up to their $1.8B projection by 2020, Florida will have considerable demand for medical marijuana, even without factoring in the potential for recreational legislation.
This is an exciting acquisition for Future Farm as the 15-acre farm is located in a designated legal grow zone with close proximity to Miami. Future Farm is in a unique position as a Canadian based company because it is poised to quickly commence operations within the United States rather than potentially wait years to become a licensed producer under Canadian law.
In other cannabis company developments in the markets of note:
Canopy Growth Corporation (OTC: TWMJF)(TSX: WEED.TO) will release its financial results for the third quarter of fiscal 2017 ended December 31, 2016 on February 14, 2017. Following the release of its third quarter fiscal 2017 financial results, Canopy Growth will host a conference call and audio webcast with Bruce Linton , CEO and Tim Saunders , CFO at 8:30 AM Eastern Time the same day. Webcast Information - A live audio webcast will be available at:
http://event.on24.com/r.htm?e=1350656&s=1&k=1C4DF1B689538C61DF6BF810ECC1EEEE - Calling Information - Toll Free Dial-In Number: 1-888-231-8191 - International Dial-In Number (647) 427-7450 - Conference ID: 55425439
GB Sciences, Inc. (OTCQB: GBLX) this week announced filing the second in a series of patent applications for life science inventions by its wholly-owned subsidiary, Growblox Life Sciences, LLC. - Inflammatory disorders represent a serious health and economic burden in the US with over $200 billion spent annually. GB Sciences' novel cannabis-based therapies could significantly help both patients and society. According to the CDC, arthritis affects 22.7% (52.5 million) of adults in the US (2010-2012), and the prevalence is projected to increase to an estimated 26% (78 million of the projected total adult population) by 2040. The total costs associated with arthritis were $128 billion in 2003, and they have been increasing over time. Additionally, 8.6% (7 million) children and 7.4% (17.8 million) adults had asthma (2014), which costs the US $56 billion per year. Inflammatory Bowel Disease ("IBD"), which includes Crohn's disease and ulcerative colitis) affected between 1 and 1.3 million people in the US (2007). Per the CDC, IBD is an expensive, chronic disease, which cost the US $11.8 billion in 2008, despite the lower prevalence rates.
Terra Tech Corp. (OTCQX: TRTC), a vertically integrated cannabis-focused agriculture company, today announced it has been named to the 2017 OTCQX® Best 50, a ranking of top performing companies traded on the OTCQX Best Market last year. The OTCQX Best 50 is an annual ranking of the top 50 U.S. and international companies traded on the OTCQX market. The ranking is calculated based on an equal weighting of one-year total return and average daily dollar volume growth in the previous calendar year. Companies in the 2017 OTCQX Best 50 were ranked based on their performance in 2016.
Aurora Cannabis Inc. (OTCQB: ACBFF)(TSX-V:ACB) and Radient Technologies (RTI.V) recently provided an update on their previously announced collaboration arrangements. As previously announced, the parties have entered into a memorandum of understanding ("MOU") to evaluate an exclusive partnership for the Canadian market with regard to the joint development and commercialization of superior and standardized cannabinoid extracts. Read the full announcement at http://finance.yahoo.com/news/aurora-cannabis-radient-technologies-exclusive-013647225.html
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