VANCOUVER, British Columbia, August 18, 2017 /PRNewswire/ --
Future Farm Technologies Inc. (the "Company" or "Future Farm") (CSE: FFT) (OTCQB: FFRMF) is 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.
Since installation of the extraction equipment at the Huntington Park facility, the team has been scaling up production and dialing in operations using various strains and types of solvents to produce high quality extraction distillates. To date, the team has acquired over 250-lbs of high quality trim material of both THC and distinct CBD strains from various organic producers located in Northern California. All of the acquired trim material is of high quality and fully tested to ensure that it is free of pesticides and microbiological contamination. This week, the team extracted the first CBD batch using organic grape alcohol resulting in a highly pure, potent, and effective medicinal product. This CBD product is suitable for patients seeking therapeutic relief from their symptoms without incurring the 'high' associated with THC containing extracts.
The Company is working toward completing multiple purchase orders for its whole flower and extracted oil products that are expected to be completed in early September.
The Riverside County cultivation facility is progressing as well and the team will be harvesting during the end of August. The Company will be able to use this first harvest to execute a side-by-side comparison of its own LED grow lights versus the standard High Pressure Sodium (HPS) lights. The HPS lights are currently consuming 1000 watts per light whereas the Company's LED Canada grow lights are utilizing 550 watts per light. The Company expects to use data from the harvest to better understand the savings potential per kilowatt-hour over the lifecycle of each plant.
"We are eagerly anticipating the harvest data from the cultivation facility and expect to yield in excess of 1.5-lbs per light. In addition, the extraction operations are developing well and we expect to soon provide our investors with revenue production. We have been working closely with potential customers to understand their needs to ensure that we provide them with the high-quality product that they expect. We are adjusting operations real-time to ensure we can provide them with consistent supply for ongoing long-term contracts," says Mr. John Sweeney, Future Farm's COO.
On behalf of the Board,
Future Farm Technologies Inc.
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.