Cannabis Companies Continue to Invest in Infrastructure and Grow Facilities to Keep up With Rising Demand
PALM BEACH, Florida, March 15, 2017 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Despite recent ambiguity in the Cannabis sector, as the revenues in legal marijuana and cannabis industries continue to rise, so does demand, ultimately resulting in the need for Cannabis based companies, to invest heavily in grow facilities and other assets. Cannabis companies focused on the future include: Future Farm Technologies Inc. (OTC: FFRMF) (CSE: FFT.CN), 22nd Century Group, Inc. (NYSE: XXII), Aphria Inc. (OTC: APHQF)(TSX-V: APH.V), OrganiGram Holdings Inc. (OTC: OGRMF) (TSX-V: OGI.V) and Golden Leaf Holdings Ltd. (OTC: GLDFF) (CSE: GLH.CN)
Future Farm Technologies Inc. (OTCQB: FFRMF)(CSE: FFT) is pleased to announce that its majority owned subsidiary, FFM Consulting Services, LLC, a California limited liability company, has entered into a management agreement with a California non-profit company. The non-profit has secured a sublease, for the purpose of cultivating premium grade cannabis in Riverside County, California. The cultivation facility will supply its high quality cannabis, to the previously announced extraction facility, where it will be further processed into premium grade concentrates.
The Company expects that operations within the 3,600-square foot state-of-the-art cultivation facility will be fully functional following completion of facility modifications within three months, with the first harvest 90-days thereafter. The cultivation operation will implement the use of Future Farm's CEA systems, including the Company's patented vertical farming technology and COB LED grow-lights. Read this and more news for Future Farm Technologies at: http://marketnewsupdates.com/news/ffrmf.html
California is the 6th largest economy in the world, and according to ArcView Research, the cannabis market in California is expected to reach US$6.5 billion by 2020. "We're thrilled to have reached another major milestone for our emerging company and excited to have the opportunity, to manage this cultivation facility as it allows us to showcase our ability, to expertly manage the production of consistent high-grade cannabis," said Bill Gildea CEO of Future Farm Technologies. "This cultivation operation provides us with an important strategic advantage to control our supply of locally grown, high-grade raw material for our extraction operations and at the same time incorporate the use of Future Farm's diversity of equipment, including vertical farming technologies and COB LED lighting solutions," commented John Sweeney, COO of Future Farm Technologies.
In other sector related developments and performance in the market:
22nd Century Group, Inc. (NYSE: XXII) closed even, at $0.97 on Tuesday, trading over 900,000 shares by the market close. 22nd Century is a plant biotechnology company, focused on technology, which allows it to increase or decrease the level of nicotine in tobacco plants, and the level of cannabinoids in cannabis plants, through genetic engineering and plant breeding. The Company's primary mission is to reduce the harm caused by smoking.
Aphria Inc. (OTCQB: APHQF) (TSX-V: APH.V) closed up slightly on the TSXV exchange at $6.62 and at $4.90 on the OTC market on Tuesday. Aphria's CEO issued a statement last week, with respect to its ongoing commitment to providing pharmaceutical-grade cannabis that is free of chemical pesticides. Vic Neufeld, Chief Executive Officer of Aphria, said, "Aphria has always held itself to the highest standards when it comes to the cultivation and production of medical cannabis. As part of this, we made a strategic investment in a state-of-the-art greenhouse in Leamington, Ontario, which enables us to produce medical cannabis that meets our exacting standards of quality, consistency, and safety." Read the full statement at http://finance.yahoo.com/news/aphria-affirms-commitment-producing-safe-221712042.html
OrganiGram Holdings Inc. (OTCQB: OGRMF) (TSX-V: OGI.V) closed up over 2% on the TSXV exchange, at $2.42 and at $1.809 on the OTC market on Tuesday. Organigram Inc., a wholly owned subsidiary of Organigram Holdings Inc., recorded single-week sales of over $250,000 for the first time in its history, for the period March 5-11, 2017, the company reported on Tuesday.
Golden Leaf Holdings Ltd. (OTCQB: GLDFF) (CSE: GLH.CN) closed up over 9% on the CSE exchange, at $0.34 and up over 14% at $0.25 on the OTC Market on Tuesday. Golden Leaf Holdings Ltd., a leading cannabis oil solutions company, built around recognized brands, is pleased to announce on Tuesday that the Company has signed a binding Letter of Intent (LOI), to acquire (the "Transaction") Canadian based Medical Marijuana Group Corporation ("MMGC").
DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies, are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated three thousand nine hundred dollars for news coverage of the current press release issued by Future Farm Technologies Inc. by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.
Contact Information: Media Contact email: E-mail: firstname.lastname@example.org Phone: +1(561)325-8757