PALM BEACH, Florida, March 15, 2017 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Despiterecent 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.
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").
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