Future Farm Technologies, Inc. (OTCQB: FFRMF) is engaged as a cannabis technology company. Shares of the cannabis tech company are climbing 25.51%, during early trading on Friday, November 24, 2017. Over the past month, Future Farm Technologies, Inc. has seen average daily volume of 358,790 shares. However, volume of 760,886 shares or dollar volume of $227,504, has already exchanged hands on the day.
Shares of Future Farm Technologies, Inc. are climbing today, after the company announced an update on its LED Canada business. The company announced its LED showroom is fully installed and demand is growing. Peking University is using LED Canada grow lights and studies have shown its lights produce greater crop yield. Here is the full press release detailing of the update:
Future Farm Technologies, Inc. Press Release:
VANCOUVER, British Columbia, Nov. 22, 2017 /PRNewswire/ — Future Farm Technologies, Inc. (the “Company” or “Future Farm”) (CSE: FFT) (CSE: FFT.CN) (OTCQB: FFRMF) is pleased to announce that its LED Canada division has made significant progress in the past quarter.
- LED Showroom buildout is complete and fully operational allowing for cost savings from a vertically integrated warehouse and showroom.
- Demand is increasing for LED Canada’s award-winning Scorpion grow light as more licensed growers complete testing.
- A licensed producer in the USA was able to secure a rebate from its public power supplier for its use of LED Canada Scorpion grow lights, paving the way for savings and large LED purchase orders.
- Peking University has been using LED Canada grow lights and has shown that they produce the highest yields versus other grow lights tested.
- LED Canada is in the final stages of providing a quote on its LEDs for the previously announced Mobile, AL farm and another farm in development in Massachusetts. Each vertical farm would require 9,000 8-foot LED lamps, which would represent a multi-million-dollar purchase order for each project.
About Peking University:
Peking University is a member of the C9 League, analogous to the Ivy League in the United States, and often ranked among the top of the higher education institutions in China. Only those who score highest in nationwide examinations are admitted, with a total enrollment of about 35,000. Among its faculty, 53 are members of the prestigious Chinese Academy of Sciences, and seven of the equivalent academy of engineering. Peking merged with Beijing Medical University in 2000, adding a range of new medical courses and disciplines.
About Future Farm Technologies, Inc.
Future Farm Technologies, Inc. is a Canadian company with projects throughout North America including California, Florida and Maryland. 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, with a focus on cannabis. 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 90% less water, fertilizer and land used, less travel costs, seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability. The Company also utilizes a leading cannabis oil extraction technology, which enables the Company to process 20lbs/hour of cannabis plant to yield approximately 908 grams/hour of oil.
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.
The Company recently acquired the exclusive right to use a patented, augmented reality (AR) technology in the cannabis industry. The Company will work with its partner to merge AR and ad-tech with the cannabis industry through the CannaCube LiveTM platform.
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.