It’s been a busy couple of weeks for a Vancouver-based cannabis company traded on the Over-the-Counter bulletin board and Canadian Securities Exchange.
Future Farm Technologies announced on December 27 that it set a closing date of Thursday (January 4) on its previously announced purchase of a four-hectare greenhouse operation in Florida.
It also stated that it’s secured a US$4-million investment from Yorkville Advisors Global, which will cover the cost of this acquisition.
‘Although the Florida acquisition has taken longer than anticipated, we see the Yorkville financing and the revenue-generating acquisition in Florida as major milestones for Future Farm and its shareholders since it puts us in one of the fastest growing cannabis and hemp markets in the country,’ Future Farm CEO and chairman William Gildea said in a news release.
This came six days after Fuuture Farm announced a lease agreement for 40 hectares in northern Maine. That will double the size of its licensed industrial hemp farm in the northern border state.
The company also declared that it has an option to lease 400 more hectares. The plan is to create a ‘hemp-cloning operation’ under LED grow lights.
“This lease agreement positions us in the hemp farming and CBD business for growing, researching, developing and selling organic hemp and CBD oil, which contain a broad range of cannabinoids used to treat a growing population of CBD oil consumers,” Gildea said. ‘We look forward to a very busy 2018 with our hemp and cannabis operations positioned on both coasts to meet the exploding demand of THC and CBD oil.’