March 7, 2017 / TheNewswire / Vancouver, British Columbia Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE: FFT) (OTCQB: FFRMF) is pleased to announce that further to the Company’s news release dated February 21, 2017, it has completed the non-brokered private placement for 7,671,016 units (the “Units”) at a price of $0.27 per Unit for gross proceeds of $2,071,174, subject to Canadian Securities Exchange approval.  Each Unit is comprised of one common share of stock and one-half share purchase warrant that is exercisable at $0.37 CDN per common share for one-year with certain acceleration clauses. The proceeds from this raise add to the Company's existing cash position.

 

All securities will be subject to a four-month hold period from the date of issuance.  The Company paid cash finder’s fees of $210,205.36 and issued 408,168 share purchase warrants (the “Finder’s Warrants) in connection with the financing.  Each Finder’s Warrant is exercisable into one common share at a price of $0.37 per share for one year.  

 

Related to the February 21, 2017 California extraction license announcement, a restricted stock finder’s fee was paid in the amount of 5,000,000 shares of the Company’s common stock.

 

For further information, contact William Gildea, Director, at 617.834.9467.

 

On behalf of the Board,

 

Future Farm Technologies Inc.

William Gildea, 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.