Future Farm Technologies Inc. (the “Company,” “Future Farm” or “FFT”) (CSE: FFT) (OTCQB: FFRMF) is pleased to announce that business is strong at White Sand Nursery (“White Sand”), the Company’s greenhouse business in Apopka, Florida.
White Sand is currently operating at full capacity in order to meet strong demand for its ornamental plants, which are sold in large retail stores throughout North America. Despite the devastating effect COVID-19 has had on the national economy, one of White Sand’s largest customers reports strong sales at big-box garden centers, resulting in White Sand shipping more than 80,000 plants per week to that customer. With peak shipping season just beginning and good demand from other customers as well, Future Farm expects even higher numbers of plants to be shipped in the coming weeks.
White Sand’s continued success is attributable to both the dedication of its long-time employees led by Carol Hawley and the steady hand of Craig Stanley, Future Farm’s acting CFO and Board Member. Mr. Stanley stepped in to assist with White Sand’s operations after the departure of Manager Jim Cincotta earlier this year.
Mr. Stanley will be taking an even more active role in on-site management starting in May, in order to provide additional operational support and implement a strategy to grow the revenues and profits of White Sand by improving marketing and sales and introducing best practices. Mr. Stanley will oversee the implementation of online accounting platforms, the addition of food products to White Sand’s product line, and revamping the company’s website to include online ordering for both ornamental plants and food products.
“We plan to add production of leafy greens and vine crops to White Sand’s product line in order to meet the increased demand for fresh, locally produced food, and to ensure its continued designation as an essential business under COVID-19 restrictions,” explains Mr. Stanley. “Revamping the company’s website is essential in order to support these efforts and allows us to take advantage of the recent huge increase in online sales of local fresh produce and other food products.”
The Company is also pleased to announce that it has hired Jeff Johnson to join the White Sand team as Lead Grower. Mr. Johnson has 30 years of growing experience and previously worked at White Sand from 1998 to 2015, which was prior to Future Farm’s acquisition of the company. Mr. Johnson’s deep knowledge of the company has allowed for his seamless transition into the new management role, which has also contributed to White Sand’s current successes.
As previously announced, in March 2019, Future Farm was one of two applicants selected by Florida Agricultural & Mechanical University (“FAMU”) to enter into a research partnership to cultivate hemp in the state. The partnership would have allowed Future Farm to be one of the first companies to plant hemp in the state. However, in light of the Florida Department of Agriculture and Consumer Services’ announcement that it would begin accepting applications for Hemp Cultivation Licenses, FAMU recently cancelled the parties’ research partnership. Future Farm is currently assessing whether to pursue hemp cultivation in Florida.
Future Farm’s core strategy remains becoming a leading supplier of pharma-grade health and wellness products, including those made from hemp. Like many businesses, however, Future Farm is also focused on remaining on solid footing during the coronavirus crisis. Because White Sand is seeing strong demand for its legacy ornamental plant business during the pandemic, plus a new demand for food products, Future Farm will support that business opportunity. With respect to the Company’s core health and wellness business, the challenges posed by COVID-19 have also increased demand for health and wellness products, for example, hand sanitizer. Future Farm is therefore actively pursuing opportunities to help address needs created by the pandemic with products targeted to that demand.
For further information, please contact Investor Relations at 888-387-3761 x710 or via email at investor@FutureFarmTech.com.
On behalf of the Board,
Future Farm Technologies Inc.
William Gildea, CEO & Chairman
About Future Farm Technologies Inc.
Future Farm Technologies is a Canadian public company that is poised to be a leading supplier of pharma-grade health and wellness products, including those made from hemp, to meet the burgeoning demand in the U.S. and global markets.
Future Farm’s seasoned management team brings a deep understanding of operations and agriculture with the financial and regulatory expertise needed to become an industry leader in the rapidly growing market for health and wellness products made from hemp and other plants.
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.
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. There is no guarantee that the Company will be successful in its efforts to further develop its existing hemp operations, or that the Company will be able to raise sufficient capital to execute on its intended business plan and objectives. 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.
Published at Wed, 29 Apr 2020 12:05:37 +0000