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Future Farm Technologies (OTC:FFRMF) subsidiary to increase growing capability through 420 Holdings partial acquisition

Tony Zerucha

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Future Farm Technologies’ (CSE:FFT) (OTC:FFRMF) Canadian subsidiary CEPG Consulting and Design has purchased a 50 percent interest in 420 Holdings, a Newfoundland corporation. In December 420 Holdings purchased a former shrimp processing facility, located in Jackson’s Arm, Newfoundland.

Three cannabis related license applications are being prepared for submission to Health Canada with respect to the facility: micro cannabis cultivation; cannabis nursery (for the sale of seeds and cuttings); and cannabis processing.

Pursuant to Canada’s regulations, a micro cannabis cultivation license allows the cultivation and sale of cannabis (wholesale) to licensed third parties, and a cannabis processing license allows extraction processes, enabling the development of edibles and the development of bottled water products infused with THC and CBD.

“The former shrimp plant comes equipped with a 10” water line, that delivers pristine water from Jackson’s Arm pond. A small water bottling plant doesn’t require any further approval and seems a logical first step,” says Chris Snellen, CEPG’s president and CEO. “The plan is to build and equip CFIA (Canadian Food Inspection Agency) sanctioned grow rooms, and plant them out to capacity immediately with lettuce, basil, spinach and turnip greens for sale to a local wholesaler, while we await the issuance of the three cannabis related licenses.”

Tony Zerucha

Tony Zerucha is an alternative finance journalist with more than seven years experience in the space. The author of more than 1,000 articles, Tony was named LendIt's 2018 Journalist of the Year.

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