Future Farm Technologies Inc (FFRMF) Begins Build-out Process in Massachusetts
Future Farm Technologies Inc. (the “Company” or “Future Farm”) (FFT.CN)(FFT.CN)(FFRMF) is excited to announce that the build out of its cultivation and extraction operation in Attleboro, Massachusetts has entered the next phase of development with the procurement of bids from general contractors.
Future Farm is also pleased to announce that it has completed the demolition of the interior of its Providence, Rhode Island building, which allows for the build-out of a cultivation facility to commence in earnest. The building is located in an M-1 zone, which legally permits the cultivation of cannabis by right. As previously announced, the Company intends to lease this property to a local, licensed cultivator who will use the property as a licensed medical marijuana cultivation space, providing wholesale cannabis to Rhode Island’s state-sanctioned dispensaries. Future Farm has already received a Letter of Intent to lease the property from a provisionally licensed cultivator and lease negotiations are currently underway.
Due to their geographic proximity to each other, Future Farm and its Rhode Island lessee have carefully curated these tandem efforts to maximize efficiencies and secure competitive pricing from vendors and suppliers. Chief project manager Derek Ross has accepted bids from four general contractors who are competing strongly to work on these high profile projects. The bids each represent local contractors, laborers and craftsmen.
“Southeastern Massachusetts and Providence, Rhode Island are traditionally underserved areas in the New England cannabis ecosystem,” says Mr. Ross. “We are now positioned to make a significant contribution to a part of the country struggling to keep up with supply demands, especially as Massachusetts progresses towards adult use and Rhode Island contemplates licensing twelve additional dispensaries, potentially leaving both states very unprepared from a supply perspective. We expect to change that landscape in a few short months.”
With the bids now in hand, Future Farm and its Rhode Island lessee will be carefully vetting each candidate. Future Farm expects to break ground