Future Farm Technologies Inc. (FFRMF) Provides Rhode Island Update
Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE: FFT) (OTCQX: FFRMF) is pleased to announce that it has completed the preliminary 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 a 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.
During Phase I of the demolition, Future Farm’s Lessee began accepting and reviewing proposals for permit-ready sets of plans to lead the way to the next phases of development in the project. The Lessee has since engaged Creative Environment Corp. (a subsidiary of Theilsch Engineering, Inc.) and ZDS, Inc. to begin the architecture/engineering facility design phase. It is anticipated that Phase II of the build-out will be completed sometime in mid to late April.
“CEC and ZDS are two firms leading the industry in cannabis cultivation facility design,” says Derek Ross. “This is an amazing opportunity to work with two of the most accredited firms in the space. Their vast knowledge and experience has made the facility design process fast and efficient.”
Rhode Island’s governor recently introduced a budget proposal, which would dramatically expand Rhode Island’s medical marijuana program, most notably increasing the number of licensed compassion centers from three to 15. The governor also wants to add “acute pain” to the list of qualifying medical conditions, thereby making more people eligible for temporary medical marijuana cards after things such