PALM BEACH, Florida, February 21, 2017 /PRNewswire/ --
As the United States and Canada continues to make strides towards legalization of cannabis, the demand for pure cannabis extracts for THC & CBD oils are steadily rising at a quick pace. Cannabis operators and purveyors are acquiring advanced licenses and other assets to gain an edge on competitors in the race to improve higher grades of cannabis concentrate and CBD extraction methods as the demand rises across North America and globally. Cannabis companies in the news today include Future Farm Technologies Inc. (OTC: AGSTF) (CSE: FFT.CN), Mentor Capital, Inc. (OTC: MNTR), Cannabics Pharmaceuticals Inc. (OTC: CNBX), OWC Pharmaceutical Research Corp. (OTC: OWCP) and Canopy Growth Corporation (OTC: TWMJF) (TSX: WEED.TO)
Future Farm Technologies Inc. (OTCQB: AGSTF) (CSE: FFT.CN) is pleased to announce that its subsidiary, FFM Consulting Services, LLC, a California limited liability company, has entered into a management agreement with a California non-profit company. The non-profit has secured a sublicense to legally manufacture cannabis oil using a non-volatile method compliant under the Medical Marijuana Regulation and Safety Act ("MMRSA"), in southeastern Los Angeles County, California.
The non-profit will produce highly pure cannabis concentrates to supply California's medical marijuana patients' rapidly growing demand for both THC and CBD oil. The company will also focus on increasing inventory and capacity as California prepares to create a market for legal recreational cannabis. FFM Consulting Services, LLC, which is majority owned by Future Farm Technologies, will manage the new state-of-the-art extraction facility. Read this and more news for Future Farm Technologies at http://marketnewsupdates.com/news/agstf.html
"We're thrilled to have reached this major milestone for our emerging company and excited to have the opportunity to manage this extraction facility as it allows us to showcase our ability to expertly manage the production of consistent and pure concentrates," said Bill Gildea CEO of Future Farm Technologies. Cannabis concentrates and edibles are the largest and fastest growing segments of the cannabis market. The market is accelerating as consumers become more educated on the various oil infused products that can be produced, as well as how well they work. As consumers become more educated, they grow more interested in using oil as a flower alternative.
Future Farm is also pleased to announce that due to a high level of interest from strategic investors, they are offering $1,000,000 (units) in a non-brokered private placement. The Company will use the net proceeds for opportunistic acquisitions, and the continued rapid expansion of their business. The Company is offering each Unit at a price of $0.27 CDN per Unit. 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.
In other Cannabis market performances and developments of note in the sector:
Mentor Capital, Inc. (OTCQB: MNTR) closed up on last Friday at $2.84 trading over 1 million shares by the market close. Mentor Capital is a private equity firm specializing in acquisitions and emerging growth investments. The firm provides passive equity funding and liquidity to smaller companies and owners in the medical, marijuana and social use cannabis companies.
Cannabics Pharmaceuticals Inc. (OTCQB: CNBX) closed up over 36% on last Friday at $4 trading over 8.2 Million shares by the market close. Cannabics Pharmaceuticals, a U.S-based public company, is dedicated to the development of Personalized Anti-Cancer and Palliative treatments. The Company's R&D is based in Israel, where it is licensed by the Ministry of Health for its work in both scientific and clinical research. The Company's focus is on harnessing the therapeutic properties of natural Cannabinoid formulations and diagnostics.
OWC Pharmaceutical Research Corp. (OTCQB: OWCP) closed up over 36% on last Friday at $0.92 trading over 6.7 Million shares by the market close. OWC Pharmaceutical Research announced on Feb 17 that it will be presenting at the Wall Street Conference. The event will be held at the Hilton Doubletree Hotel and Conference Center in Deerfield Beach/ Boca Raton, Florida, on Wednesday, March 1, 2017.
Canopy Growth Corporation (OTC: TWMJF) (TSX: WEED.TO) Canopy Growth announced that it has renewed the engagement agreement ("agreement") with XIB Consulting Inc. ("XIB") that the Corporation announced on April 7, 2016 and subsequently renewed October 7, 2016. Under the agreement, XIB will continue to assist Canopy Growth with corporate development initiatives including, but not limited to, acquisitions, strategic networking and market awareness.
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