PALM BEACH, Florida, September 12, 2017
PALM BEACH, Florida, September 12, 2017 /PRNewswire/ --
In some areas across the U.S. and Canada, North American licensed producers of legal and medical marijuana have been aggressive in site development and recent acquisitions that will allow current efforts to increase the total volume of cannabis it can grow to lucrative production levels. Some industry professionals believe with upcoming legalization efforts to continue into 2018, cannabis companies are rushing to gain market share prior to the rush that could be setting up to take place once additional state approvals for some level of legal marijuana is legalized, which could fuel volatility moving into the end of 2017. Active companies in the industry include Future Farm Technologies Inc. (OTC: FFRMF) (CSE: FFT), Namaste Technologies Inc. (OTC: NXTTF) (CSE: N), MYM Nutraceuticals Inc. (OTC: MYMMF) (CSE: MYM), Player's Network, Inc. (OTC: PNTV), mCig, Inc. (OTCQB: MCIG).
Future Farm Technologies Inc. (CSE: FFT.CN) (OTCQB: FFRMF) is pleased to announce that it has harvested the first cannabis crop from the previously announced Riverside County, CA cultivation facility and is currently drying, curing, trimming and packaging the flower in preparation for sale and distribution to medical patients in California later this month. The list of strains included in the harvest are Sour OG, Cookies N' Cream, Girl Scout Cookies, Martian Candy and Fire OG. The Company is estimating the harvest of approximately 90-lbs with a market value of $144,000 - $180,000. The Company is also pleased to announce that a video of the cultivation facility is now online and available for viewing. Read this and more news for Future Farm Technologies at: http://www.marketnewsupdates.com/news/ffrmf.html
Investors are encouraged to view the Company's video, filmed July 2017, by clicking on the following link: CULTIVATION VIDEO
"The video features our LED Canada line of COB LED grow lights and gives our investors a behind the scenes view of our emerging cannabis company," comments Bill Gildea, Future Farm's CEO. Mr. Gildea continues, "We now have fully built out the cultivation operations and are currently scaling the oil extraction business to meet the growing market demand while compiling data from our LED grow lights with positive expectations all around." "We are pleased with the progress of the California operations and have been critically assessing key performance indicators along the way," comments John Sweeney, Future Farm's COO. "We have achieved the goal of creating an operational footprint within the state of California and we are encouraged to see a return on the investment of time and capital. As a team, our next step is to maximize efficiency of the cultivation and extraction operations and scale to meet the evolving market demand."
Future Farm would also like to take this opportunity to announce that a Shareholder Conference Call will be held at 12:00 PM EST (9:00 AM PST) on Tuesday, September 19, 2017. The dial-in number is (888)352-6809, and the participant passcode is 6381901. We invite all Shareholders to attend and to submit questions no later than Friday, September 15th at 5:00 PM EST. Questions may be emailed to firstname.lastname@example.org .
In additional news and developments:
Namaste Technologies Inc. (OTCQB: NXTTF) (CSE: N.CN) recently reported August 2017 unaudited sales as reported by the Company (including shipping revenues and after discounts and refunds) were CAD$1,426,755 which represents the Company's all-time record in monthly sales. The total unaudited sales in August 2017 can be compared to CAD$1,196,971 in July 2017, a 19% increase. The increase in revenues was driven due to a 516% increase in sales through channels (eBay, Amazon) and a 43% increase in wholesale revenues. Namaste Vapes revenues increased by 15%.
MYM Nutraceuticals Inc. (OTCQB: MYMMF) (CSE: MYM.CN) recently announced it has entered into an asset purchase and consulting agreement with 'Mary Jane's Touch' (MJT). MJT manufactures and distributes cannabidiol (CBD) products and possesses numerous formulations of CBD products and research on CBD. Under the agreement, MYM will acquire all of MJT's intellectual property regarding CBD, including all formulas, recipes, and research regarding the extraction and production of MJT's CBD products. MYM is also purchasing MJT's database of suppliers, clients and customers, both current and potential.
Player's Network, Inc. (OTCQB: PNTV), a diversified holding company operating in media and marijuana, announces competition for the casting of 'SmokesModels' and on-air personalities. Earlier yesterday we announced the launch of WeedTV.com's Live 4-Day Broadcast. WeedTV is the 'go-to' source for people in the Marijuana Lifestyle. WeedTV will launch with original, live programming filmed September 22nd through the 25th, focused on personifying the Marijuana Lifestyle with the casting of 'SmokesModels' and on-air experts in areas of medical and recreational marijuana, creativity and the expanding overall marijuana industry.
mCig, Inc. (OTCQB: MCIG), a diversified company servicing the legal cannabis, hemp, and CBD markets last week released a summary of its unaudited financial results for the first quarter that ended July 31, 2017. The total recognized sales for the quarter ending July 31, 2017 was $3.1 million. Net sales for the quarter were $400K, representing an increase in revenue of 1,249% and net sales approximately 6 times greater than the same period last year. MCIG continues to see bottom line profitability for its fifth consecutive quarter. Last year the company had a net loss of $170,736, while this year, had a net income of $77,953. These results total a $248,689 improvement from the year-ago quarter. MCIG continues to see profitability from each operating segment, while it continues to develop its 420Cloud social network and platform, and its financial services.
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