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Future Farm Technologies Inc (OTCQB:FFRMF) Engages RwE Pertaining A Spin Off

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Future Farm Technologies Inc (OTCQB:FFRMF) has hired RwE Growth Partners Inc. to perform a business valuation and fairness process on its recently bought augmented reality asset. The work is being performed in preparation for a stock payout, which will be issued to stockholders of record upon spin off. The process is projected to happen within the imminent 120 days.

The details

William Gildea, the CEO of Future Farm, expressed that they consider that in order to enhance shareholder value, this planned spinning off is in the best interest of their shareholders. Once spun off, the company’s shareholders will get shares in a new firm traded on the CSE, with a sole focus on offering augmented reality to the cannabis market.

The augmented reality market is prepared to grow considerably in the near future as firms such as Intel Corp (NASDAQ:INTC), Apple Inc (NASDAQ:AAPL), Alphabet Inc (NASDAQ:GOOGL) and Microsoft Corp (NASDAQ:MSFT) are now aggressively launching hardware and software to support this fast growing and dynamic industry. Once the spinoff is done, Future Farm stockholders will own stock in a newly formed firm occupying a valuable place in the cannabis segment with augmented reality improved packaging and an ad-tech led platform for dispensaries.

In unrelated news, Future Farm reported that it has finalized an offer to Purchase Real Estate for the buying of a building in Providence, Rhode Island. This building is based in a M-1 zone, which officially permits the grow of cannabis by right. Once approved, the firm anticipates that this asset will be utilized as a licensed medical marijuana grow space, offering wholesale cannabis to Rhode Island’s state-approved dispensaries. The CEO stated that with this asset deal, Future Farm is establishing a robust foundation in the Northeastern part of the U.S.

In the last trading session, the stock price of Future Farm declined more than 3% to close the day at $0.375.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of MMJReporter.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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