Expansion in the North American legal marijuana, cannabis and hemp industry, along with Mexico recently legalized medical marijuana, as well as Canada debating legislation to legalize recreational marijuana use in 2018. Industry professionals believe all indications are pointing to the fact the current growth and expansion in the industry is expected to pick up steam in the upcoming months for a number of marijuana companies and operators. Active companies in the market today includes: Future Farm Technologies Inc. (OTC: FFRMF) (CSE: FFT), Canopy Growth Corporation (OTC: TWMJF) (TSX: WEED), PUF Ventures Inc. (OTC: PUFXF) (CSE: PUF), Glance Technologies Inc. (OTC: GLNNF) (CSE: GET), PotNetwork Holding, Inc. (OTC: POTN).
Future Farm Technologies Inc. (OTCQB: FFRMF) (CSE: FFT.CN) is pleased to announce that it has signed a license agreement with AR E1, LLC ('ARE1') wherein the Company has acquired the exclusive right to use ARE1's patented technology in the cannabis industry. Future Farm and ARE1 will work together to merge augmented reality (AR) and ad-tech with the cannabis industry through the CannaCube Live™ platform. This transaction brings both an impressive portfolio of intellectual property as well as a very experienced development team whom have created over 300 AR apps for major clients like: Disney, Coca Cola, Colgate, Toyota, Kellogg, AT&T, General Motors, Ford, Pirelli, FedEx, Chevrolet, as well as many other blue chip clients.
An overview of the business model is available for download on Future Farm's website or by using the following link: https://futurefarmtech.com/wp-content/uploads/2017/09/ARE1-FFT-9-23-17.pdf
"With this AR platform, we have a first mover advantage in the cannabis market," says William Gildea, CEO of Future Farm. "The AR market is estimated to grow to a $120 billion industry by 2020. This is a major opportunity for Future Farm to be at the forefront of this fast growing technology and merge it with cannabis, another of the fastest growing market sectors in the world."
The AR market is set to explode from a $10 billion market today to $120 billion over the next two years as Apple, Google, Microsoft, and Intel are now launching software and hardware to support this dynamic and fast-growing industry. Future Farm is aiming to carve out its niche in the cannabis market with augmented reality enhanced packaging for branding as well as an ad-tech driven platform where dispensaries, cultivators, processors and others will use its AR platform to create a richer customer experience in stores, on the farm and at home.
Additional developments in the industry today include:
Canopy Growth Corporation (OTC: TWMJF) (TSX: WEED.TO) and Skinvisible Pharmaceuticals Inc., a research and development company with a patented drug delivery system, have signed a definitive license agreement for Skinvisible's patented topical formulations. Per the agreement, Canopy Growth is exclusively licensed to distribute Skinvisible's topical products in Canada and shall have a first right of refusal for all other countries, excluding China and the United States. The agreement covers two distinct product lines made with Skinvisible's Invisicare trademark technology. Skinvisible will first develop unique topical hemp-based products that will be launched by Canopy Hemp Corporation in Canada. The agreement also includes potential cannabis-based topical products using the Invisicare trademark technology, when and if federal regulations permit CBD or THC infused topical products for sale in Canada.
PUF Ventures Inc. (OTC: PUFXF) (CSE: PUF.CN) plans to construct a one-million-square-foot greenhouse operation with large-scale manufacturing, processing and office facilities for the cultivation, production and manufacture of medical cannabis and associated products in Australia. The construction of the facility will be completed in stages at an estimated total cost of $50-million. The first phase of the project is to cover approximately 300,000 square feet, which, upon completion, will be the largest medical cannabis greenhouse in Australia. The first crop, based on current construction timelines, permitting and various Australian approvals, is expected to be planted in the fourth quarter of 2018. PUF will seek financing to cover the costs of the project from both local and international partners.
Glance Technologies Inc. (OTCQB: GLNNF) (CSE: GET.CN) will close the first tranche for three million units of a previously announced non-brokered financing at 40 cents per unit on Sept. 27, 2017. Each unit consists of one common share and one share purchase warrant, which entitles the holder to acquire an additional share at a price of 75 cents per share for a period of 12 months from closing. No finders' fees were paid in connection with this closing, but finders' fees of 10 per cent in cash and warrants to buy units equal to 10 per cent of the number of units sold may be paid on the next tranche of the financing, which is anticipated to close on Oct. 5, 2017.
PotNetwork Holding, Inc. (OTC Pink: POTN) closed up over 3% on Wednesday trading over 2 Million shares by the market close. POTN recently announced that the Company remains resolute, strong and open for business. Following what meteorologists considered the largest hurricane to hit Florida, Diamond CBD, fortunate to have averted any storm damage, has committed to strengthen community rebuilding efforts by generously donating 10% of all net proceeds originated from DiamondCBD.com, over the 3 day duration of its 50% off storewide Hurricane Irma Relief promotion.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.