Future Farm Technologies Inc FFRMF

NR

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Future Farm Announces Extension to $500,000 Line of CreditPress Release | 09/20/2018

Vancouver, British Columbia, Sept. 20, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE: FFT) (OTCQB: FFRMF) is pleased to announce thatit has entered into an Extension to its Conditional Lease Commitment with Veterans Capital Corp, a specialty finance company providing financial and leasing services to various types of business clients (“Veterans Capital”). Veterans Capital has agreed to extend to March 1, 2019 the period of time during which the Company can access its secured lease line of credit in an amount not to exceed US$500,000.00.

"We are pleased to continue working with Veterans Capital,” says William Gildea, CEO of Future Farm. “Veterans’ line of credit provides Future Farm with access to capital that will help to expand our cannabis and industrial hemp extraction business.”

“Veterans Capital Corp recognizes Future Farm Technologies as a leader in the sustainable production of both wholesale and retail cannabis products throughout North America,” says Joe Wold, President of Veterans Capital Corp. “Our Lease Line will continue to provide the Company with a sound alternative of growth capital for its current expansion requirements."  

Future Farm also announces that with respect to the equipment lease financing extension with Veterans Capital Corp., the Company issued 1,250,000 warrants with a five-year term exercisable at C$0.38 per warrant, each warrant entitling the holder to purchase one common share in the capital stock of the Company. 

For further information, contact Investor Relations at [e-mail] [phone] Ext. 710.

On behalf of the Board, 

Future Farm Technologies Inc.