Future Farm Names David Lenigas Non-Executive Chairman
Vancouver, British Columbia, Feb. 20, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE: FFT) (OTCQB: FFRMF) is pleased to announce that it has agreed to expand its board to add Mr. David Lenigas, who will serve as Non-Executive Chairman. Future Farm will draw on Mr. Lenigas’s decades of experience in building successful businesses to help evaluate the numerous opportunities the Company is receiving for capital funding and acquisitions, as well as to help assure that Future Farm’s existing robust portfolio of cannabis businesses progress as rapidly as possible.
Mr. Lenigas has extensive experience operating in global public markets having served in a senior executive capacity on many public company boards. Among his other positions, he currently serves as Co-Chairman of LGC Capital, a Montreal-based company investing internationally in facilities that allow for large scale cultivation of cannabis and production of legal products within regulatory environments that allow such activity, including Canada, Australia, Jamaica, Italy and Switzerland. Mr. Lenigas served as the Executive Chairman of Rare Earth Minerals plc until December 2015 and was responsible for the company’s significant involvement in the discovery of the Sonora Lithium Project in Northern Mexico with its joint venture partner Bacanora Minerals Limited. He also served as Executive Chairman of London main board listed conglomerate Lonrho Plc for seven years until September 2012 and was responsible for its expansion into more than 20 countries in Africa in sectors covering agriculture, infrastructure, hotels, IT and aviation.
Mr. Lenigas holds a Bachelor of Applied Science (Mining Engineering) with Distinction from Curtin University’s Western Australian Kalgoorlie School of Mines and also holds an unrestricted ﬁrst class mine manager’s certiﬁcate from the Western Australian Government. He still actively participates in the resources industry, mainly in the oil and gas sectors in the UK and Australia, and was responsible for the significant new oil discovery near London’s Gatwick international Airport when he was Executive Chairman of UK Oil & Gas Investments Plc.
“David’s track record in three key areas; capital markets, growth by M&A and operations, and his extensive experience in large agriculture operations and global agri-logistics, will be a great addition to the Future Farm team as we continue to grow operations and seek new opportunities,” says William A. Gildea, CEO of Future Farm.
“Future Farm and its management have amassed an incredible portfolio of US assets in the legal cannabis and CBD sectors in California, Massachusetts, Florida, Maine, Puerto Rico and Newfoundland, which are now primed for significant growth in 2019,” says Mr. Lenigas. “Also, with the passing of the 2018 US Farm Bill, I see great potential to significantly expand Future Farm’s operations into the fast growing high CBD and low THC markets, especially when you see what is happening with the growth of Cannabis Light and CBD products all over Europe. There is also a great opportunity for Future Farm to actively pursue M&A opportunities, as I see so many great US companies that are significantly undervalued when compared to Canadian market metrics.”
For further information, contact Investor Relations at email@example.com or (888) 387-3761 Ext. 710.
On behalf of the Board,
Future Farm Technologies Inc.
William Gildea, Director and CEO
Future Farm is a Canadian company with holdings throughout North America including California, Massachusetts, Florida, Maine, Puerto Rico and Newfoundland. The Company’s mission is to advance sustainable agriculture through production of wholesale and retail cannabis products, including hemp. As a leader in its field, Future Farm is committed to using only the highest quality processes and products. Towards this goal, the Company acquires or partners with licensed cannabis operators, and acquires or develops leading technologies in cannabis production, breeding, genetics, and Controlled Environment Agriculture (CEA). Future Farm’s scalable, indoor CEA systems utilize minimal land, water and energy resources. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generates yields up to 10 times greater per square foot of land.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
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