September 6, 2018 – Vancouver, British Columbia – Future Farm Technologies Inc. (the “Company” or “Future Farm”) (CSE: FFT) (OTCQX: FFRMF) would like to take this opportunity to provide further information regarding the spin-out of 11,000,000 common shares of NexTech AR Solutions Corp. (“NexTech”).
As previously announced, the effective date of the spin-out was August 31, 2018. Under the terms of the spin-out, any holder of record of Future Farm common shares as of August 30, 2018 is entitled to receive approximately 0.086145 of a NexTech common share for each common share of Future Farm held by that shareholder. No fractional NexTech shares were issued and the number of such shares issued to each eligible Future Farm shareholder was rounded up or down to the next whole number.
NexTech is seeking a listing of its common shares on the CSE. There can be no guarantee that the NexTech shares will be listed on any stock exchange.
Future Farm shareholders who are entitled to receive NexTech shares should take note of the following:
- For registered shareholders of Future Farm, Direct Registration System (DRS) Advice Statements representing the appropriate number of NexTech shares will be delivered in accordance with the delivery instructions currently on record with Future Farm’s transfer agent. DRS allows registered securities to be held in electronic form without having a physical security certificate issued as evidence of ownership.
- For shareholders who hold Future Farm shares in brokerage accounts that use a nominee (such as CDS & CO or Cede & Co), the NexTech shares have been issued to the nominee. It is the nominee’s responsibility to then notify broker participants as shares are to be allocated in accordance with the broker’s records. The brokers are then responsible to notify non-registered shareholders of the addition of the NexTech shares to their accounts.
Future Farm shareholders should consult their brokers for specific questions regarding their holdings.
For additional information regarding the spin-out, please see the Company’s information circular dated June 26, 2018 and news releases dated September 4, August 28, August 2, July 26, June 25, June 20, April 3 and January 9, 2018.
The securities referenced in this news release have not and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For further information, contact Investor Relations at [email protected] or (888) 387-3761 x710.
On behalf of the Board,
Future Farm Technologies Inc.
William Gildea, Chairman and CEO
About NexTech AR Solutions Corp.
NexTech AR Solutions Corp. is bringing augmented reality to the cannabis market by turning 2D products into exciting 3D consumer experiences. NexTech is currently developing a proprietary and disruptive Augmented Reality (AR) advertising and education platform that uniquely engages by connecting brands and retailers through a fully immersive 3D AR experience called Native AR. NexTech is launching its ARitize™ app, which will host many brands’ 3D objects and augmented reality experiences. NexTech believes it has the first mover advantage in pursuing the cannabis market which is the fastest growing economy in the world. NexTech also owns a large and diverse revenue generating App Portfolio that is deployed on the iTunes and Google plays store which it intends to ARitize™.
About Future Farm Technologies Inc.
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. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “will be”, or variations of such words and phrases or statements that certain actions, events or results “will” occur. All statements within, other than statements of historical fact, are to be considered forward looking including statements with respect to the delivery of DRS Advice statements evidencing NexTech shares. 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. There is no guarantee that NexTech will be listed on a stock exchange. 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.