Future Farm Technologies Inc. (CSE: C.FFT, OTCQB: FFRMF, Forum) on Tuesday highlighted a news release which states that according to Arcview Market Research, the legal cannabis market will grow from $6.7 billion in consumer spending in 2016 to $22.6 billion in 2021.
The report indicates that there are major opportunities available to companies in the space, including Future Farm, a company with projects throughout North America, including California, Florida, and Maryland.
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Recently the company said it has closed on the purchase of a 15,000 square foot building in Province, Rhode Island.
The building is located in a M-1 zone, which legally permits the cultivation of cannabis by right. The company intends to lease this property to a local licensed cultivator who will use the property as a licensed medical marijuana cultivation space, providing wholesale cannabis to Rhode Island’s state sanctioned dispensaries.
Future Farms was in the news recently when it announced the closing date for the acquisition of a 120-acre industrial hemp farm in Amity, ME.