This transaction allows us to capture a share of the market for CBD products which Cowen Inc. “Merging with High Purity will accelerate our growth to a cash flow positive, scalable business with multiple revenue streams. “We are excited to combine High Purity and Future Farm,” says Bill Gildea, Future Farm’s CEO. “Combining Future Farm’s expertise with High Purity’s rapidly growing business creates a powerhouse team.” “Merging with Future Farm will provide High Purity with access to incredible talent, as well as access to capital markets,” says Mike Matton, High Purity’s founder and CEO. From its inception, High Purity has diligently expanded its customer base and now sells its high-quality products to a broad array of customers, including leading consumer brands and prominent retailers nationwide. High Purity has been a leading manufacturer of these products utilizing hemp and pure CBD extracts since the Massachusetts Department of Agriculture started its hemp program in 2018. High Purity is a leading Massachusetts-based advanced white label and contract manufacturer of cutting-edge nutraceutical and cosmetic products using organic and natural plant extracts, including hemp-derived CBD. The merger of the two companies immediately implements a major step in Future Farm’s core strategy: becoming a leading supplier of pharma-grade health and wellness products, including those which feature hemp-derived CBD. Future Farm’s support to date has included US$125,000 in working capital loans, introductions to large, creditworthy customers, facilitating key parts of the High Purity hand sanitizer supply chain and identifying and closing new sources of nondilutive growth capital. That business includes both High Purity’s established operations as a leader in advanced contract manufacturing of health and wellness products featuring CBD and its recent expansion into the hand sanitizer product lines that retailers and other business customers are demanding in the face of the COVID-19 pandemic. We are especially excited by their brilliantly executed reaction to customer demand for hand sanitizer products, leading to product sales in that category of approximately $440,000 from mid-March to mid-April with associated direct costs of $330,000.”įuture Farm has already been providing strategic and financial resources to support the rapid growth of High Purity’s business. Tom Barrette, President and COO of Future Farm, who led the Future Farm effort to put the merger together, comments “Mike Matton and his team are among the most respected in the industry. The companies will sign a definitive Merger Agreement and subsequently close in the immediate future. (“Future Farm”) ( CSE: FFT) ( OTCQB: FFRMF) and High Purity Natural Products, LLC (“High Purity”) are pleased to announce that on the parties signed a Letter of Intent to merge. J– Vancouver, British Columbia – Future Farm Technologies Inc. Lead Products Include Hand Sanitizer Lines and Cutting-Edge CBD Products Including Sleep Tinctures, An Extensive Topical Cosmetic Line and a New State of the Art After Sun Skin Care LotionĪll Stock Merger Creates Significant Shareholder Value by Adding High Purity Business to Future Farm Partnership Creates Premier Advanced Manufacturing Company Serving the Health and Wellness MarketsįUTURE FARM AND HIGH PURITY NATURAL PRODUCTS TO MERGE
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