![]() The consideration to be provided by Future Farm to the holders of High Purity’s outstanding membership units in the Transaction would be 15 million common shares of Future Farm. All outstanding membership units of High Purity would be exchanged for newly issued common shares of Future Farm at the closing of the Transaction. As a result of the Transaction, High Purity will become a wholly owned subsidiary of Future Farm. Pursuant to the terms of the Letter of Intent, Future Farm will acquire 100% of the outstanding membership units of High Purity by means of a reverse triangular merger in which a subsidiary of Future Farm will be merged into High Purity (the “Transaction”). 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. 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. Vancouver, British Columbia, J(GLOBE NEWSWIRE) - via NEWMEDIAWIRE - 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 Markets
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