Future Farm Technologies Inc (OTCMKTS:FFRMF) is planning to introduce Holographic Display Technology into the marijuana market. The company’s partially-owned subsidiary NexTech AR Solutions signed a worldwide exclusive license agreement for bringing the ARHT patented technology to the marijuana industry.
Future Farm to spin out NexTech shares on pro-rata basis
The company also announced that the Supreme Court of British Columbia has given a final approval to a plan of arrangement in between the shareholders of Nextech AR Solutions and Future Farm. As per the Plan of Arrangement, the company will spin-out 11,000,000 common shares of its subsidiary NexTech that has been transferred to Future Farms to the shareholders of Future Farm on the pro rata basis.
It indicates that the shareholders of Future Farm will own around 25.86% of the outstanding and issued common shares of the subsidiary company. The CEO of Future Farm, William Gildea said, “We are glad that the majority of our shareholders agreed with our plan to spin-out Nextech, and that the court issued its approval. Nextech occupies a valuable niche in the cannabis market, and now shareholders of Future Farm will enjoy its success as well.”
NexTech confident that the cannabis market ready for holographic technology
As per the latest report, the cannabis market in North America will grow to $47 billion by 2027. In 2017, the marijuana market in North America was $9.2 billion. Since the market is expected to grow massively in the years to come, NexTech is confident that the high-level holographic display technology is both ready and required to be deployed in the cannabis market.
The CEO of ARHT, Larry O’ Reily said that while the company is making great progress in the field of traditional retail, events, education, and entertainment industry, it also thinks that the marijuana market is providing a big opportunity to its technology. O’ Reily further added that they are excited to team up with NexTech and be a part of this new development.
The CEO of ARHT seemed confident that the telepresence technology and holographic displays of his company will serve as a natural fit for taking the marijuana retailing to entirely a new level.