DENVER, CO--(Marketwired - June 28, 2016) - FutureLand Corp. (OTCQB: FUTL), a leading provider of strategic real estate investment, grow facilities and material solutions to the global cannabis industry, announced today that it has signed a Funding and consulting Agreement with HempTech Corp (OTC PINK: HTCO) to raise money to fund 1,000 grow pods for HempTech in association with their exclusive Master Vendor Agreement to deliver containerized grow systems (grow.droid II) for Tinkerer's Obsession Labs (TOL). TOL, in conjunction with their partners, have agreed to purchase from HempTech a minimum of 1000 "grow.droid II" systems, between 2016 and 2022, to satisfy the growing need for cannabis among Indian reservations in North America. The estimated contract value for the agreed upon term between HempTech and TOL is north of $150M.
"This is a big deal for FutureLand Corp. The potential is quite substantial and could be worth 10's of millions a year in recurring revenue," said CEO of FutureLand Corp., Cameron Cox. "Initial cash infusions for helping to obtain the financing will certainly benefit us in the short run for growing marijuana, but the real payoff here will be establishing a massive network of grow pods throughout the United States and Canada that will convey large amounts of cash over time." The company has arranged to get 50% of the revenues HempTech receives on the back end, in perpetuity. If the grow pods network is sold upon maturation, then FUTL will participate in the sale in the same manner. "We wholeheartedly support what HempTech is doing and believe that their business model is rock solid."
"The ability for HempTech to rely on FutureLand to fund the containers and its implementation for this project is a huge plus. We can now focus on our core strength of building the grow.droids and a strong operations team," said John Verghese, COO of HempTech Corp.
FutureLand Corp's (OTCQB: FUTL) exclusive agreement with HempTech to obtain financing and consultation support for the life of the MVA agreement has been put in place to better service the agreement with TOL and make use of FUTL's extensive networking base. FutureLand is exploring many ways to increase revenue flow to the company, and assisting with financing and providing consultation services are right within its wheelhouse.
HempTech has designed distinct and uniquely customized containerized grow systems or grow pods under the brand "grow.droid II" for harsh climates such Canada and Alaska, but can and will be purposed for anywhere in the world. The grow.droid II includes all growing/drying/curing equipment with cutting edge CognetiX; controlled environment software platform providing full integration and automation of the grow operation including big data analytics.
FutureLand Corp expects HempTech to begin receiving orders for the first batch of grow pods "grow.droid II" by mid to late 2016.
About FutureLand Corp.
FutureLand Corp., a Colorado company, is a cannabis and hemp specialty zoned land leasing company formed to capitalize upon the emerging global cannabis market. FutureLand, focuses on target acquisition, zoning, license fulfillment, site plan preparation and financing of cannabis or hemp grow facilities throughout the United States. We give growers the opportunity to grow. We monetize through leasing the land, leasing the structures on the land, financing interest revenue and management fees associated with cultivation centers. FutureLand retains ownership of all the land and the structures. FutureLand leases to both medical marijuana, retail marijuana as well as industrial hemp growers. FutureLand does not currently grow, distribute or sell marijuana, but this is about to change. To request further information about FutureLand, please email us at email@example.com, log onto our website at http://www.futurelandcorp.com, or visit us on FB @ futurelandcorp and Twitter @futurelandcorp.
About HempTech Corp.
HempTech Corp (OTC PINK: HTCO), a Nevada corporation, is a provider of advanced Controlled Environment Agriculture (CEA) with sophisticated automation and analytical tools for the cultivators of legal industrial hemp and cannabis. We design and engineer specialized products using advanced sensors, process control techniques, big data aggregation, analytics and security solutions so cannabis growers can easily and effectively control every aspect of their operation. Through HempTech technologies, virtually every component of the plants' vegetative growth matrix and flower harvest is automated, documented and available in visible format both in real time and historically. This simplifies operations and ensures that the baselines set by the master grower are adhered to by the cultivation staff.
The Intelligent Automation Technology engineered for agricultural operations featuring CognetiX Cultivation Automation & Analytic Software drives improvement in productivity, efficiency, quality and sustainability. This industrial grade advanced Controlled Environment Agriculture (CEA) with analytical technology software, is being made available to small and large size cultivators that are not yet available in the Cannabis market. HempTech's goal is to provide cost effective and efficient cultivation of indoor cannabis through intelligent technologies and process control platforms.
HempTech's mission is to establish a reputation in the cannabis industry as a one-stop-shop that provides all the infrastructure elements required by growers in a manner that is fully integrated, state-of-the-art, and secure. Products include the SPIDer™ (Secure Perimeter Intrusion Detection), SmartSense™, SmartEnergy, and analytics dashboard CognetiX™ through which HempTech Corp. provides growers unparalleled data analysis capabilities to Know Your Grow! HempTech -- America's Future Taking Root Today.
To request further information about HempTech, please email us at firstname.lastname@example.org, log onto our website at http://www.hemptechcorp.com or visit us at our Facebook page https://www.facebook.com/hemptechcorp or on Twitter @hemptechcorp.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets. This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.