FUTURELAND CORP. (OTCMKTS:FUTL) Files An 8-K Other EventsItem 8.01. Other Events.
FutureLand Corp. (FUTL) announces today that it is in the process of applying for Medical Marijuana Treatment Center (MMTC) license in the State of Florida. Under the new regulations, enacted on November 8, 2016, Florida will accept new applications for Medical Marijuana Treatment Centers (MMTC) — entities that acquire, cultivate, possess, process (including development of related products such as food, tinctures, aerosols, oils, or ointments), transfer, transport, sell, distribute, dispense, or administer marijuana, products containing marijuana, related supplies, or educational materials to qualifying patients and caregivers.
The legislation paves way for 10 more medical marijuana treatment centers that will open by Oct. 3, 2017. When 100,000 new eligible patients are added to the patient registry, another license for MMTC will become available to apply for. The state will be opening the application period for Medical Marijuana Treatment Center sometime after July 2017.
The Company has been in discussion with partners around the State and the Country to begin the application process for the Medical Marijuana Treatment Center (MMTC) license in the State of Florida. The Company will partner immediately with its sister companies; HempTech Corp for cultivation expertise and technology – CB Scientific for testing, extraction technology, formulation and delivery devices – and Biotica Pharmaceutical for medical research and discovery. The Company expects to receive one (or more) of the available licenses in the coming month, if not, it will receive one with the expansion of the future licensing.
According to Forbes, Colorado and California may be ground zero for medical marijuana, but Floridacould quickly catch up. A new report from New Frontier Data with market dataprovided by Arcview Market Research projects that Florida's market will grow to $1.6 billion by 2020 at a compound annual growth rate of 140%. That would make it half the size of California's projected$2.6 billion marketand top the projected $1.5 billion medical marijuana market for Colorado.
About FUTURELAND CORP. (OTCMKTS:FUTL)
FutureLand, Corp., formerly known as AEGEA, Inc., operates its business through its subsidiary, FutureLand Properties LLC. FutureLand Properties LLC is an agricultural land lease company catering to the industrial hemp, legal medical marijuana and recreational cannabis market. The Company focuses on approximately 240 acres of prime property in southern Colorado. The Company has other developmental land use plans for other projects being pursued as well. The Company has not generated any revenues.