Future Farm – Augmented & Virtual Reality Confabulation

September 7, 2018

Future Farm Technologies Reveal More Details About NexTech Spin-Out

Back in June of this year Future Farm Technologies revealed that they would be distributing 11,000,000 common shares of NexTech AR Solutions Corp to shareholders of Future Farm on a pro-rata basis. Now, the company have revealed new information regarding this offering and what is planned moving forward.

Future Farm previously mentioned that the effective date of the spin-out was August 31st, 2018 and under the terms of the spin-out, any holder of record of Future Farm common shares as of August 30th, 2018 was entitled to receive approximately 0.086145 of a NexTech common share. The company issues shares to those eligible to receive them by rounding them up or down to the next whole number.

Now the company is seeking to list the common shares on the Canadian Securities Exchange (CSE) but mentions that their is no guarantee that the shares will be listed on any stock exchange. Those who are shareholders in Future Farm have been advised to keep in mind that they will automatically be giving shares in NexTech in relation to the number of shares they currently own. Those who hold Further Farm shares in brokerage account that use a nominee such as CDS & CO, will find that the NexTech shares have been issues to the nominee. It is then their responsibility to notify broker participants as shares are to be allocated in accordance with the broke’s records.

NexTech are, for those unaware, the augmented reality (AR) company that Future Farm plans to spin-off and is planning to focus their efforts on the advancement and development of its revenue generating portfolio of gaming and all-in-one apps following the share distribution.

Back in July it was revealed that NexTech had signed a deal to bring ARHT Media’s holographic technology to the cannabis industry. The deal will see NexTech receiving an exclusive worldwide license with the company also agreeing to purchase a minimum of 12 holographic display units per year for the next five years, with ARHT earning royalties from the commercial use of each display.

As the spin-out of common shares continues and NexTech further their development efforts VRFocus will be sure to bring you all the latest in the future.

June 24, 2018

Future Farm Announces Distribution Of NexTech AR Solutions Shares Is Under Way

Future Farm Technologies has announced that its formal process for completing the distribution of 11 million common shares of NexTech AR Solution Corp to the shareholders of Future Farm on a pro-rata basis is is now under way. The process started last week with a Notice of Meeting and Record Date for an Annual General and Special Meeting to take place on July 26th, 2018.

The distribution of the NexTech common shares is to be completed pursuant to a court-approval Plan of Arrangement with the next step to be an application for an Interim Order from the British Columbia Supreme Court. If all of this goes through and is completed, Future Farm Shareholders will receive a total of 11 million common shares of NexTech while maintain their current ownership interest in Future Farm.

NexTech is the augmented reality (AR) company that Future Farm plans to spin off and is planning to focus their efforts on advancement and development of its revenue generating portfolio of gaming and all-in-one apps following the share distribution. The company announced back in May that they had secured an exclusive five-year license to the eLearning education and training platform developed and offered by edCetra Training Inc, with the option to purchase the company for a one year period.

With an already established portfolio of successful product and strong relations with a number of clients, NexTech is expanding their AR technology products and working with a number of clients to enhance marketing services through its native AR platform and AR learning model. This will ensure a steady stream of revenue for the company and help them continue to develop new and exciting AR technology solution.

Talking back in May, NexTech’s management said that they anticipate that the application of AR for use in training and education will be a key factor in major growth for the AR industry. With the distribution of 11 million common shares and the continued commit to growing their product lineup and solutions, NexTech are currently in an exciting period that will see the business surely grow.

For more on NexTech and Future Farm in the future, keep reading VRFocus.

May 26, 2018

Future Farm’s NexTech AR Solutions Acquires Exclusive License To edCetra’s Training Platform

Future Farm Technologies have announced that augmented reality (AR) company NexTech AR, which Future Farm plans to spin off, has secured an exclusive five-year license to the eLearning education and training platform developed and offered by edCetra Training Inc. In addition to this, NexTech will have the option to purchase edCetera for the next 12 months.

NexTech issued edCetra 100,000 common shares of NexTech stock at a deemed valye of $0.25 (CDN) per share as the consideration for the exclusive license. NexTech has the option to purchase edCetra at the consideration of an additional 100,000 shares, provided that the value of these shares at the time of the purchase is at least $0.25 (CDN) per share.

The eLearning education and training platform that edCetra develop has been used by a number of Fortune 500 companies such as Imperial Oil, Bombardier and Staples, along with the Library of Congress and many others to educare and train employees. By licensing this technology, NexTech are able to accelerate their business plan and will spend the next few months customizing the platform to create an AR training and education platform for the cannabis industry, with a plan to expand into other industries in the future. The new AR platform is expected to launch within the next three months.

edCetra logo

NexTech’s management said that they anticipate that AR as a training and education tool will be key to major growth for the AR industry. The company feels they will have a first mover advantage since their platform will provide customization and upgrades to an existing platform. Within the edCetra license come a number of features and functionality including support for multiple file types, pay as you go and subscription model support, support for multiple business models supporting retailers, wholesalers and publishers, the freedom to set any piece for content and out of the box reporting.

“I am excited to be a part of this next generation platform and help NexTech’s technology bring AR to education and training. I see a lot of demand and a bright future for this.” said Reuben Tozman, President and Founder of edCetra.

For more on NexTech and edCetra AR learning platform in the future, keep reading VRFocus.

April 4, 2018

Future Farm AR Company Announces Closing Of Private Placement

Future Farm previously announced that it was planning to spin off its interests in augmented reality (AR) into a new company, titled Nextech AR Solutions. It has now been revealed that it has closed a Private Placement in preparation for its CSE listing.

The Private Placement was oversubscribed and closed on $2,700,000 (CDN). Nextech are planning to issues 12,000,000 new shares to Future Farm, the majority of which will be issued pro rata to Future Farm shareholders. In expectation of the continued growth of the AR market, Future Farm expects Nextech to begin trading from sometime in June 2018.

“We believe that to maximize shareholder value, spinning off this asset is in the best interest of our shareholders,” comments William Gildea, CEO of Future Farm. “Nextech occupies a valuable niche in the cannabis market, providing augmented reality-enhanced packaging as well a virtual budtender platform for dispensaries.”

Nextech AR solutions sold 10,852,000 units for a price of $0.25 per Unit. Each unit will consist of one common share of the issues and one common share purchase warrant with each warrant entitling the holder to buy one common share at a price of $0.50 per Warrent share. This will be available for 2 months from the period of issue.

Future Farm has been working in the medical and agricultural industry, introducing new business models and patented AR technology. The company has previously worked with ARE1 to merge AR and advertising into the cannabis industry using a platform called CannaCube Live. The aim of this was the advertise and educate medical personnel, dispensaries, insurance companies and patients.

The company also worked to produce other AR projects with well-known brands and businesses such as Coca-Cola, Ford, Kelloggs, Disney, Toyota and AT&T and hopes to continue its work through Nextech AR solutions.

Further news and information on development in AR will be right here on VRFocus.