New Age Farm Inc (C:NF)
Shares Issued 77,877,259
Last Close 11/28/2016 $0.18
Tuesday November 29 2016 – News Release
Mr. Carman Parente reports
NEW AGE FARM ACQUIRES ADDITIONAL 21,000 FT2 GREENHOUSE FOR ITS WASHINGTON STATE CANNABIS FACILITY
New Age Farm Inc. is aquiring an additional 21,000-square-foot greenhouse structure to complement its newly completed 5,600-square-foot state-of-the-art facility announced on Nov. 24, 2016. This new greenhouse structure combines Cravo, Nexus and Hired Hand Green components. Its 14-foot-high trusses create an ideal environment for growing large plants, and the additional square footage will allow the company’s Tier 3 licensed tenant-grower to increase its capacity to 89 per cent of its canopy growing capabilities. The company anticipates that the additional grow capacity will be ready for operation within the next 60 days, thereby accelerating the company’s on-site master growers current production plan by allowing them to bring additional production on-line for the company’s tenant-grower several months sooner than previously planned. New Age Farm’s master growers also report that everything is on track to begin on schedule on Nov. 30, 2016, for New Age Farm’s I-502 Tier 3 licensed tenant-grower as previously announced with initial harvest date anticipated 90 days from the start of seed planting.
About New Age Farm
Through its Washington State subsidiary, New Age Farm owns two properties, one located in Sumas, Wash., and the other in Oroville, Wash., where it offers fully built-out turnkey service operations to licensed I-502 tenant-growers who will lease the facilities for production and/or processing.
Through its wholly owned subsidiary, NHS Industries Ltd., New Age owns a 5.5-acre greenhouse facility in the Lower Mainland of B.C. with a 48,000-square-foot greenhouse facility capable of growing 2.4 million four-inch potted plants annually.