New Age Farm Sumas Green Campus Update
October 15 2015 - 6:15AM
Access Wire
VANCOUVER, BC / ACCESSWIRE / October 15, 2015 /
New Age Farm Inc. (CSE:NF) (OTC:NWGFF) (FSE: ONF)
(www.newagefarminc.com)
(#NWGFF) ("New Age Farm" or the "Company") is pleased to announce
the contractor has completed the installation of security fencing
at its Sumas, WA green campus as described in our July 16, 2015
news release. The fencing, required under Washington State
Initiative 502 regulations, is eight feet high and combines mesh
and fabric fencing panels with a barbed-wire fencing topping to
create an anti-climb security fence that blocks view into the green
campus and surrounds the entire facility perimeter to prevent
unauthorized access, as shown in the photos below.
Carman Parente, CEO, commented, "Now that the perimeter fencing
is in place, we can focus our efforts on the buildout for our first
tenant grower. We are looking forward to getting the Sumas green
campus up and running as soon as possible."
About New Age Farm
Through its wholly-owned subsidiary, NHS Industries Ltd.
("NHS"), New Age owns a five and a half acre greenhouse facility in
the lower mainland of BC with a 48,000 square foot greenhouse
facility, capable of growing 2.4 million 4" potted plants annually.
NHS is in the process of formulating innovative proposals for small
scale agricultural facilities for exploring multiple avenues for
cash flow processes. The facility is located minutes from three
major Canada - USA border crossings and direct routes to the lower
mainland west and to all points east and west along 16th Ave to Hwy
99 and to Hwy 1 make its location in South Langley an ideal hub.
NHS intends to become a beta site for sustainable growing
capabilities as well as minimizing all carbon footprints with
regard to all its on-site operations. This facility will meet a
growing demand in the Metro Vancouver and Fraser Valley areas to
help smaller growers become more efficient, more productive,
implement value added product lines, and reduce waste.
Through its Washington State subsidiary, New Age Farm owns a
second property that is located in Sumas, WA, where it intends to
offer fully built out turnkey service operations to licensed I-502
tenant-growers who will lease the facilities for production and
processing. With two leases already in place, operations in
Washington State are expected to begin as soon as the Company
completes its first build out.
About the Washington I-502 Marijuana
Market
In November 2012, the Washington State Liquor Control Board
("WSLCB") passed Initiative 502 ("I-502") pursuant to a vote by the
people of the State of Washington. I-502 authorized the WSLCB to
regulate and tax recreational marijuana products for persons over
twenty-one years of age and thereby created a new industry for the
growing, processing and selling of Washington State-regulated
recreational marijuana products. A recent WSLCB commissioned report
by the Rand organization suggests that there are currently up to
650,000 recreational marijuana users in Washington State, worth
approximately $1.25 - $1.5 Billion USD in annual sales.
For further information about New Age Farm, please consult the
Company's profile on SEDAR at www.sedar.com.
On Behalf Of The Board Of Directors
Carman Parente
President and Chief Executive Officer
For further information, please contact:
Investor Relations
Briggs Smith
813-438-5225
info@olibrigroup.com
or
ir@newagefarminc.com
WWW.NEWAGEFARMINC.COM
Follow us on social media!
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#NWGFF
The Canadian Securities Exchange has neither approved
nor disapproved the contents of this news release and accepts no
responsibility for the adequacy or accuracy hereof.
This news release contains forward-looking statements, which
relate to future events or future performance and reflect
management's current expectations and assumptions. Such
forward-looking statements reflect management's current beliefs and
are based on assumptions made by and information currently
available to the Company. Readers are cautioned that these forward
looking statements are neither promises nor guarantees, and are
subject to risks and uncertainties that may cause future results to
differ materially from those expected including, but not limited to
completion of planned improvements at both the Canadian and US
sites on schedule and on budget, the availability of financing
needed to complete the Company's planned improvements on
commercially reasonable terms, planned occupancy by the
tenant-growers, commencement of operations, the ability to mitigate
the risk of loss through appropriate insurance policies, and the
risks presented by federal statutes that may contradict local and
state legislation respecting legalized marijuana. These
forward-looking statements are made as of the date hereof and the
Company does not assume any obligation to update or revise them to
reflect new events or circumstances save as required under
applicable securities legislation. This news release does not
constitute an offer to sell securities and the Company is not
soliciting an offer to buy securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of such
jurisdiction.
This news release does not constitute an offer of securities
for sale in the United States. These securities have not and will
not be registered under United States Securities Act of 1933, as
amended, or any state securities laws and may not be offered or
sold in the United States or to a U.S. Person unless so registered,
or an exemption from registration is relied upon.
SOURCE: New Age Farm Inc.
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