Vancouver, British Columbia--(Newsfile Corp. - October 7, 2016) - New Age Farm Inc. (CSE: NF) (FSE: ONF) (OTC Pink: NWGFF), which offers unique turnkey growing infrastructure and services for licensed growers and processors of luxury crops, has announced a non-brokered private placement. The private placement, of up to $1 million, is priced at $ 0.10 per unit and consists of 1 share and one-half a warrant, with each full warrant exercisable at $0.20 for a twelve-month period.
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The company has three agri-campuses located near each other on either side of the Canada-US border in prime agricultural areas.
New Age provides clients with a fully-built, commercial-scale operation with no up-front investment required. All a grower needs to do is show up, flip the switch and they are in business
Through its Washington State subsidiary, New Age owns two properties, one located in Sumas, and the other in Oroville, 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 three leases already in place, operations in Washington State have begun in Oroville.
Washington State has approved recreation marijuana products for persons over 21 years of age. A Washington State commissioned report suggests that there are currently up to 650,000 recreational marijuana users in the state, worth approximately US$1.25 to $1.5 billion in annual sales.
Through its wholly-owned subsidiary, NHS Industries Ltd., New Age owns a five and a half acre greenhouse facility in Langley, British Columbia with a 48,000 square foot greenhouse facility, capable of growing 2.4 million 4" potted plants annually.
The shares are trading at $0.10 and with 64.2 million shares outstanding, the company is capitalized at $6.4 million.
For more information, please visit the company's website www.newagefarminc.com, contact Carman Parente, President and CEO, at 604-889-5200 or email cparente@newagefarminc.com.
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