New Age Farms Oroville Operations Begin

CEO Carman Parente stated, “We are really excited to see the first plants go in the ground and are looking forward to a successful growing season. This first crop signals a new phase for New Age Farm and we are ready to accept expressions of interest from new tenant-growers who may wish to take advantage of our innovative turnkey model.”

New Age Farm is in the business of providing fully built out turnkey farming solutions for growers of high value luxury crops. We have operations in Washington State and British Columbia and are interested in bringing our innovative model to other jurisdictions with legalized medical and/or recreational marijuana.

Through its Washington State subsidiary, New Age Farm owns two properties, one in Sumas, WA, and the other in Oroville, WA where it can offer fully built out turnkey service operations to licensed I-502 tenant-growers who lease the facilities for production and processing. With multiple leases already in place, first tenant-grower operations in Washington State have begun and the build out of facilities continues for additional tenant-grower operations for current and new lessees.

In November 2012, the Washington State Liquor Control Board (“WSLCB”) passed Initiative 502 (“I-502”) allowing the WSLCB to regulate and tax recreational marijuana products for persons over twenty-one years of age, thereby creating 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.

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 intends to become a beta site for sustainable growing capabilities and to minimize all carbon footprints from its on-site operations. This facility is intended to 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. 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 via Highways 1 and 99 make its location in South Langley an ideal hub.