Recently, both the medical marijuana sector and New Age Farms (CSE:NF)(OTC:NWGFF) (FSE:ONF) have been on a roller coaster ride. The sector itself is hot and on another upswing as stocks keep pushing forward along with more States legislating the industry. According to Business Insider, here is where medical marijuana is legal: click here
New Age seems to be following. Recently the stock was trading near $.10 and today it is trading at $.215 upon writing of this report.
Know that this stock is extremely volatile and has been proven to be so. There could be more violent swings ahead.
As we previously wrote, the company is focused on acquiring properties in Washington State by partnering with individuals/companies who hold commercial licenses but lack the facility and capital to grow. New Age Farms provides that. commercial growers receive a “turnkey” operation – it is a win-win for both parties involved.
Focusing on their flagship property in OroVille, WA – Green Campus
Citing Vin Maru of Invest in MJ:
Located in Washington State in the “Okanogan” region, the Green Campus property spans 4.5 acres. New Age Farm currently has two tenants on facility; one tenant is a Tier 2 production only licensee that is finishing off their first harvest of the year. A Tier 2 license holder will be allowed to grow between 2,000 – 10,000 square feet of canopy. Second tenant is a Tier 3 production and processing licensee that is going through its final stages of build out. This will allow them to grow and process up to 30,000 sq ft of canopy space.
To get an understanding of what a Tier3 license means, the total amount of usable canopy growing space for a Tier 3 licensed producer by the Washington LCB is 30,000 square feet. With 5,600 square feet of grow already underway, the commercial grower/tenant can expect to generate revenues once their first crop of 400 plants is harvested, most likely within a few months.
We will be discussing revenue numbers in a future report Q & A session with Mr. Parente.
According to their website, the company’s common shared issued is 105,573,317 and fully diluted is 134,140,199.
Due your own due diligence. New Age farms is an advertiser and we are biased.
Dr. Kal KoTECHa
On January 25th, president Carman Parente provided a corporate update. (please see below) As well
A great video presentation is located here: click here
if you are interested in the sector and company, we encourage you to watch the video.
On January 25th, New Age Farm Inc. has provided a corporate update and recap of its progress in 2016:
Carman Parente, president and chief executive officer of New Age Farm, extended his appreciation to New Age Farm’s shareholders: “I would like to extend my appreciation to our loyal shareholders, who have remained supportive through our growth phases. I would like to take this opportunity, as we enter this new year in Q1 2017, to summarize the activities and events of the past year. I encourage all our shareholders to read further for a recap of our progress in 2016 and to continue to visit our website throughout 2017 to follow our progress as we enter new phases in your Company’s development. We look forward to the upcoming year.”
About New Age Farm
New Age Farm is an agricultural property development company specializing in high-value crop markets and developing turnkey facilities for these specific markets. The company has full or partial ownership in all its facilities, totalling approximately 13 acres, and tens of thousands of square feet of growing structures and associated growing equipment.
New Age Farm currently has three projects in various stages of development associated with the legalization of the cannabis industry in Washington State and in Canada, including two facilities in Washington State and three associated tenant-growers in various states of operation. In 2016, shareholders approved the spinoff of the company’s Canadian operation into its own separate operating entity to be trading under its own symbol later in 2017.
Since completing the acquisition of the 3.9-acre Oroville property located in Oroville, Wash., in April, 2016, New Age Farm has moved forward with its plans to house multiple tenant-growers on the property. In June, 2016, the company completed its first buildout, and the first crops were planted over the summer, and the first harvest took place during October/November, 2016. The tenant-grower that harvested that crop is a Tier 2, production-only licensee.
Currently, all New Age Farm’s tenant-growers hold Tier 2 or 3 producer and/or processor licences issued by the Washington State Liquor and Cannabis Board. Each Tier 3 licensee can grow up to 30,000 square feet of plant canopy, and each Tier 2 licensee can grow up to 10,000 square feet of plant canopy. The Tier 3 licence allows the tenant-grower to produce and process marijuana, producing up to 30,000 square feet of plant canopy in the facility compound.
In 2016, the company completed a 5,600-square-foot state-of-the-art greenhouse cannabis production facility at its Oroville property, which is capable of growing, trimming, curing and storing product. The company also acquired an additional 21,000-square-foot greenhouse structure to complement its newly completed 5,600-square-foot state-of-the-art facility. 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 in the first quarter of 2017.
New Age Farm’s master growers reported that there was a delay with the Washington State Liquor and Cannabis Board inspection of changes made in November/December and the company’s I-502 Tier 3 licensed tenant-grower should have its initial harvest date by the beginning of the second quarter of 2017. New Age Farm’s master growers are part of a well-established retail network that includes over 50 outlets and, as part of their commitment to the success of the company’s tenant-growers, intend to facilitate introductions between New Age Farm’s tenant-growers and their retail network.
Stakeholders will be able to get a bird’s-eye view of the Oroville property when the company’s new video, currently under production, is released in the next few weeks.
The company acquired the Sumas property in 2014 and has completed certain required security upgrades to allow the company to lease the property to I-502-licensed tenant-growers. In 2016, the company acquired an equity partner in the Sumas property, which will allow the company to move forward with upgrades and buildouts at a faster rate. The company focused much of its energy on the Oroville property in 2016 and, with the acquisition of the equity partner, expects that 2017 will see further progress in Sumas while the company continues its efforts to bring Oroville to full capacity as soon as possible.
The company’s Langley property is owned by its subsidiary company, NHS Industries Ltd. In 2016, the company’s shareholders voted to spin out the Langley property as a separate business, allowing the company to separate its Canadian and U.S. operations. This will allow the company to pursue further business in Langley as Canadian recreational marijuana laws are under review, and it is expected that the government of Canada will legalize recreational marijuana in 2017. NHS expects to be ready to accept licensed tenant-growers when the new laws come into force.
When completed, the Langley property will house a state-of-the-art production, processing and warehouse facility where small-scale grower-producers of high-value luxury crops will be able to produce value-added products derived from their crops, increasing potential revenue for the growers and maintaining a continuing revenue stream for NHS. These clients will be able to use the NHS warehouse to store and distribute their products, thereby creating a one-stop facility for the company’s clients. Each of NHS’s Langley clients will be able to grow, process, store and distribute all from a single location, lowering their overhead and creating a continuing revenue stream for NHS from seed to sale.
What is to come in 2017
Spinout of NHS: The company expects to complete the spinout of NHS in 2017, with shares being distributed to shareholders of record as of Nov. 30, 2016, as soon as all the steps are completed. This is expected to take place closer to the end of the first quarter as the company is seeking to list NHS on a stock exchange. The required documents and filings are being prepared now.
Crops and facilities: The company’s master growers will continue to work with its tenant-growers to plant and harvest crops, and the company will update stakeholders as new crops are harvested. The company’s facilities will be built out as quickly as possible to allow New Age Farm to maximize stakeholder value. At the same time, it is important to the company, its tenant-growers and all its stakeholders that all facilities are well built and well run, so management is of the view that growth must be monitored and managed in such a way that the value for the company’s shareholders is maximized in the long run. New Age Farm intends to stay the course.
See inside New Age Farm: The company is working on a video presentation that will showcase its operations in Oroville and give stakeholders a chance to see inside New Age Farm for the first time. The company is also preparing a new investor presentation, which will be released to its website in the coming weeks. The video and investor presentation will both be released in the first quarter, and the company invites you to visit its website and sign up for its mailing list so you will be among the first to know when it is released.
Mr. Parente, president and CEO, offered the following in closing: “We are headed for growth and prosperity in 2017, and invite our stakeholders to continue this journey with us. We are excited for what the new year holds in store.”
© 2010 Junior Gold Report
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