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Default New Age Farm Inc. (CSE:NF) Signs Second Tenant Lease in Washington State

New Age Farm Inc. (CSE:NF) Signs Second Tenant Lease in Washington State

New Age Farm Inc. (CSE:NF) (“New Age Farm” or the “Company”) is pleased to announce that it has signed a second lease agreement with a private Washington State Tier Three licensee (the “Tenant”). The Tenant will lease up to 21,000 square feet of I-502-compliant space from New Age Farm Washington LLC.

Carman Parente, President of New Age Farm commented, “With the addition of this second tenant lease for the Washington Property, our business model is now well underway. We will continue to execute on our land banking and specialty property development plans to serve the needs of tenant-growers in the US and Canada. In the US market, we are closer to two important goals: our “Green Campus” business model and revenue generation.”

Tenant occupancy is anticipated in the second half of 2015, following completion of certain building and property improvements and is subject to New Age closing escrow on the property (see News Release dated November 5, 2014).

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.

About New Age Farm
New Age Farm has two wholly-owned subsidiaries, the first in British Columbia, Canada and its second in Washington State, USA. Its US subsidiary, New Age Farm Washington LLC (“New Age Farm WA”), has entered into escrow for the purchase of a 2.69 acre property permitted for both agricultural and light industrial processing uses; the site contains two buildings totaling 6700 ft2. The site is suitable for expansion, with ample room for the construction of additional buildings. New Age Farm WA has one lease in place with a with a private Washington State Tier Three licensee with expected tenant occupancy in early 2015.


Through its Canadian subsidiary, NHS Industries Ltd. (“NHS”), New Age Farm owns a five and a half acre greenhouse facility in the lower mainland of BC with a 48,000 ft2 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. 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.


Both campuses are located minutes from major Canada – USA border crossings. New Age Farm intends to lead the creation of beta sites for sustainable growing capabilities as well as minimizing all carbon footprints with regard to all on-site operations. For further information about New Age Farm, please consult the Company’s profile on SEDAR at Welcome to the SEDAR Web Site / Bienvenue au Site Web SEDAR or its Listing Statement available at the Canadian Securities Exchange website at Object moved or visit the Company’s website at www.newagefarminc.com.

ON BEHALF OF THE BOARD OF DIRECTORS
Carman Parente
President and Chief Executive Officer


For further information go to our website www.newagefarminc.com

or contact Mr. Richard Cindric @ (604) 719-1796
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