Sizzler Company Profile
Through its Washington State subsidiary, New Age Farm owns two properties, one located in Sumas, WA, and the other in Oroville, WA, where it offers fully built out turnkey service operations to licensed I-502 tenant-growers who will lease the facilities for production and / or processing. With three leases already in place, operations in Washington State have begun and will expand further as the Company completes its build outs. In compliance with state regulatory requirements, New Age Farm’s facilities feature 24 hour security that enhances the safety and security of the community, our tenant-growers and their operations.
All New Age Farm’s tenant-growers hold either Tier 2 or Tier 3 licenses allowing them to produce and / or process marijuana for sale at wholesale to marijuana processor licensees and to other marijuana producer licensees. A Tier 3 license allows for between ten thousand square feet and thirty thousand square feet of dedicated plant canopy while Tier 2 licensees can have up to ten thousand square feet of dedicated plant canopy. Revenue is generated on a base lease rate and the level of service that the tenant-grower requires for its production and / or its processing needs.
New Age Farmn is an agricultural services company that is here to help you grow your future. They offer unique turnkey growing infrastructure and services for licensed growers and processors of luxury crops at our green campuses in Washington State and British Columbia. Investors have a unique opportunity to get in on the ground floor of a new and burgeoning industry by investing in their unique and carefully managed business model designed to capitalize on the needs of this emerging sector.
They currently have three agri-campuses located near each other on either side of the Canada-US border in prime agricultural areas. Their Canadian clients will be able to take advantage of their superior greenhouse facilities, value-added processing capabilities and warehousing capacity located in Langley BC to grow, process, warehouse and ship products suited to North America’s growing specialty food industry. Not only will the Langley campus serve the needs of specialty growers, it will be optimized and ready to go for tenant-growers who enter the marijuana growing and processing industries as Canada moves toward legalized marijuana.
Two campuses in Washington State – one in Sumas and one in Oroville — are capable of welcoming specialty producers as well as licensed marijuana growers. Entering the luxury crop industry is expensive, from start-up costs through to ongoing production and processing; financing a marijuana grow operation is challenging. For New Age Farm’s tenant-grower clients, it is simple. Their clients enter a fully-built, commercial-scale operation with no up-front investment required. Once a Washington State grower has an I-502 license, all he or she has to do is show up, flip the switch and they are in business. New Age Farm takes care of the rest.
New Age Farm is committed to environmental sustainability and their campuses are optimized for low-carbon, sustainable operations aimed at reducing growers’ operating costs and carbon footprint while at the same time generating superior profits for all their stakeholders.
New Age Farm Green Campuses
New Age Farm currently has three campuses, Oroville, WA, Sumas, WA and Langly, BC.
Phase 1 Oroville
Located in Washington State “Okanogan” region, the Campus spans 4.5 acres.
There are currently two tenants on facility;
One tenant is a Tier 2 production only licensee that is finishing off their first harvest of the year.
Second tenant is a Tier 3 production and processing licensee going through it’s final stages of build out that will allow them to grow and process up to 30,000 sq ft of canopy space.
This tenant has already planted seeding for approximately 400 plants in a 5,600 square feet greenhouse.
Located in an established agricultural area, New Age Farm’s Sumas, Washington Campus spans 3 acres and is home to 6700 square feet of existing agricultural buildings. The property meets the zoning requirements for already licenced Tenant Growers to cultivate marijuana plants. Site preparations have already begun. They have signed one Tier 3 Tenant Grower, who will move in after the build-out is completed. New Age Farm will keep stakeholders up to date as the project progresses.
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 build outs 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.
New Age Farm owns 5.5 acres of prime agricultural land in Langley, BC, that includes over 48,000 square feet of greenhouse capacity and 80,000 cubic yards of saleable peat soil.
A Fully Built-out Turnkey Green Campus
Using the existing infrastructure, New Age Farm plans upgrades, additions, and improvements to its Langley Campus to create a state-of-the-art, fully built-out green campus that will attract tenant-growers of high yield, high cash value crops. The planned facility will make the Langley Campus the gold standard for green farming initiatives and will be an example of what can be accomplished in sustainable growing practices.
Planned upgrades to the Langley Campus include the addition of geothermal heat, solar hot water heating, a warehouse and complementary processing facilities. New Age Farm has recently begun the first preparations at the site for these planned upgrades and will keep stakeholders informed of progress via its regular news releases.
Financials & Filings
Visit: http://www.otcmarkets.com/stock/NWGFF/company-info to see complete details.
Sales of marijuana products in Washington state have for the first time surpassed $200 million in a quarter. The News Tribune reports residents and visitors bought more marijuana than ever before in the second quarter of 2016, based on an analysis of purchase and tax records from two state agencies. In the first quarter of 2016 January, February and March people spent $54.8 million more on spirits than marijuana, which includes the cost of the products and its associated taxes. By the second quarter April, May and June that gap closed to nearly $37 million. Those amounts include taxes levied by the state on those products. Spirits sales do not include wine and beer. Marijuana sales include all cannabis products, but not paraphernalia. Marijuana sales in the second quarter of 2016 amounted to nearly $212 million. Spirits sales in the same period amounted to almost $249 million. In July, the state closed medical marijuana shops, making all sales go through licensed recreational marijuana storefronts. Sales at retail pot shops shot up by $66.6 million in the third quarter of the year, to $278.6 million. Washington voters legalized recreational marijuana in 2012. Earlier this month voters in California, Massachusetts and Nevada approved recreational pot. Colorado, Oregon and Alaska have also legalized recreational marijuana.
GlobeNewswire – March 2, 2017
New Age Farm Issues $2 Million Contract to Start Site Preparation for Buildout at its Langley Facility
Accesswire – March 2, 2017
New Age Farm Issues $2 Million Contract to Start Site Preparation for Buildout at its Langley Facility
GlobeNewswire – January 25, 2017
New Age Farm Provides Corporate Update
GlobeNewswire – January 18, 2017
Oroville Campus Operations Update
Board Of Directors
Director, President & CEO
In 2005, Carman founded and became President of Natural Health Solutions, Inc., a private company that manufactures and distributes natural health supplements and nutraceuticals across Canada, in addition to his role as a partner in another active food processing venture.
Mr. Johnson is an attorney and trade-mark agent specializing in corporate law, commercial transactions and intellectual property. Mr. Johnson has several years’ experience at the senior management and board level in a variety of companies and not for profit organizations. Mr. Johnson holds a Bachelor of Arts (Hons.) from Queen’s University, a Master of Urban Planning (M.U.P.), Bachelor of Common Law (LL.B.) and a Bachelor of Civil Law (B.C.L.) from McGill University. He also completed the Directors’ Education Program at the Rotman School of Management, University of Toronto and has been certified at the Institute of Corporate Directors, (ICD.D), the International Executive Program for Mining Leadership at the School of Business, Queen’s University and completed the Business Leadership Program for In-House Counsel at the Rotman School of Management, University of Toronto and has been certified by the Canadian Corporate Counsel Association.
Anthony Chan, CA
Director & CFO
Anthony is a chartered accountant and has been the principal of his own chartered accountancy firm since 2004, providing audit services and financial consulting services to companies listed on the CSE and TSX Venture Exchange.
Director & Corporate Secretary
Lorraine brings over 20 years of management and administration experience to her role as Corporate Secretary. In the past ten years she has been corporate secretary to a number of public companies, guiding several through the listing process.
New Age Farm Inc.
1641 Lonsdale Avenue
North Vancouver, BC V7M 2J5
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