New Age Farm to Purchase Property in Washington State
Vancouver, BC / ACCESSWIRE / November 5, 2014 / New Age Farm Inc. (CSE:NF) ("New Age" or the "Company") is pleased to announce it has entered into escrow for the purchase of a 2.69 acre parcel of land in Whatcom County, Washington State for a total purchase price of US$289,000.
The property meets all the Company's criteria for its planned expansion into Washington State: it is permitted for both agricultural and light industrial processing uses, currently contains two buildings totalling 6700 square feet and has sufficient room for expansion. The site is suitable for expansion, with ample room for the construction of additional buildings.
The Company has made a non-refundable US$10,000.00 payment into escrow. The Company now has up to 120 days to complete its due diligence. During this due diligence period the Company will work with its architect to develop future plans for the property that will include multi-user capabilities.
Carman Parente, CEO of New Age, commented that, "The addition of this property in Washington State will help the Company achieve its strategic goals and objectives to facilitate expansion of New Age's small-scale processing facilities that will meet the needs of smaller producers on both sides of the border."
About New Age
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 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. 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 along 16TH Ave to Hwy 99 and to Hwy 1 make its location in South Langley an ideal hub. NHS intends to become a beta site for sustainable growing capabilities as well as minimizing all carbon footprints with regard to all its on-site operations. 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. For further information about New Age, please consult the Company's profile on SEDAR at www.sedar.com or its Listing Statement available at the Canadian Securities Exchange website at www.theCSE.com.
On Behalf Of The Board Of Directors
Carman Parente
President and Chief Executive Officer
For further information, please contact:
Carman Parente
604-880-3144
The Canadian Securities Exchange has neither approved nor disapproved the contents of this
news release and accepts no responsibility for the adequacy or accuracy hereof.
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. See the cautionary statement "Forward-Looking Statements" and "Risk Factors" in the Company's Listing Statement dated August 1, 2014 available under the Company's profile at www.thecse.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
SOURCE: New Age Farm Inc.