N.R.
Index Effective December 16 C.NF | 1 hour ago New Age Farm Added to CSE Composite Index Effective December 16 Vancouver, British Columbia (FSCwire) - New Age Farm Inc. (CSE:NF) (OTC:NWGFF) (FSE:ONF) (www.newagefarminc.com) (New Age Farm or the Company), is pleased to announce that New Age Farm has been added to the CSE Composite Index (the Index). According to the CSE, the Index was launched to measure the performance of equity securities listed on the CSE. The Company received the following notice from Robert Cook, Senior Vice-President Market Development for the CSE, Im pleased to advise that New Age Farm has been added to the CSE Composite Index effective at the close on December 16. The index is comprised of shares of listed companies that meet market capitalisation, trading and seasoning criteria established by the exchange. Carman Parente, CEO of New Age Farm stated, We are pleased to have been added to the CSE Composite Index; it demonstrates that our efforts to build value for our stakeholders are taking hold. More information about the Index can be found at the CSE website at https://thecse.com/en/trading/cse-composite-Index . About New Age Farm British Columbia 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. NHS is in the process of formulating innovative proposals for small scale agricultural facilities for exploring multiple avenues for cash flow processes. Anticipating Canadian federal government regulations regarding the legalization of cannabis for recreational purposes is one avenue that NHS will be exploring. NHS also intends to look at other high value crop possibilities such as hemp and its potential revenue generation. Managements intent is for NHS to achieve positive cash flow as expediently as possible, all the while developing and maintaining multiple product income streams that will foster profitability, rather than relying on a single market sector. Washington State 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 Farms facilities feature 24 hour security that enhances the safety and security of the community, our tenant-growers and their operations. All New Age Farms 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. About the Washington I-502 Marijuana Market 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 mor4e 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 Read more at https://www.stockhouse.com/news/press-releases/2016/12/16/new-age-farm-added-to-cse-composite-index-effective-december#dR1iZ0ZGCZxY15W2.99