New Age issues five million warrants to consultants WOW, this is very positive ... consultants taking warrants at .24 cents that they can't even exercise for 4 months in return for cash payment.
2016-11-28 07:08 ET - News Release
Mr. Carman Parente reports
NEW AGE FARM ISSUES SECURITIES
New Age Farm Inc. will issue certain warrants to its consultants that will allow the company to defer payment of certain obligations and acquire continuing services. The Company has issued an aggregate total of 5,000,000 warrants (the "Warrants") wherein each whole Warrant entitles the holder to acquire one Common share in the equity of the Company at a price of $0.24 per Warrant share, which Warrants will expire three years from the date of issuance. The issuance of the securities described in this news release are subject to acceptance by the Canadian Securities Exchange. All amounts quoted in this news release are in Canadian funds. Securities issued in connection with these transactions will be subject to a 4-month and one day hold period.
About New Age Farm
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 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.