VANCOUVER, British Columbia, Nov. 08, 2016 (GLOBE NEWSWIRE) -- New Age Farm Inc. (CSE:NF) (OTC:NWGFF) (FSE:ONF) ( www.newagefarminc.com ) ("New Age Farm" or the "Company") is pleased to announce that one of its licensed tenant-growers is preparing to harvest the first full crop to be grown at our Washington State Green Campuses. All New Age Farm's tenant-growers hold Tier 2 or 3 producer and / or processor licenses issued by the Washington State Liquor and Cannabis Board. Each Tier 3 licensee can grow up to 30,000 square feet of plant canopy and each Tier 2 licensee can grow up to 10,000 square feet of plant canopy. The current tenant harvesting is a Tier 2, production only licensee. Crops have the potential to be harvested every 90 days and upon completion of the build outs currently underway, the Company's tenant-growers will have the capacity to harvest up to 40,000 square feet of plants every 90 days. Carman Parente, President and CEO of New Age Farm commented: "This is a truly significant milestone for us; this first harvest will generate revenues that will help us move our strategic plan forward. The new facilities will allow us to increase planting, get more tenant-grower operations up and running and generate income that will increase shareholder value. These are exciting times for the Company and our stakeholders." About New Age FarmWashington StateThrough 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.