VANCOUVER, B.C., Nov. 10, 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 it will implement the Plan of Arrangement with its wholly owned subsidiary, NHS Industries Ltd. ("NHS") approved by the Company's shareholders at its AGM (see News Releases dated September 22 and 30, 2016). The Company will prepare NHS facilities and infrastructure in Langley, BC in anticipation of Canada's recreational marijuana industry. Plan of ArrangementNew Age Farm and NHS entered into an arrangement agreement effective August 31, 2016 whereby New Age Farm would spin-off NHS, together with all its assets and liabilities, as a separate operating entity and NHS would operate the Company's Langley Property located in Langley, British Columbia (the "Arrangement"). In return, following completion of the Arrangement, Shareholders would hold one new share (each, a "New Share", collectively the "New Shares") in the capital of the Company and its pro-rata share of the post-consolidation NHS Shares to be distributed under the Arrangement for each currently held New Age Farm share. The New Shares would be identical in every respect to the present New Age Farm shares. Share Distribution Record Date The board of directors of New Age Farm have set the share distribution record date of the Plan of Arrangement at close of business on November 30, 2016 (the "Share Distribution Record Date"). Shareholders as of the Share Distribution Record Date will be entitled to receive the New Shares and the NHS Shares. Each shareholder of record on November 30, 2016 will participate in the Arrangement on a pro-rata basis and, upon completion of the Arrangement, will continue to hold substantially the same pro-rata interest they held in the Company prior to completion of the Arrangement. The New Shares will be identical in every respect to the shareholders' current New Age Farm shares; in addition, each New Age Farm shareholder will receive from NHS the number of common shares equal to the issued and outstanding common shares of New Age Farm held by the shareholder as of the Share Distribution Record Date, divided by an exchange ratio. The Arrangement was unanimously approved by the Shareholders at the AGM, and remains subject to final approval from applicable regulators. The Company provided full details of the Arrangement in an information circular that was mailed to the Shareholders and is available on SEDAR (the "Circular").