New Age Farm (CSE:NF) has completed a 5,600 square foot greenhouse cannabis production facility at its Oroville, Washington Green Campus, expected to begin November 30, 2016.
As quoted in the press release:
The Tier 3 license allows the tenant-grower to produce and process marijuana, producing up to 30,000 square feet of plant canopy in the facility compound. The Master Growers estimate that the initial harvest date will be approximately 90 days from the start of seed planting.
New Age Farm’s Master Growers have over 52 years’ combined experience in the cannabis industry, with a proven track record for quality and consistency in the production of cannabis under commercial growing conditions. The Master Growers are expert in the specific needs for light, nutrition and feeding of cannabis plants, and understand and establish the ideal growing conditions, methods and media to produce a successful crop. As a result of the Master Growers’ carefully designed planting and harvesting rotation program, tenant-growers can expect to harvest a continuous crop every 30 days after the initial 90 day planting.
New Age Farm’s newly completed expansion, when at full capacity, will allow the facility to significantly increase the tenant-growers’ cannabis production capabilities, and, is designed to increase total production capacity to approximately 1,600 pounds of flower per month. At current estimated average sale prices of marijuana in Washington of US$1,250 per pound, this volume of production would support approximately $24 million in flower sales per year.