New Age Farm (NF-Cse) Completes Acquisition of Hemp Based CBD Company, We Are Kured LLC
Dec 19, '17 - NR
New Age Farm is pleased to announce the signing of a definitive agreement for the acquisition of the Denver based We Are Kured LLC (“We Are Kured”).
As announced in the company’s news releases of December 7 and December 12, We Are Kured is a hemp derived CBD company that has partnered with some of the top cannabis marketing, formulators, cultivators and product manufacturers in the global cannabis industry to develop, formulate and distribute a variety of hemp derived CBD products. We Are Kured’s plan and roll out strategy will be phased, a strategy which will allow it to develop sales channels and relationships while systematically building out a back end focused on hemp cultivation and extraction with the goal of full vertical integration. We Are Kured aims to be an industry leader in hemp cultivation, product formulation and manufacturing, extraction, online retailing and raw hemp bulk product wholesale.
We Are Kured’s first product will be a state of the art disposable atomizing vaporizer. This vaporizer will be pre-loaded with 250mg cartridges of the very best available CBD oil infused with specifically flavoured terpenes in Bubba Kush, OG Kush, Flo and Blue Dream. These flavoured terpenes will set We Are Kured’s vaporizers apart from the current competition in the market.
Mr. Benjamin Martch, President of We Are Kured stated, "My team and I couldn’t be more excited to be joining forces with New Age Farm. After many long discussions it has become clear that we share the same vision as the team at New Age Farm. Now that we have access to the capital markets and the associated benefits, we truly couldn’t be more excited about the future of our company."
Mr. Carman Parente, president and CEO of New Age Farm commented, “We are so very pleased to be bringing this opportunity to our stakeholders, to be at the forefront of the hemp industry with unique and well-placed CBD products from We Are Kured that offer the benefits of cannabis to consumers without the THC. This means that New Age Farm is positioned to participate in the lucrative legalized cannabis industry without the downside risk that comes from producing and growing cannabis. This is an amazing addition to our business portfolio and will generate revenues early on that can be reinvested in growing New Age Farm to reach its full potential.”
About New Age Farm
New Age Farm is an agricultural services company offering unique turnkey growing infrastructure and services for licensed growers and processors of luxury marijuana crops at three agri-campuses in Washington State.
In November 2012, the Washington State Liquor and Cannabis Board (“WSLCB”) passed Initiative 502 (“I-502”) pursuant to a vote by the people of the State of Washington. I-502 authorized the WSLCB to regulate and tax recreational marijuana products for persons over twenty-one years of age and thereby created a new industry for the growing, processing and selling of Washington State-regulated recreational marijuana products 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.
For further information about New Age Farm, please consult the Company’s profile on SEDAR at www.sedar.com.
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