Sept. 28, 2016 –$0.31
CALGARY, Sept. 28, 2016 /CNW/ - Maple Leaf Green World (MGW-V) ("Maple Leaf" or the "Company") announces that the first shipment of product from its initial harvest has commenced. Product shipments will continue for the next few weeks and Maple Leaf expects the selling price will be at the high end of the price range previously announced (see news release dated August 29, 2016).
The Company's second crop has been flowering for two weeks and the plants are now over six feet in height. It is expected that harvesting of the second crop will begin in mid-November, with product shipment taking place on or about mid-December. Once the harvesting and shipping of the first two crops has been completed, the Company will be in a better position to provide revenue projections for 2017 and beyond.
The seedlings for the Company's third marijuana crop will be cultivated in November, with harvesting expected in March 2017. From 2017 onward, Maple Leaf is targeting six harvests per year.
"This is a landmark achievement for Maple Leaf and is proof that the Company's growing methodology is successful. We are ready to expand our operations both in California and other American states. We believe we can capitalize on new opportunities available to us, pending the outcome of the upcoming referenda on the legalization of marijuana for recreational use in various jurisdictions in the United States." said Raymond Lai, President & C.E.O. of Maple Leaf.
For further information regarding Maple Leaf Green World Inc., please visit the www.mlgreenworld.com. Photos of 1st and 2nd crops have been posted at our website.
About Maple Leaf Green World Inc.
Maple Leaf is a Canadian company that focuses in the agricultural/environmental industry with four main areas of activity:
- Canadian MMPR - It pursues opportunities within the medical cannabis industry. If and when a MMPR license is obtained and through an agreement to lease a greenhouse facility with Woodmere Nursery Ltd., it will become a Canadian producer. It is currently seeking Canadian MMPR licensed producer status to grow medical cannabis in Canada for domestic consumption and export to approved countries.
- California Project – It pursues opportunities within the medical cannabis industry in various States that have legalized marijuana. It is currently in a joint venture with a California non-profit collective.
- Eco-Agriculture - it pursues several projects around the world. In China, it is focused on growing value-added tree seedlings and nursery products that assist with anti- desertification.
Neither the TSX Venture Exchange or its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this news release including (i) statements that may contain words such as "anticipate", "could", "expect", "seek", "may" "intend", "will", "believe", "should", "project", "forecast", "plan" and similar expressions, including the negatives thereof, (ii) statements that are based on current expectations and estimates about the markets in which Maple Leaf operates and (iii) statements of belief, intentions and expectations about developments, results and events that will or may occur in the future, constitute "forward-looking statements" and are based on certain assumptions and analysis made by Maple Leaf. There is no assurance that sufficient financing can be raised or that permits will be available to allow the Company to carry out its current projects on a timely basis.
Forward-looking statements in this news release include, but are not limited to, statements with respect to future capital expenditures, including the amount, nature and timing thereof; other development trends within the agricultural industry (and in particular, the medical marijuana business), and the status of, and ability to capitalize on, opportunities available to the Company as well as the business strategy; expansion and growth of Maple Leaf's business and operations and other such matters. Such forward-looking statements are subject to important risks and uncertainties, which are difficult to predict and may affect Maple Leaf's operations, including, but not limited to: the impact of general economic conditions; industry conditions; the availability of equity or debt financing; government and regulatory developments including availability of requisite licenses; product supply and demand; competition; and Maple Leaf's ability to attract and retain qualified personnel. Maple Leaf's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will occur, or if any of them do occur, what benefits Maple Leaf will derive therefrom.
SOURCE Maple Leaf Green World Inc.
For further information: Maple Leaf Green World Inc. Raymond Lai, Chairman, President & CEO, +1 (403) 452-4552, +1 (403) 452-6900, firstname.lastname@example.org, www.mlgreenworld.com