Last Close: October 9, 2009 - $0.14
Shares Issued: 61,586,627
CALGARY, Oct. 12 /CNW/ - Maple Leaf Reforestation Inc. ("Maple Leaf" or the "Company") is pleased to announce that it has received revenue for the month of September totaling approximately $156,135 Cdn (983,652 Rmb). The revenue was received in connection with the following:
Inner Mongolia Greenhouse
In September the Company shipped 498,960 Blue Spruce seedlings at a purchase price range of approximately $0.19-0.29 Cdn (1.20-1.80 Rmb) for total revenue of approximately $131,706 Cdn (829,752 Rmb). The seedlings were shipped to various non-contracted customers in Kekouban Village, the town of Yulin, the city of Huhehaote and the town of Yangbai, all in the province of Shanxi.
Hunan Organic Fertilizer Plant
In September the Company shipped 64 tons of fish meal at a purchase price of approximately $382 Cdn (2,405 Rmb) per ton for total revenue of approximately $24,142 Cdn (153,900 Rmb). The fish meal was shipped to various non-contracted customers in the Guangxi Region.
Xinjiang Alfalfa Operation
No alfalfa shipments were made during the month of September, as the Company was accumulating working capital to purchase the necessary raw materials. Funds were sent to the Alfalfa Operation upon closing of the Company's recent convertible debenture private placement.
Raymond Lai, President & CEO of Maple Leaf comments, "We have now closed and received final approval for our convertible debenture private placement, which was excitingly oversubscribed. The funds from this offering will finally allow us to ramp-up and reap the benefits of our Alfalfa Operation. In addition, some of the funds will be used to grow our production at the Organic Fertilizer Plant. We are very much looking forward to having all three of our operations contributing meaningfully to our revenue production."
About Maple Leaf Reforestation Inc.
Maple Leaf is a Canadian company operating four environmental related projects in China:
1. a large-scale forest nursery in Inner Mongolia which is focused on
growing value-added tree seedlings and alfalfa feedstock alongside
landscaping and nursery products;
2. a multi-faceted Xinjiang Yellowhorn tree project which will provide
for the manufacture of bio-diesel fuel and cooking oil and complement
the fabrication of the ever demanding nutritious alfalfa feedstock;
3. an organic fertilizer plant in the Hunan Province which will produce
environmentally friendly bio-organic fertilizer; and
4. a Flexi-Pipe distribution network to serve the oil and gas industry
and other renewable energy industries.
Maple Leaf is a wholly-owned foreign enterprise which allows the Company
to control 100% of the direction and operations of the company in China while
permitting the cash generated from operations in China to flow back to Canada.
The TSX Venture Exchange does not accept 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. 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 China's seedling industry; 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 that may affect Maple Leaf's operations, including, but are not limited to: the impact of general economic conditions; industry conditions; government and regulatory developments; seedling 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 transpire or occur, or if any of them do transpire or occur, what benefits Maple Leaf will derive there from.
Maple Leaf maintains a forward-looking statement database which is reviewed by management on a regular basis to ensure that no material change has occurred with respect to such forecasts. The Company will publicly disclose such material changes to its forward-looking statements as soon as they are known to management.
SOURCE MAPLE LEAF REFORESTATION INC.
For further information: For further information: regarding Maple Leaf Reforestation Inc., visit www.mlreforestation.com or contact: Maple Leaf Reforestation Inc., Raymond Lai, Chairman, President & CEO, Tel: (403) 668-7560, Fax: (403) 250-2534, E-mail: email@example.com