Last Close: December 2, 2009 - $0.115
Shares Issued: 61,836,627
CALGARY, Dec. 2 /CNW/ - Maple Leaf Reforestation Inc. ("Maple Leaf" or the "Company") is pleased to announce that its wholly owned Hunan Organic Fertilizer Plant has signed a distribution agreement with Mr. Wang Yonggui (the "Sales Agent") to sell a total of 2,000 tons of fish meal between December 10th, 2009 and December 31st, 2010.
Under the agreement:
- The Sales Agent will be responsible to sell 2,000 tons of fish meal
during the agreement term;
- The fish meal will be sold to the sales agent for approximately
$154 Cdn (1,000 Rmb) per ton (including the transportation fees). The
total revenue to Maple Leaf from this agreement will be approximately
$310,000 Cdn (2,000,000 Rmb);
- Maple Leaf will receive 45% of the payment upon delivery to the Sales
Agent and the balance after July, 2010;
- The Sales Agent will purchase at least 15 tons of fish meal from Maple
Leaf each time he makes a purchase (exceptions can be made under some
special circumstances); and
- The first shipment of 30 tons will be delivered to the Sales Agent in
The fish meal is produced at Maple Leaf's 21 acre Organic Fertilizer Plant. The fish meal has proved to be highly effective as customers have indicated that following consumption of the Company's product, the fish have grown 100% more in the first month than is typically expected in the fish farm industry in China.
Raymond Lai, President and CEO of Maple Leaf comments, "Fish meal sales have been a large part of our Hunan Organic Fertilizer Plant and have made a significant contribution to the Company's revenue in 2009. We plan to continue to expand the fish meal operations in 2010 by hopefully securing additional sales and distribution agreements as such opportunities become available. Our goal is to reach 10,000 tons of annual sales, which is the Plant's current production capacity."
Maple Leaf is a Canadian company operating five environmental related projects in China:
1. a large-scale forest nursery in Inner Mongolia which is focused on
growing value-added tree seedlings and nursery products;
2. an alfalfa feedstock operation that produced 10,000 tons in 2009
with great expansion potential and opportunity to build an alfalfa
crop cake processing plant;
3. 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;
4. an organic fertilizer plant in the Hunan Province which will produce
environmentally friendly bio-organic fertilizer; and
5. 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