Last Close: February 3, 2010 - $0.165
Shares Issued: 62,186,627
CALGARY, Feb. 4 /CNW/ - Maple Leaf Reforestation Inc. ("Maple Leaf" or the "Company") is pleased to announce that effective February 1, 2010, Mr. David Crombie has been appointed to the Board of Directors of the Company. Mr. Crombie is a Chartered Management Accountant who has an accomplished track record in the capital markets, having raised over $250 million for private real estate development. Since 1979, Mr. Crombie has been the President of Crombie & Associates, which has offices in Washington, San Francisco, Toronto, Vancouver, Calgary, Hamburg, London, Rome, Riyadh and Jeddah. The firm acts as a financial consultant to major international companies with respect to various developmental projects. As well, since 1999, Mr. Crombie has been the Principal and owner of DC Capital Inc, which provides Directorship and consulting services to various public and private companies.
In addition, since 2006 Mr. Crombie has been the President and Chief Executive Officer, as well as a director of Conserve Oil Corporation ("Conserve"), which is a specialized oil refining company in the renewable energy industry that provides environmentally friendly oil recycling solutions. Conserve is involved in various North American projects, including Little Dipper Holdings Ltd., which has oil collection facilities in Calgary, Edmonton, Red Deer, Grande Prairie, Fort McMurray, Lloydminster and Saskatoon. Conserve also has a joint cooperation with Orrco Oil Re-Refining Company, which has 16 waste oil recycling facilities throughout the states of Washington, Oregon, Montana, Nevada and Utah. Conserve is presently undertaking to expand its waste oil refinery operations into various international locations. More information about Conserve's projects can be located at the following websites: www.littledipper.ab.ca and www.orrco.biz.
Raymond Lai, President and CEO of Maple Leaf comments, "We are very excited about Mr. Crombie joining our Board as he brings many years of successful capital market experience in Canada and Germany and excellent connections within the renewable oil refinery industry."
Issuance of Additional Incentive Stock Options
Maple Leaf also announces that, pursuant to its "rolling" stock option plan and subject to TSX Venture approval, the Company has granted 2,800,000 incentive stock options to various directors, officers and consultants to purchase common shares in the capital stock of the Company.
Such options are for a term of three years, with 2,100,000 being issued at an exercise price of $0.125 per common share and 700,000 being issued at an exercise price of $0.15 per common share. The options shall vest upon grant. The granted options and any stock resulting from the exercise thereof are subject to a four-month hold period from the date of grant.
About Maple Leaf Reforestation Inc.
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