CALGARY, Oct. 5, 2017 /CNW/ - Maple Leaf Green World Inc. ("Maple Leaf" or the "Company") (TSX-V: MGW, OTCQB: MGWFF) is pleased to announce that, further to the Company's previous press releases dated June 20 and July 25, 2017, that BioNeva Innovations of Henderson, LLC ("BioNeva") has received conditional approvals from the City of Henderson, Nevada on October 3, 2017 (together, the "Approvals") for:
- obtaining a Medical Marijuana Establishment – Cultivation Facility – Class V (Cultivation) business license for BioNeva for a facility (the "Proposed Facility") to be located at 2000 Burns Road, Henderson, Nevada 89011 in the Pittman Planning and Eastside Redevelopment Area (the "Proposed Site"); and
- the requested change of location of the Proposed Facility from 585 North Gibson Road, Henderson, Nevada 89011 to 2000 Burns Road, Henderson, Nevada 89011 (the "Change of Location").
The Approvals is subject to certain conditions that BioNeva is required to comply with all related City of Henderson building codes. BioNeva, which has already received a State of Nevada Division of Public and Behavioral Health Medical Marijuana Establishment preliminary approval letter, will seek final approvals from the State of Nevada for the Establishment of the Proposed Facility on the Proposed Site after this approvals from the City of Henderson.
Upon receipt of final approvals from the City of Henderson and the State of Nevada, the Company will begin the process of acquiring all outstanding shares of BioNeva (the "Acquisition"). As contemplated by the letter of intent entered into between the Company and BioNeva on November 8, 2016 and revised on June 15, 2017, the Acquisition will allow the Company to complete the purchase of an existing cultivation permit held by BioNeva.
All architectural and engineering designs and drawings for the Nevada Site have been completed by a Florida-based engineering company. Construction of the Nevada Site may begin as soon as the Acquisition is completed.
For further information regarding Maple Leaf Green World Inc., please visit www.mlgreenworld.com.
About Maple Leaf Green World Inc.
Maple Leaf is a public Canadian company that focuses on the cannabis industry in North America. The Company currently operates three cannabis projects in British Columbia, California, and Nevada. With over ten years of extensive greenhouse management experience, it applies its eco-agriculture knowledge and cultivation technology to produce contaminant-free organic cannabis products. Maple Leaf's long-term objective is to produce cannabis oil and export its products to approved countries. The Company's common shares are listed for trading on the TSX Venture Exchange under the symbol "MGW" and on the OTCQB market under the symbol "MGWFF".
This press release includes certain statements and information that may be deemed "forward-looking statements" within the meaning of applicable Canadian securities legislation. Such forward-looking information relates to future events about Maple Leaf's intended business plans and operations. All information other than historical fact may constitute forward-looking information within the meaning of applicable Canadian securities legislation.
Generally, forward-looking information can be identified by the forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget" or "budgeted", "scheduled", "estimates", "projects", "intends", "proposes", "complete", "anticipates", or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might", or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties, and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to the development and operation of the Company's projects, risks associated with general economic conditions, adverse industry events, marketing costs, loss of markets, future legislative and regulatory developments involving medical cannabis, inability to access sufficient capital from internal and external sources and/or inability to access sufficient capital on favourable terms, the medical cannabis industry in Canada and the United States of America and the jurisdictions where the Company operates generally, income and sales tax and regulatory matters, competition, crop failure, currency and interest rate fluctuations, regulatory approvals including approvals from municipal, provincial county, state and federal regulatory bodies in Canada and the United States of America. Although the Company has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed, planned or intended. Accordingly, such list of factors are not exhaustive. Additional information on these and other factors which could affect the Company's operations and financial results are discussed in the sections relating to risk factors of our business filed in the Company's required securities filings with applicable securities commissions or other securities regulatory authorities and which may be accessed through the SEDAR website (www.sedar.com).
Specifically, this press release includes, but is not limited to, forward-looking information with respect to obtaining certain municipal and state approvals and anticipated approval timings pertaining to the Proposed Facility, Proposed Site, Change of Location, the construction of the Nevada Site and the timelines thereof, and completion of the Acquisition and the Existing Permit. Forward-looking information necessarily involves both known and unknown risks and uncertainties that could cause actual result to differ materially from those anticipated, including, but not limited to: failure to obtain the Approvals for the Proposed Facility, Proposed Site, Change of Location, or any combination or all of the foregoing; failure to complete the Acquisition and obtain the Existing Permit; failure to obtain, in a timely manner, failure to obtain any regulatory, stock exchange, or other required Approvals.
Although, the Company believes that expectations and assumptions reflected in the forward-looking information are reasonable, there can be no assurance that any forward-looking information will prove accurate, and actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. These forward-looking statements are made as of the date of this press release and the Company does not undertake to update any forward-looking information contained in this press release or that is incorporated by reference herein, whether as a result of new information, future events or results or otherwise, except in accordance with applicable securities laws.
Neither TSX Venture Exchange nor 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.
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, [email protected], www.mlgreenworld.com; Big Reach Media, Inc. (Investor Relations), Dale Shirley, Phone: (780) 632-6963, Mobile: (780) 964-4732, [email protected], http://www.bigreachmedia.com/