CALGARY, Oct. 25, 2016 /CNW/ - Maple Leaf Green World (MGW-V) ("Maple Leaf" or the "Company") announces that it has retained the services of a San Diego based law firm to assist the Company in obtaining a cultivation license from the San Diego County under the MCRSA (Medical Cannabis Regulation and Safety Act) and/or AUMA (Adult Use of Marijuana Act). This law firm will also assist the Company with the identification of land parcels in San Diego County which have a higher likelihood of satisfying applicable licensing requirements under the MCRSA and/or AUMA. Currently, Maple Leaf is reviewing several parcels of land to determine their suitability for the Company's plans in San Diego County.
The sale of cannabis in San Diego County was approved two years ago and the cultivation of cannabis was legalized in early 2016. It is estimated that over 100,000 patients under the MCRSA reside in San Diego County, which is also a popular international tourist destination. These factors, together with California's upcoming vote on AUMA in the November election, present the Company with a great opportunity to advance its expansion plans in California.
"While the harvesting of our first 2 crops is continuing at our California greenhouse facility and our investigation of licensing opportunities in Nevada is progressing, the prospect of acquiring valuable land in the San Diego area before November 8th is another boost for our expansion plans in California." said Raymond Lai, President & C.E.O. of Maple Leaf.
In addition, the shares for debt settlement announced on September 29, 2016 have received final approval from TSX Venture exchange. Under the terms of the settlement, the Company will issue an aggregate of 270,834 shares from treasury, which will be subject to a four month hold period.
For further information regarding Maple Leaf Green World Inc., please visit the www.mlgreenworld.com. Latest photos for the on-going harvesting at the Company's California greenhouse facility have been posted to the Company's 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:
1. 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.
2. 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.
3. 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, [email protected], www.mlgreenworld.com