MAPLE LEAF GREEN WORLD INC.
May 18, 2016 – $0.12
CALGARY, May 18, 2016 /CNW/ - Maple Leaf Green World (MGW-V) ("Maple Leaf" or the "Company") announces that Maple Leaf's management has recently visited its California greenhouse facility and is satisfied with the results of its inspection. Management has discovered its greenhouse personnel is able to shorten the growing period in the Company's flowering greenhouse from 3 to 2 months, thereby allowing Maple Leaf to plan for five harvests each year, instead of the four harvests previously expected. Assuming five harvests, one greenhouse should generate approximately US$1 to $2 million in gross revenue annually, depending on prevailing market prices and the quality of the product. The Company's first crop is expected to be harvested in early July 2016.
Based on its experience with the construction of its first greenhouse, the Company is now planning to build a second greenhouse at its existing site in California. The first step in this process involves the construction of a mobile home at the site and an application for additional electricity supply, as required by local county regulations. Once additional electricity supply is secured, construction of the second greenhouse can be started. The Company estimates the entire construction process will take about three months and anticipates the costs of construction will be fully funded from working capital and/or cash flow from operations. Once constructed, operations at the new greenhouse will be co-ordinated with ongoing operations at Maple Leaf's initial greenhouse facility.
"During our recent tour of the Company's facilities in California, we found the plants are flourishing and growing quickly. Our Chief Grower and his crew are very experienced, dedicated and hard working; they follow our operating protocol rigorously, fully incorporating the latest advancements in greenhouse technology and using new organic fertilizing techniques to full advantage. That is why we can have 5 harvests a year instead of 4. This significantly increases the Company's revenue potential, as we look forward to our first harvest and the beginning of major sales revenue stream in the Company's history. We are so proud and thankful to have a team of such high quality on board." said Raymond Lai, President & CEO of Maple Leaf.
For further information regarding Maple Leaf Green World Inc., Please visit www.mlgreenworld.com.
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 to set up a growing facility.
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.
4. Renewable Energy - it pursues various renewable energy projects around the world, including Yellowhorn in China which would provide valuable Yellowhorn seeds and ultimately oil from such seeds for the manufacture of bio-diesel fuel and premium healthy cooking oil.
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