(TSX-V: MGW, OTCQB: MGWFF)
CALGARY, June 14, 2017 /CNW/ - Maple Leaf Green World Inc. ("Maple Leaf" or the "Company") announces, further to its press release dated May 24, 2017, that the Company has signed up with Paramount Structures Inc. ("PSI") to commence construction immediately on its cannabis cultivation facility located in Telkwa, British Columbia (the "B.C. Facility").
The time schedule presented by PSI indicates that design, engineering, and procurement will begin immediately for the B.C. Facility, followed by site preparation in mid-August 2017. The estimated completion date of the building envelope is estimated to occur in early December 2017. The Company and PSI are working in conjunction to finalize the interior design of the B.C. Facility. It is expected that the interior construction and the installation of cultivation equipment and lighting will commence concurrent with completion of the building envelope. Progress reports for the B.C. Facility will be announced and posted on the Company's website when it becomes available.
Health Canada has introduced several improvements that aim to streamline the licensing of medical cannabis producers, which includes prioritising those applicants with built out schedule and issuing license without prior inspection upon proof of completion of built out. As such, the management of the Company believe that Maple Leaf will be able to successfully obtain the Access to Cannabis for Medical Purposes Regulations (the "ACMPR") licence around the end of 2017 as originally planned.
"We are very pleased that we have retained two very capable and experienced consultants; PSI and CCI, to assist us in completing the final stages of obtaining the ACMPR license and for putting us back on track with our time table, despite an unexpected delay in the early part of this year," said Raymond Lai, President & C.E.O. 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 public Canadian company that focuses on the cannabis industry in North America. The Company currently operates 3 cannabis projects in British Columbia, California, and Nevada. With over 10 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.
This press release includes certain statements that may be deemed "forward-looking statements" within the meaning of applicable Canadian securities legislation. Specifically, this press release includes, but is not limited to, forward-looking statements with respect to the streamlining of Health Canada's ACMPR license review process, anticipated approvals of the Company's application for a license under the ACMPR, and construction of the B.C. Facility. Generally, forward-looking statements can be identified by the forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "projects", "intends", "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 statements are 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 statements, 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 jurisdictions where the Company operates generally, income tax and regulatory matters, competition, crop failure, currency and interest rate fluctuations, regulatory approvals including approvals from the Health Canada of the Company's ACMPR license application, and those factors discussed in the sections relating to risk factors of our business filed in the Company's required securities filings on SEDAR. Although the Company has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements will prove accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not undertake to update any forward-looking statements that are incorporated by reference herein, 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