(TSX-V: MGW, OTCQB: MGWFF)
June 5, 2017 - $0.40
CALGARY, June 5, 2017 /CNW/ - June 5, 2017 – Maple Leaf Green World Inc. (the "Maple Leaf" or the "Company") announces that it will discontinue all future business relations with TheraCann International Benchmark Corporation ("TheraCann") due to billing irregularities and overbilling.
Maple Leaf continues to execute its strategy of diligent deployment of capital, this includes reviewing all requests for payment. Unfortunately, TheraCann's contractual and invoicing practices are inconsistent with their representations. Accordingly, discontinuation of this business relationship is in the best interest of Maple Leaf and its shareholders.
Maple Leaf is reviewing all services alleged to have been provided by TheraCann, and will pursue all necessary legal remedies to ensure the Maple Leaf and related stake holders are protected. Maple Leaf reiterates that the Company continues to work for the best interests of its investors, and in the opinion of management, termination of TheraCann contract is not material to 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 with Company currently operates 3 cannabis projects: B.C. Canada, California and Nevada U.S.A. 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 expected benefits of the Company's engagement of CCI, the streamlining of Health Canada's ACMPR license review process, and anticipated approvals of the Company's application for a license under the ACMPR. 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. The statements in this press release are made as of the date of this press release. The Company undertakes no obligation to comment on analyses, expectations, or statements made by third parties in respect of the Company and CCI and the description of CCI in this press release was provided by CCI.
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