(TSX-V: MGW, OTCQB: MGWFF)
May 24, 2017 - $0.50
CALGARY, May 24, 2017 /CNW/ - Maple Leaf Green World Inc. (TSXV: MGW) ("Maple Leaf" or the "Company") is pleased to announce that it has engaged Paramount Structures Inc. ("PSI"), a Calgary based company, for the design, engineering and construction of both of its Cannabis cultivation facilities at Telkwa, B.C. (the "B.C. Facility") and Henderson, Nevada (the "Nevada Facility").
PSI specializes in the design and construction of high performance building envelopes ("HPBEs") for the industrial, commercial and residential sectors. The HPBEs utilize unique materials and construction methods well suited for controlled environment agriculture by being impervious to mold, resistant to water & fire, pest resistant and non-toxic while being highly energy efficient and durable. PSI's HPBEs incorporate modular construction which reduces time to completion relative to traditional construction methods and can be designed for easy future expansion.
For the Company's B.C. Facility, the Company intends to develop the 80,000 sq. ft. facility by two or three phases, with the first phase of 30,000 sq. ft. started immediately and next second and/or third phase to be completed after the Company's application for a license to produce and sell cannabis from Health Canada pursuant to the Access to Cannabis for Medical Purposes Regulations ("ACMPR") has been approved and operation has been streamlined. The Company is currently at Stage 5 – Review with the ACMPR application. The Company is also in the process of formalizing its agreement with Woodmere Nursery Ltd. to revise the original leasing agreement from a lease of the greenhouse facility to a lease of land situated on the premises.
For the Company's Nevada Facility, the Company also intends to develop the 33,500 sq. ft. Facility by two phases, with the first phase of 20,000 sq. ft. to be started immediately and the next phase to be completed after the operation has been streamlined.
A more detailed construction plan for both facilities will be announced once all engineering design has been done.
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 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 news release includes certain statements that may be deemed "forward-looking statements" within the meaning of applicable Canadian securities legislation. Specifically, this news release includes, but is not limited to, forward-looking statements with respect to the development of the B.C. Facility, the Nevada Facility, expected benefits of the Company's engagement of PSI, 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.
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