August 29, 2016 – $0.34
CALGARY, Aug. 29, 2016 /CNW/ - Maple Leaf Green World (MGW-V) ("Maple Leaf" or the "Company") announces that it has started harvesting the first crop at its California facility. The first tranche, consisting of approximately 100 pounds of product, is expected to be shipped out in two weeks. Thereafter, the Company expects there will be a tranche to ship out every two weeks until the initial harvest is finished in October. The second crop will be harvested in November in the same fashion as the first crop and this second harvest is expected to continue until December. The selling price for the first tranche is anticipated to be between US$1,400 to US$1,600 per pound. With the target buyers of Maple Leaf's product secured beforehand, a steady stream of revenue should flow to the Company from September until December this year.
In 2017, management is planning for a two month growing cycle, with the first crop expected to be harvested in March and April 2017. In addition, Maple Leaf's management has started planning for further growth in 2017, not only by expanding its present facility, but also by seeking to acquire another property in Southern California.
The California referendum to legalize recreational marijuana will take place on November 8th . Also on election day, four other states (Maine, Massachusetts, Arizona and Nevada) are holding referenda to legalize recreational marijuana.
For further information regarding Maple Leaf Green World Inc., please visit the www.mlgreenworld.com. The website has been updated with photos of the budding plants and the 2nd crop plants of the California MJ project.
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:
- 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.
- 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.
- 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