(TSX-V: MGW, OTCQB: MGWFF)
CALGARY, July 25, 2017 /CNW/ - Maple Leaf Green World Inc. ("Maple Leaf" or the "Company") announces, further to its press release dated June 20, 2017, that the Company and BioNeva Innovations of Henderson LLC ("BioNeva") have jointly submitted a Medical Marijuana Establishment Certificate (the "Nevada Permit") transfer application (the "Transfer Application") to the City of Henderson, Nevada , pursuant to which officials from the City of Henderson will consider the transfer of the Nevada Permit from BioNeva to the Company. The Transfer Application includes the requisite documents for such application, including architectural blueprints prepared by a U.S. architecture company for Maple Leaf's proposed cannabis production site in the City (the "Nevada Site").
A staff review panel at the City of Henderson (the "Staff Panel") will review and comment on the Transfer Application, including making suggested changes to the proposed design for the Nevada Site. The review is expected to take place between now and the early part of August when the City Council for the City of Henderson (the "Council") plans to meet and consider cannabis permit matters. The Company understands that it and BioNeva will have sufficient time to make any suggested changes from the Staff Panel before the Transfer Application is presented to the Council for approval. Once approved by the Council, the Company expects to commence ordering materials and securing construction contracts for development on the Nevada Site. The Company still expects to finish construction of the Nevada Site by the end of 2017.
The Company retains Big Reach Media, Inc. as its Investors Relations Advisor
The Company also announces that it has entered into an investor relations agreement (the "Investor Relations Agreement") with Big Reach Media, Inc. ("Big Reach") whereby Big Reach will provide certain services to Maple Leaf that may be considered investor relations and promotional activities on behalf of Maple Leaf which require disclosure in this press release pursuant to the policies of TSX Venture Exchange (the "TSXV").
Subject to the approval of the TSX Venture Exchange (the "TSXV"), the terms of the Investor Relations Agreement provide that the Company will pay Big Reach a monthly fee of $5,000. The term of the Investor Relations Agreement commences August 1, 2017 and is for an initial term of 6 months. At the end of the initial term, Maple Leaf and Big Reach may agree to extend the engagement on a month to month basis for a fee of $5,000 per month.
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 review of the Transfer Application and the timing thereof, timing with respect to making any suggested changes from the Staff Panel before the Transfer Application is presented to the Council for approval, the approval of the transfer of the Nevada Permit to Maple Leaf, the construction of the Nevada Site and the timelines thereof, and the anticipated approvals of the Investor Relations Agreement and renewal of the terms thereunder. 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, including Nevada, income tax and regulatory matters, competition, crop failure, currency and interest rate fluctuations, regulatory approvals including approvals from the Council of the Company's Transfer 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; Big Reach Media, Inc. (Investor Relations), Dale Shirley, Phone: (780) 632-6963, Mobile: (780) 964-4732, [email protected], http://www.bigreachmedia.com/