(TSX-V: MGW, OTCQB:MGWFF)
Jan. 16, 2017 –$0.72
CALGARY, Jan. 16, 2017 /CNW/ - Maple Leaf Green World (MGW-V) ("Maple Leaf" or the "Company") is pleased to announce that with the recent notice from Health Canada that Maple Leaf has advanced from Security Clearance into Stage 5 Review, the Company can now start planning the renovation of its 80,000 square foot greenhouse complex in Telkwa, British Columbia in preparation for Pre-License Inspection under the Access to Cannabis for Medical Purposes Regulations ("ACMPR"). The "Permission to Build" notice under the previous regulations has been eliminated.
Section 35 of the ACMPR regulations provides that: "[T]he Minister must, after examining the information and documents required under section 33 [ACMPR Application Guidelines] and after all of the security clearances required by section 34 [Security Clearance Stage] have been granted under section 112, issue to the applicant a producer's license." Accordingly, the Company's current Stage 5 Review status demonstrates the Company is now in the final stages of obtaining an ACMPR license.
The Company has also retained TheraCann International Benchmark Corporation ("TheraCann") to assist in the final stages of the application process. TheraCann offers a one-stop, full-service solution for the International cannabis marketplace. From regulatory applications, planning, facility design, cultivation, marketing and communications, TheraCann provides cannabis-related businesses with solutions to fit their regulatory requirements. More information about TheraCann is available at www.theracanncorp.com.
TheraCann is in the process of reviewing and updating the Company's application to include additional extraction and cannabis oil production requirements to meet current ACMPR standards. Once this process is completed, Maple Leaf expects to begin the renovation of its Telkwa, B.C. facility.
For further information regarding Maple Leaf Green World Inc., please visit the www.mlgreenworld.com.
About Maple Leaf Green World Inc.
Maple Leaf Green World Inc. is a Canadian company that focuses on the cannabis industry in North America. With over 10 years extensive greenhouse management experience, it applies its eco- agriculture knowledge and cultivation technology to produce contaminant -free organic cannabis products . The Company is currently involved in three cannabis projects:
- Canada – The Company has applied for an ACMPR license for an 80,000 sq ft greenhouse complex in B.C. in August 2014 and is now in Stage 5 (Review) with Health Canada.
- California – The Company is in a joint venture with a Non-Profit Co-Op to cultivate cannabis for its members. The Company owns 20 acres of land and has 2 greenhouses in production since September 2016. The site on which the joint venture operates has capacity for additional greenhouses. Maple Leaf is also in the process of applying for a cultivation license in the San Diego area.
- Nevada – The Company is in the process to acquire a cultivation permit for a 33,500 sq ft facility from an existing licensee and has plans for a facility operating in the city of Henderson, 15 miles from Las Vegas.
Maple Leaf's long-term objective is to produce cannabis oil and export its products to approved countries.
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 marijuana industry 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