(TSX-V: MGW, OTCQB: MGWFF)
February 22, 2017 - $0.68
CALGARY, Feb. 22, 2017 /CNW/ - Maple Leaf Green World (MGW-V) ("Maple Leaf" or the "Company") is pleased to announce that the Company has received a Distance Separation Analysis ("DSA") from the City of Henderson with respect to Maple Leaf's proposed site for a Medical Marijuana Establishment–Cultivation Facility. The proposed site (see news release dated January 30, 2017) was reviewed by City of Henderson staff for compliance with the City of Henderson Title 19 - Medical Marijuana Establishment distance separation requirements as listed in Table 19.5.5-2 of the Henderson Development Code. Based on the findings in the DSA, the proposed site satisfies the minimum separation standards for protected uses and would be suitable for a Medical Marijuana Establishment – Cultivation Facility within the City's boundaries. The proposed site meets the minimum buffer distance from protected uses as defined in NRS 453A and Chapter 19 of the City of Henderson Municipal Code.
The DSA is the most important step in transferring the existing cultivation permit held by BioNeva Innovations of Henderson, LLC (the "Permit") to the proposed site. As the DSA has been completed, the next steps will require the Company to submit its building plans to the City of Henderson for approval of a Conditional Use Permit ("CUP"). If the Company is successful in obtaining a CUP, it can begin construction on the marijuana cultivation facility on the proposed site.
With the DSA in hand, the Company will now proceed to complete the purchase of the proposed site and to finalize its acquisition of the Permit, through the purchase of 100% of the shares of BioNeva.
"There are only 10 permitted cultivation facilities serving about 27 dispensaries and 6 production licensees in the City of Henderson. Maple Leaf is well on its way to becoming the 11th permitted cultivator in this area (not includes Las Vegas) and we believe attaining this status will add significant value to the Company" said Raymond Lai, President & C.E.O. of Maple Leaf.
Company's 1st Shareholder Reception
Maple Leaf Green World held its first shareholder reception on the evening of February 4, 2017. The event was a great success, with over 150 people in attendance. The Company's management team (including its project managers and chief growers from all three of its existing marijuana projects in Canada and the United States) was in attendance. The video of the event along with an interview with Bubba Kush will be available to view on our website on February 23, 2017.
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 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. 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 applying for a cultivation license in the San Diego area.
- Nevada – The Company is in the process of acquiring 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