Nov. 8, 2016 –$0.82
CALGARY, Nov. 8, 2016 /CNW/ - Maple Leaf Green World (MGW-V) ("Maple Leaf" or the "Company") announces that it has signed a Letter of Intent ( the "LOI") with BioNeva Innovations of Henderson LLC ("BioNeva") to purchase a cultivation permit for 33,500 sq ft indoor facility (the "Permit") issued by the State of Nevada, and located in the city of Henderson, Nevada, located 16 miles from Las Vegas.
Under the terms of LOI, Maple Leaf has agreed to purchase the Permit from BioNeva for US$500,000, subject to a 50% reduction in the purchase price if the November 8th referendum in Nevada on the legalization of marijuana for recreational use does not pass. BioNeva agrees to transfer the Permit to Maple Leaf within 30 days. In addition, Maple Leaf has agreed to engage a primary member of BioNeva, Bill Monroe, as a consultant to assist the Company with the transfer of the Permit and subsequently, to guide the development of Maple Leaf's operations in Nevada. The Company anticipates that a definitive Purchase Agreement for the Permit together with the associated management consulting contract will be finalized on or about December 7, 2016.
BioNeva was formed by local businessmen, led by Nevada native Dan Larkin. The founders of BioNeva also operate a solar cultivation facility in Carson City, Nevada. Mr. Monroe has been involved in the cannabis industry for the past eight years and over this time, he has developed excellent connections in Nevada for the distribution and sale of cannabis products. He is also a national board member of the National Council of the Cannabis Chamber of Commerce.
"We are thrilled to be able to purchase this cultivation permit so close to Las Vegas at a reasonable price, and we are especially pleased to have the opportunity to engage the services of Bill Monroe to assist us with the development of our operations in Nevada." said Raymond Lai, President & C.E.O. of Maple Leaf.
For further information regarding Maple Leaf Green World Inc., please visit the www.mlgreenworld.com.
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