(TSX-V: MGW)
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.