(TSX-V: MGW)
Sept. 28, 2016 –$0.31
CALGARY, Sept. 28, 2016 /CNW/ - Maple Leaf Green
World (MGW-V) ("Maple Leaf" or the "Company")
announces that the first shipment of product from its initial
harvest has commenced. Product shipments will continue for
the next few weeks and Maple Leaf expects the selling price will be
at the high end of the price range previously announced (see news
release dated August 29, 2016).
The Company's second crop has been flowering for two weeks and
the plants are now over six feet in height. It is expected
that harvesting of the second crop will begin in mid-November, with
product shipment taking place on or about mid-December. Once
the harvesting and shipping of the first two crops has been
completed, the Company will be in a better position to provide
revenue projections for 2017 and beyond.
The seedlings for the Company's third marijuana crop will be
cultivated in November, with harvesting expected in March
2017. From 2017 onward, Maple Leaf is targeting six harvests
per year.
"This is a landmark achievement for Maple Leaf and is proof that
the Company's growing methodology is successful. We are ready
to expand our operations both in California and other American states. We
believe we can capitalize on new opportunities available to us,
pending the outcome of the upcoming referenda on the legalization
of marijuana for recreational use in various jurisdictions in
the United States." 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. Photos of 1st and
2nd crops have been posted at our website.
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.