(TSX-V: MGW)
CALGARY, Oct. 25, 2016 /CNW/ - Maple Leaf Green World
(MGW-V) ("Maple Leaf" or the "Company") announces
that it has retained the services of a San Diego based law firm to assist the Company
in obtaining a cultivation license from the San Diego County under the MCRSA (Medical
Cannabis Regulation and Safety Act) and/or AUMA (Adult Use of
Marijuana Act). This law firm will also assist the Company with the
identification of land parcels in San
Diego County which have a higher likelihood of satisfying
applicable licensing requirements under the MCRSA and/or AUMA.
Currently, Maple Leaf is reviewing several parcels of land to
determine their suitability for the Company's plans in San Diego County.
The sale of cannabis in San Diego
County was approved two years ago and the cultivation of
cannabis was legalized in early 2016. It is estimated that over
100,000 patients under the MCRSA reside in San Diego County, which is also a popular
international tourist destination. These factors, together with
California's upcoming vote on AUMA
in the November election, present the Company with a great
opportunity to advance its expansion plans in California.
"While the harvesting of our first 2 crops is continuing at our
California greenhouse facility and
our investigation of licensing opportunities in Nevada is progressing, the prospect of
acquiring valuable land in the San
Diego area before November
8th is another boost for our expansion plans in
California." said Raymond Lai, President & C.E.O. of Maple
Leaf.
In addition, the shares for debt settlement announced on
September 29, 2016 have received
final approval from TSX Venture exchange. Under the terms of the
settlement, the Company will issue an aggregate of 270,834 shares
from treasury, which will be subject to a four month hold
period.
For further information regarding Maple Leaf Green World Inc.,
please visit the www.mlgreenworld.com. Latest photos for the
on-going harvesting at the Company's California greenhouse facility have been
posted to the Company's 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:
1. 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.
2. 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.
3. 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.