(TSX-V: MGW)
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.