(TSX-V: MGW)
Nov. 15,
2016 –$0.69
CALGARY, Nov. 15, 2016 /CNW/ - Maple Leaf Green World
(MGW-V) ("Maple Leaf" or the "Company")
announces that the propositions on the ballot in the recent US
election for the legalization of marijuana for recreational use
have been passed in four of the five states involved, including
California and Nevada.
According to sources such as CNN Money, these election results
could expand the American marijuana market to $21 billion by 2020, up from $5.7 billion in 2015. Maple Leaf believes it is
well positioned to capitalize on the important business opportunity
presented by the election results through the Company's
California and Nevada cannabis projects.
Nevada Project
In Nevada, the Company's
recently announced 33,500 sq. ft. facility has the capacity to
produce 5,000 pounds of marijuana a year, which (depending on
product pricing) could generate up to US$10
million revenue a year for the Company. In addition,
the Company, as licensee, is allowed to expand the
capacity of its facility if the State determines the demand for
recreational marijuana exceeds supply. According to sources such as
Marijuana Business News, Nevada is
estimated to gain $400 million in
recreational marijuana tax revenue from tourism.
California Projects
In California, the Company's
recently announced application for a cultivation permit in
San Diego has progressed to the
stage of securing a 2.5 acre parcel of land with a 20,000 sq ft
greenhouse and a single dwelling. This property has
sufficient space to build another 20,000 sq ft of greenhouse.
The shipping of the initial harvest from the Company's existing
operation in California is
continuing and Maple Leaf's second crop is ready to harvest
according to schedule. The Company's plan to expand its operations
at its current site in California
from two to a maximum of ten greenhouses is also under way, with
construction work expected to start in early 2017.
According to sources such as CNN Money, the California marijuana market has the potential
to reach $7.6 billion in value by
2020, comprised of an estimated $4.3
billion in sales for recreational use and up to $3.3 billion in sales for medical use.
Canada ACMPR (formerly MMPR)
The Company's application for ACMPR (formerly MMPR) has been in
stage 4 since December 2015. The
Company was advised by Health Canada that its application was
facing additional delays because one of Maple Leaf's directors was
not resident in Canada. Since that time, this director has
resigned from his position with the Company and as a result,
Health Canada has advised management that the Company will advance
to stage 5 of the review process upon receipt of the required
security clearance from the RCMP.
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.