(TSX-V: MGW)
Jan. 04, 2017 –$0.57
CALGARY, Jan. 4, 2017 /CNW/ - Maple Leaf Green World
(MGW-V) ("Maple Leaf" or the "Company") is
pleased to announce that it has received notice from Health Canada
that its application to become a licensed producer under the
Access to Cannabis for Medical Purposes Regulations
("ACMPR") has progressed to the Review stage, which is Stage 5 of
the seven stages process established under the ACMPR. The
Company is now in a position, among other things, preparing
their facility site at Telkwa,
B.C, with the goal of preparing for a pre-license inspection
by Health Canada.
The Company also like to confirm that it has decided to
terminate the non-brokered private placement of up to $2 million in convertible debentures, which was
announced on December 6, 2016.
Since that announcement, Maple Leaf has determined that other
sources of financing are available to it in sufficient amounts to
allow the Company to fund the proposed expansions of its operations
in Nevada and California.
Further details of the new financing arrangements will be provided
as soon as the terms thereof are finalized.
For further information regarding Maple Leaf Green World Inc.,
please visit the www.mlgreenworld.com.
About Maple Leaf Green World Inc.
Maple Leaf Green World Inc. is a Canadian company that focuses
on the cannabis industry in North
America. With over 10 years extensive greenhouse management
experience, it applies its eco- agriculture knowledge and
cultivation technology to produce contaminant free organic cannabis
products . The Company is currently involved in three cannabis
projects:
- Canada – The Company has
applied for a ACMPR license for a 80,000 sq ft greenhouse
complex in B.C. in August 2014 and
has been in Stage 4 (Security Clearance) with Health Canada since
December 2015.
- California – The Company is in
a joint venture with a Non- Profit Co-Op to cultivate cannabis for
its members. The Company owns 20 acres of land and has 2
greenhouses in production since September 2016. The site on
which the joint venture operates has capacity for additional
greenhouses. Maple Leaf is also in the process of
applying for a cultivation license in San
Diego area.
- Nevada – The Company is in the
process to acquire a cultivation permit for a 33,500 sq ft facility
from an existing licensee and has plans for a facility operating in
the city of Henderson, 15 miles
from Las Vegas.
Maple Leaf's long term objective is to produce cannabis oil and
export its products to approved countries.
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 marijuana industry 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.