(TSX-V: MGW, OTCQB:MGWFF)
Jan. 19, 2017 –$0.74
CALGARY, Jan. 19, 2017 /CNW/ - Maple Leaf Green World
(MGW-V) ("Maple Leaf" or the "Company") is
pleased to announce that, after careful consideration of other
options, the Company intends to build a new facility for its
Nevada operations, using the same
site BioNeva Innovations of Henderson LLC ("BioNeva")
employed to obtain its cultivation permit (the
"Permit").
After reviewing many existing industrial properties in
Henderson over the last two
months, the Company was unable to find a property that satisfied
our operational requirements, without major renovations. As such,
management has decided to build a new facility to meet its
specifications and the requirements of the City of
Henderson. Maple Leaf believes that constructing a new
facility will not only save money, but will also save it the time
associated with transferring the Permit to a new site. This
decision will allow the Company to move quickly to acquiring the
Permit, pursuant to the terms of the previously announced LOI (see
news release dated December 14,
2016), through the purchase of 100% of the shares of
BioNeva, the company created to hold the Permit.
The Company is currently in negotiations with the owner of the
vacant site used by BioNeva in its original permit application.
Once this site is secured, the Company will finalize the
acquisition of the Permit from BioNeva as outlined above.
For further information regarding Maple Leaf Green World Inc.,
please visit www.mlgreenworld.com.
About Maple Leaf Green World Inc.
Maple Leaf Green World Inc. is a Canaan 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 an ACMPR license for an 80,000 sq ft greenhouse complex
in B.C. in August 2014 and is now in
Stage 5 (Review) with Health Canada.
- 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 the 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.