(TSX-V: MGW, OTCQB: MGWFF)
February 22, 2017 - $0.68
CALGARY, Feb. 22, 2017 /CNW/ - Maple Leaf Green World
(MGW-V) ("Maple Leaf" or the "Company") is
pleased to announce that the Company has received a Distance
Separation Analysis ("DSA") from the City of Henderson with respect to Maple Leaf's
proposed site for a Medical Marijuana Establishment–Cultivation
Facility. The proposed site (see news release dated January 30, 2017) was reviewed by City of Henderson staff for compliance with
the City of Henderson Title 19 - Medical Marijuana Establishment
distance separation requirements as listed in Table 19.5.5-2 of the
Henderson Development Code. Based on the findings in the DSA,
the proposed site satisfies the minimum separation standards for
protected uses and would be suitable for a Medical Marijuana
Establishment – Cultivation Facility within the City's
boundaries. The proposed site meets the minimum buffer
distance from protected uses as defined in NRS 453A and Chapter 19
of the City of Henderson Municipal Code.
The DSA is the most important step in transferring the existing
cultivation permit held by BioNeva Innovations of Henderson, LLC (the "Permit") to the
proposed site. As the DSA has been completed, the next steps will
require the Company to submit its building plans to the
City of Henderson for approval of
a Conditional Use Permit ("CUP"). If the Company is
successful in obtaining a CUP, it can begin construction on the
marijuana cultivation facility on the proposed site.
With the DSA in hand, the Company will now proceed to complete
the purchase of the proposed site and to finalize its acquisition
of the Permit, through the purchase of 100% of the shares of
BioNeva.
"There are only 10 permitted cultivation facilities serving
about 27 dispensaries and 6 production licensees in the City of
Henderson. Maple Leaf is well on its way to becoming the
11th permitted cultivator in this area (not includes
Las Vegas) and we believe
attaining this status will add significant value to the Company"
said Raymond Lai, President &
C.E.O. of Maple Leaf.
Company's 1st Shareholder Reception
Maple Leaf Green World held its first shareholder reception on
the evening of February 4, 2017. The
event was a great success, with over 150 people in attendance. The
Company's management team (including its project managers and chief
growers from all three of its existing marijuana projects in
Canada and the United States) was in attendance. The
video of the event along with an interview with Bubba Kush will be available to view on our
website on February 23, 2017.
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 public Canadian company that
focuses on the cannabis industry in North
America. With over 10 years of 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 applying for a cultivation
license in the San Diego area.
- Nevada – The Company is in the
process of acquiring 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.