(TSX-V: MGW, OTCQB: MGWFF)
June 5, 2017 -
$0.40
CALGARY, June 5, 2017 /CNW/ - June
5, 2017 – Maple Leaf Green World Inc. (the
"Maple Leaf" or the "Company") announces that it will
discontinue all future business relations with TheraCann
International Benchmark Corporation ("TheraCann") due to billing
irregularities and overbilling.
Maple Leaf continues to execute its strategy of diligent
deployment of capital, this includes reviewing all requests for
payment. Unfortunately, TheraCann's contractual and invoicing
practices are inconsistent with their representations. Accordingly,
discontinuation of this business relationship is in the best
interest of Maple Leaf and its shareholders.
Maple Leaf is reviewing all services alleged to have been
provided by TheraCann, and will pursue all necessary legal remedies
to ensure the Maple Leaf and related stake holders are protected.
Maple Leaf reiterates that the Company continues to work for the
best interests of its investors, and in the opinion of management,
termination of TheraCann contract is not material to Maple
Leaf.
For further information regarding Maple Leaf Green World Inc.,
please visit www.mlgreenworld.com.
About Maple Leaf Green World Inc.
Maple Leaf is a public Canadian company that focuses on the
cannabis industry in North America
with Company currently operates 3 cannabis projects: B.C. Canada, California and Nevada U.S.A. 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. Maple Leaf's long-term objective is to
produce cannabis oil and export its products to approved
countries.
Cautionary Statement
This press release includes certain statements that may be
deemed "forward-looking statements" within the meaning of
applicable Canadian securities legislation. Specifically, this
press release includes, but is not limited to, forward-looking
statements with respect to the expected benefits of the Company's
engagement of CCI, the streamlining of Health Canada's ACMPR
license review process, and anticipated approvals of the Company's
application for a license under the ACMPR. Generally,
forward-looking statements can be identified by the forward-looking
terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "projects",
"intends", "anticipates", or "does not anticipate", or "believes",
or "variations of such words and phrases or state that certain
actions, events or results "may", "can", "could", "would", "might",
or "will" be taken", "occur" or "be achieved". Forward-looking
statements are subject to known and unknown risks, uncertainties,
and other factors that may cause the actual results, level of
activity, performance, or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks
related to the development and operation of the Company's projects,
risks associated with general economic conditions, adverse industry
events, marketing costs, loss of markets, future legislative and
regulatory developments involving medical cannabis, inability to
access sufficient capital from internal and external sources and/or
inability to access sufficient capital on favourable terms, the
medical cannabis industry in Canada and the jurisdictions where the Company
operates generally, income tax and regulatory matters, competition,
crop failure, currency and interest rate fluctuations, regulatory
approvals including approvals from the Health Canada of the
Company's ACMPR license application, and those factors discussed in
the sections relating to risk factors of our business filed in the
Company's required securities filings on SEDAR. Although the
Company has attempted to identify important factors that could
cause results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results to be materially different from those anticipated,
described, estimated, assessed or intended. There can be no
assurance that any forward-looking statements will prove accurate,
as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements. The Company
does not undertake to update any forward-looking statements that
are incorporated by reference herein, except in accordance with
applicable securities laws. The statements in this press release
are made as of the date of this press release. The Company
undertakes no obligation to comment on analyses, expectations, or
statements made by third parties in respect of the Company and CCI
and the description of CCI in this press release was provided by
CCI.
Neither TSX Venture Exchange nor 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.
SOURCE Maple Leaf Green World Inc.