(TSX-V: MGW, OTCQB: MGWFF)
CALGARY, June 20, 2017 /CNW/ - Maple Leaf Green World
Inc. (TSXV: MGW) ("Maple Leaf" or the "Company") is
pleased to provide the following update of its California and Nevada cannabis operations.
Nevada
Maple Leaf has completed the purchase of four (4) acres of
industrial land in the City of Henderson,
Nevada (the "Nevada Facility") as announced on
January 30, 2017. Management expects
to make a formal application to the City
of Henderson in early July after the architectural blueprint
has been prepared by Paramount Structures Inc. for the Nevada
Facility. The Nevada Facility satisfies the minimum separation
standards for protected uses of the City
of Henderson, and has met the applicable preliminary
requirements for a Medical Marijuana Establishment – Cultivation
Facility as previously announced on February
22, 2017. Management of the Company expects that the
transfer of an existing cultivation permit held by BioNeva
Innovations of Henderson, LLC (the
"Permit") to MGW will be approved by the special committee
of the City of Henderson, and that
the Company will be notified of approval after the special
committee meeting in early July, 2017. Upon approval of the Permit,
pre-fabrication of the 20,000 sq. ft. Nevada Facility is expected
to commence and the installation of the on-site modular building is
expected to be completed by year end.
California
Maple Leaf is preparing for expansion of the Company's
greenhouse facility site in Southern
California (the "California Facility") by ordering a
modular home to be installed. The California Facility will benefit
from the modular home installation to house additional staff
required by the expansion plan.
Maple Leaf is also in the process of acquiring land in
San Bernardino County in order to
apply for a medical cannabis cultivation permit. This is part of
Maple Leaf's expansion plan as the Company awaits for the
legalization of medical cannabis cultivation facilities in
San Diego County. The Company will
not cultivate any medical cannabis in San
Bernardino until all requisite regulatory approvals have
been obtained.
The Company's joint venture non-profit co-operative in
California also reported that they
have realized revenue of approximately US$220,000 from last year. The harvesting of the
first crop of medical cannabis for 2017 is currently underway.
Details of the harvesting and the cultivation plan for the rest of
this year will be announced later when information is
available.
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. The Company currently operates 3 cannabis projects
in British Columbia, California,
and Nevada. 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
medical cannabis operations in Nevada and California, anticipated approvals of the
Company's application for a transfer of the Permit and the timing
thereof, and the anticipated expansion plans of the Company.
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 governmental authorities, 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.
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.