CALGARY, Oct. 5, 2017 /CNW/ - Maple Leaf Green World Inc.
("Maple Leaf" or the "Company") (TSX-V: MGW,
OTCQB: MGWFF) is pleased to announce that, further to the
Company's previous press releases dated June
20 and July 25, 2017, that
BioNeva Innovations of Henderson,
LLC ("BioNeva") has received conditional approvals from the
City of Henderson, Nevada on
October 3, 2017 (together, the
"Approvals") for:
- obtaining a Medical Marijuana Establishment – Cultivation
Facility – Class V (Cultivation) business license for BioNeva for a
facility (the "Proposed Facility") to be located at
2000 Burns Road, Henderson, Nevada
89011 in the Pittman Planning and Eastside Redevelopment Area (the
"Proposed Site"); and
- the requested change of location of the Proposed Facility from
585 North Gibson Road, Henderson,
Nevada 89011 to 2000 Burns Road, Henderson, Nevada 89011 (the "Change of
Location").
The Approvals is subject to certain conditions that BioNeva is
required to comply with all related City
of Henderson building codes. BioNeva, which has already
received a State of Nevada Division of Public and Behavioral Health
Medical Marijuana Establishment preliminary approval letter, will
seek final approvals from the State of
Nevada for the Establishment of the Proposed Facility on the
Proposed Site after this approvals from the City of Henderson.
Upon receipt of final approvals from the City of Henderson and the State of Nevada, the Company will begin the
process of acquiring all outstanding shares of BioNeva (the
"Acquisition"). As contemplated by the letter of intent
entered into between the Company and BioNeva on November 8, 2016 and revised on June 15, 2017, the Acquisition will allow the
Company to complete the purchase of an existing cultivation permit
held by BioNeva.
All architectural and engineering designs and drawings for the
Nevada Site have been completed by a Florida-based engineering company.
Construction of the Nevada Site may begin as soon as the
Acquisition is completed.
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 three cannabis
projects in British Columbia,
California, and Nevada.
With over ten 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. The Company's common shares are
listed for trading on the TSX Venture Exchange under the symbol
"MGW" and on the OTCQB market under the symbol "MGWFF".
Cautionary Statements
This press release includes certain statements and
information that may be deemed "forward-looking statements"
within the meaning of applicable Canadian securities legislation.
Such forward-looking information relates to future events about
Maple Leaf's intended business plans and operations. All
information other than historical fact may constitute
forward-looking information within the meaning of applicable
Canadian securities legislation.
Generally, forward-looking information can be identified by
the forward-looking terminology such as "plans", "expects" or "does
not expect", "is expected", "budget" or "budgeted", "scheduled",
"estimates", "projects", "intends", "proposes", "complete",
"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 information is
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
information, 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
United States of America and the jurisdictions where the
Company operates generally, income and sales tax and regulatory
matters, competition, crop failure, currency and interest rate
fluctuations, regulatory approvals including approvals from
municipal, provincial county, state and federal regulatory bodies
in Canada and the United States of America. Although the
Company has attempted to identify important factors that could
cause results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results to be materially different from those anticipated,
described, estimated, assessed, planned or intended. Accordingly,
such list of factors are not exhaustive. Additional information on
these and other factors which could affect the Company's operations
and financial results are discussed in the sections relating to
risk factors of our business filed in the Company's required
securities filings with applicable securities commissions or other
securities regulatory authorities and which may be accessed through
the SEDAR website (www.sedar.com).
Specifically, this press release includes, but is not limited
to, forward-looking information with respect to obtaining certain
municipal and state approvals and anticipated approval timings
pertaining to the Proposed Facility, Proposed Site, Change of
Location, the construction of the Nevada Site and the timelines
thereof, and completion of the Acquisition and the Existing Permit.
Forward-looking information necessarily involves both known and
unknown risks and uncertainties that could cause actual result to
differ materially from those anticipated, including, but not
limited to: failure to obtain the Approvals for the Proposed
Facility, Proposed Site, Change of Location, or any combination or
all of the foregoing; failure to complete the Acquisition and
obtain the Existing Permit; failure to obtain, in a timely manner,
failure to obtain any regulatory, stock exchange, or other required
Approvals.
Although, the Company believes that expectations and
assumptions reflected in the forward-looking information are
reasonable, there can be no assurance that any forward-looking
information will prove accurate, and actual results and future
events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking information. These forward-looking statements are
made as of the date of this press release and the Company does not
undertake to update any forward-looking information contained in
this press release or that is incorporated by reference herein,
whether as a result of new information, future events or results or
otherwise, except in accordance with applicable securities
laws.
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.