(TSX-V: MGW, OTCQB:MGWFF)
Jan. 30, 2017 –$0.69
CALGARY, Jan. 30, 2017 /CNW/ - Maple Leaf Green World
(MGW-V) ("Maple Leaf" or the "Company") is
pleased to announce that the Company has entered into a formal
purchase agreement with the owner of a vacant site comprising
approximately four (4) acres of land in Henderson, Nevada. This new site is twice as
large as the old site Maple Leaf was initially seeking to acquire
and the purchase price of USD $875,000 is less than 50% of the asking price for
the old site originally targeted by the Company and it is only 2
blocks away from the old site. The increased size of the new site
also provides room for future expansion to a larger facility than
the 33,500 square foot building contemplated by the existing
cultivation permit (the "Permit") held by BioNeva
Innovations of Henderson LLC ("BioNeva"). In addition,
management believes the close proximity of this new site to the old
site originally used by BioNeva to obtain the Permit increases the
likelihood that the City of
Henderson will approve the transfer of the Permit to this
new site. The Company intends to seek preliminary approval for the
Permit transfer before closing the land purchase. Once the
land purchase is completed and while Maple Leaf is waiting for
formal approval of such transfer, Maple Leaf will complete its
acquisition of the Permit through the purchase of 100% of the
shares of BioNeva. The Company believes the substantially lower
cost of its new site in Henderson,
together with the larger area for potential expansion of its
planned facility, will more than offset the additional time
associated with the transfer of the Permit and will also
significantly enhance the future profitability of its Nevada operations.
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.