(TSX-V: MGW, OTCQB: MGWFF)
May 4, 2017 - $0.56
CALGARY, May 4, 2017 /CNW/ - Maple Leaf Green World (TSXV:
MGW) ("Maple Leaf" or the "Company") is pleased to
announce that it has closed its upsized non-brokered private
placement, which was conditionally approved by the TSX Venture
Exchange (the "TSXV") on April 28,
2017, and previously announced in its press releases dated
March 17, 2017, March 21, 2017 and May 1,
2017. The Company has issued an aggregate of 13,216,070
units ("Units") at a price of $0.55 per Unit for aggregate gross proceeds of
$7,268,838.50 (the
"Offering"). Each Unit consists of one common share of Maple
Leaf ("Common Shares") and one Common Share purchase warrant
("Warrants"). Each whole Warrant is exercisable into one
Common Share at a price of $0.85 per
Common Share until May 4, 2019. The
Offering is subject to the receipt of final approval of the TSXV.
The securities issued under the Offering are subject to a
four-month hold period in accordance with applicable Canadian
securities laws.
The Company has paid to certain finders a fee equal to 7% of the
proceeds raised from subscribers to the Offering introduced to the
Corporation by such finders.
The Corporation intends to use the net proceeds from the
Offering to advance its engineering and construction plans for its
proposed cannabis growing facility in Telkwa, British Columbia. Remaining proceeds,
if any, will be used for general corporate purposes.
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 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 news release includes certain statements that may be
deemed "forward-looking statements" within the meaning of
applicable Canadian securities legislation. Specifically, this news
release includes, but is not limited to, forward-looking statements
with respect to the net proceeds from the Offering and the use
thereof, the completion of the Offering, the receipt of regulatory
approvals and the timing thereof and the anticipated closing date
of the Offering. 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 TSXV for the
Offering, 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.
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.
THE SECURITIES OFFERED HAVE NOT BEEN REGISTERED UNDER THE U.S.
SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD
IN THE UNITED STATES ABSENT
REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS.
THIS PRESS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE
SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THE
SECURITIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION OR SALE
WOULD BE UNLAWFUL.
SOURCE Maple Leaf Green World Inc.