Maple Leaf Green World Inc. Announces Private Placement
June 10 2021 - 8:30AM
Maple Leaf Green World Inc. (“
Maple Leaf” or the
“
Company”), (
CSE: MGW),
(
OTCQB: MGWFF), is pleased to announce that it
intends to complete a non-brokered private placement (the
"
Private Placement") for gross proceeds of up to
$1,100,000 through the issuance of up to 20,000,000 units (the
"
Units") at a price of $0.055 per Unit. Each Unit
is comprised of one (1) common share in the capital of the Company
("
Common Share") and one (1) transferable Common
Share purchase warrant ("
Warrant"). Each Warrant
entitles the holder thereof to acquire one (1) Common Share to be
issued on the due exercise of the Warrants (each, a
"
Warrant Share") at a price of
$0.08 per Warrant Share for twenty-four (24) months from the date
of the closing of the Private Placement.
A finder's fee may apply to a portion of the
proceeds raised under the Private Placement of a cash commission
equal to 7% of the aggregate gross proceeds from the sale of the
Units under the Private Placement, and finders’ warrants equal to
7% of the number of Units sold under the Private Placement,
exercisable for Units of the Company. All securities issued
pursuant to the Private Placement will be subject to a four month
hold period from the date of issue. Proceeds from the Private
Placement will be used by the Company for:
- Expansion of the
Company’s current cultivation facility in Riverside, California in
order to accommodate the Joint Venture project with Swissx and
maintain the Company’s current cultivation program of developing a
new Hemp strain;
- Company’s
vertical integration expansion by acquiring another Hemp processing
facility;
- Marketing and
promoting the Company’s Phoenix Crave brand products and;
- Working
Capital.
Closing of the Private Placement is subject to
all customary regulatory and board approvals of the Company.
For further information and updates regarding
the Company, please visit https://www.mlgreenworld.com/.For updates
regarding the California CBG Hemp Project, please visit
https://www.gsgreenworld.com/.
About Maple Leaf Green World
Inc.
Maple Leaf is a public Canadian company that is
focused on the hemp industry in North America. The Company
currently has a hemp project in Southern California. With over 10
years of extensive greenhouse management experience, the Company
applies its eco-agriculture knowledge and cultivation technology to
produce contaminant-free cannabis products. Maple Leaf’s long-term
objective is to produce cannabis oil and to export its products to
approved countries. The Company’s common shares are listed for
trading on the Canadian Securities Exchange (“CSE”) under the
symbol “MGW” and on the OTCQB market under the symbol “MGWFF.”
Forward Looking and Cautionary
Statements
This news release may include forward-looking
statements including opinions, assumptions, estimates, the
Company's assessment of future plans and operations, and, more
particularly, statements concerning: the Proposed Transaction and
the timing thereof; When used in this document, the words "will,"
"anticipate," "believe," "estimate," "expect," "intent," "may,"
"project," "should," and similar expressions are intended to be
among the statements that identify forward-looking statements. The
forward-looking statements are founded on the basis of expectations
and assumptions made by the Company that include, but are not
limited to, the timely receipt of all required regulatory and
third-party approvals, including approvals from the CSE and from
the shareholders of Maple Leaf. Forward-looking statements are
subject to a wide range of risks and uncertainties, and although
the Company believes that the expectations represented by such
forward-looking statements are reasonable, there can be no
assurance that such expectations will be realized. Any number of
important factors could cause actual results to differ materially
from those in the forward-looking statements including, but not
limited to: regulatory and third party approvals, including
approvals from the CSE and from the shareholders of Maple Leaf, not
being obtained in the manner or timing anticipated; the ability to
implement corporate strategies; the state of domestic capital
markets; the ability to obtain financing; changes in general market
conditions; industry conditions and events; and other factors more
fully described from time to time in the reports and filings made
by the Company with securities regulatory authorities. Please
refer to the Company's annual information form ("AIF") for the year
ended December 31, 2020 and management's discussion and
analysis ("MD&A") thereof for additional risk factors relating
to the Company. The AIF and MD&A can be accessed under the
Company's profile on www.sedar.com.
Except as required by applicable laws, the
Company does not undertake any obligation to publicly update or
revise any forward-looking statements.
For further information, please
contact:
Maple Leaf Green World Inc.
Raymond Lai, Chairman, President & CEO+1(403)
452-4552rlai@mlgreenworld.com
Billy Bewcyk, V.P. for Business
Development+1(403) 616-4877wbewcyk@mlgreenworld.com
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