Online, September 8, 2015 (Newswire.com) - CALGARY, ALBERTA - Maple Leaf Green World (TSX VENTURE:MGW) ("Maple Leaf" or the "Company") announces the updates for both of its medical marijuana projects.
California Medical Marijuana Project
Pending receipt of conditional acceptance from the TSX Venture Exchange for its previously announced (see the Company's news release dated September 1, 2015) non-brokered private placement of up to 10,000,000 units ($500,000), the Company has received initial subscriptions for 6,000,000 units ($300,000) of the proposed offering. As a result of the initial response to the offering, the Company is aggressively proceeding with the construction of its growing facility in southern California.
Currently, utility line and water lines are being laid at the site. In addition, materials and equipment required for the planned two cold frames at the site have been ordered. Thereafter, the site will be leveled in preparation for the installation of the cold frames.
Canada MMPR Application
The Company continues to work with Health Canada and is currently in the process of providing additional information in response to a recent request from Health Canada. This ongoing process of providing supplementary information in response to information requests has been continuing for the past seven months. Management believes that after satisfying the latest information request from Health Canada, the Company will soon be in a position to move forward to the next stage of the application process.
For further information regarding Maple Leaf Green World Inc., please visit the www.mlgreenworld.com. The website has been updated with photos for the latest development of both projects.
About Maple Leaf Green World Inc.
Maple Leaf is a Canadian company that focuses in the agricultural/environmental industry with four main areas of activity:
- Canadian MMPR - It pursues opportunities within the medical cannabis industry. If and when a MMPR license is obtained and through an agreement to lease a greenhouse facility with Woodmere Nursery Ltd., it will become a Canadian producer. It is currently seeking Canadian MMPR licensed producer status to grow medical cannabis in Canada for domestic consumption and export to approved countries.
- California Project - It pursues opportunities within the medical cannabis industry in various States that have legalized marijuana. It is currently in a joint venture with a California non-profit collective to set up a growing facility.
- Eco-Agriculture - it pursues several projects around the world. In China, it is focused on growing value-added tree seedlings and nursery products that assist with anti- desertification.
- Renewable Energy - it pursues various renewable energy projects around the world, including Yellowhorn in China which would provide valuable Yellowhorn seeds and ultimately oil from such seeds for the manufacture of bio-diesel fuel and premium healthy cooking oil.
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 agricultural industry (and in particular, the medical marijuana business), 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.
Sept. 9, 2015 - $0.04
Source URL: http://www.marketwired.com/mw/release.do?id=2054139&sourceType=3
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