Online, September 29, 2015 (Newswire.com) - CALGARY, ALBERTA - Maple Leaf Green World (TSX VENTURE:MGW) ("Maple Leaf" or the "Company") announces the following updates for its California medical marijuana project:
The California collective with which Maple Leaf has formed a joint venture (the "Collective") has received a commitment from a medical marijuana dispensary in southern California to buy all of the products from the Collective's first harvest of medical marijuana, expected in the quarter of 2016. In addition, the same dispensary has indicated it will place a product order with the Collective for all of its second harvest.
The installation of utility and water lines on the Company's property in California will be completed this week, whereupon Maple Leaf will make application to the county for a construction permit. Materials and equipment required for the planned construction of two cold frames are expected to arrive at the site in early October. The Company anticipates that its initial growing operation at the site will commence toward the end of October.
In addition, the regulatory scheme for the licensing of the industry has been approved by the California legislature and is expected to become law effective January 1, 2016. By virtue of its joint venture with the Collective, Maple Leaf will have preferred status in applying to the State for its own provisional license.
"We are thrilled that a dispensary has committed to take all the products from our first harvest and also has asked us to grow the strain they want for the second harvest, which guarantees strong demand for our quality products in California. We are also encouraged that California has finally adopted a complete set of medical marijuana regulations, which confirms the viability of our operations," said Raymond Lai, President & C.E.O. of Maple Leaf.
For further information regarding Maple Leaf Green World Inc., please visit www.mlgreenworld.com. Our website has been updated and contains photographs of the latest project developments.
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, 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 for export to approved countries.
- United States Projects - It pursues opportunities within the medical cannabis industry in California and other 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 aims to 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.
Source URL: http://www.marketwired.com/mw/release.do?id=2060053&sourceType=3
Share: