Online, December 7, 2015 (Newswire.com) - CALGARY, ALBERTA - Maple Leaf Green World (TSX VENTURE:MGW) ("Maple Leaf" or the "Company") announces that the two newly designed cold frames announced on October 27, 2015 have arrived at the Company's site. Ground is being levelled to accommodate 4 greenhouses as the Company has determined 2 additional greenhouses will be added on once the growing operation for the first one is streamlined. These 2 greenhouses will be equipped with a lighting system called Induction Lighting System which has been proven that it can reduce lighting cost and increase the yield. Together with the new fertilizing technology we had announced on November 11th, this project will be equipped with the latest technology available nowadays. The growing operation is slated to start right after the greenhouses are erected. A video for the Lighting System and photos of the current site situation will be posted at our old website while the new website is currently under construction.
Closing of Private Placement
The Company confirms the closing of its previously announced non-brokered private placement occurred on November 15, 2016. Gross proceeds of $550,000 were raised under the private placement through the issuance of 11,000,000 Units at a price of $0.05 per Unit. Each Unit was comprised of one common share and one common share purchase warrant. All securities issued pursuant to the private placement are subject to a hold period that will expire on March 16, 2016.
"We are very confident that the California MJ project can produce high yield, low cost, contamination free and high quality marijuana for medical purpose with the latest new technology and expertise we have brought in. Once it is proven successful, we will use the same model in Canada." said Raymond Lai, President & C.E.O. of Maple Leaf.
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.
Source URL: http://www.marketwired.com/mw/release.do?id=2080450&sourceType=3
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