SOURCE: GreenFlag Ventures, Inc.

GreenFlag Ventures, Inc.

January 29, 2016 10:07 ET

GreenFlag Signs Memorandum of Agreement to Acquire 100% Interest in Golden Mile Organics Inc.

VANCOUVER, BC--(Marketwired - Jan 29, 2016) - GreenFlag Ventures Inc. ("GreenFlag" or the "Company") (OTCQB: GFGVF) is pleased to announce it has signed a Memorandum of Agreement (the "Memorandum") to acquire a 100% interest in Golden Mile Organics Inc. ("Golden Mile"). Golden Mile holds an exclusive operator license for systems to be used in Canada for the purpose of processing commercial and private waste, agricultural waste, green waste and organic waste.

Under the terms of the Memorandum, GreenFlag may acquire a 100% interest in Golden Mile through the issuance of ten million (10,000,000) common voting shares, following which Golden Mile will become a wholly owned subsidiary of GreenFlag. Golden Mile's principals will continue to manage and operate the new Golden Mile subsidiary thereafter.

About Golden Mile

Golden Mile plans to build, own and operate a number of BioOrganics Recycling Plants (hereafter the "Plants") in Canada. In addition, the Company will seek joint venture opportunities across Canada to reflect local market conditions and business opportunities.

Golden Mile first aims to build and operate an 80-ton per day capacity plant in the regional District of the Similkamene Valley of British Columbia. Further discussions have been initiated pertaining to establishment of Plants in:

  • The Fraser Valley, BC with a 30,000-ton bio-fertilizer production facility
  • Metro Vancouver, BC with up to a 30,000-ton compost facility
  • Greater Toronto Area, ON with a 17,000-ton vertical farm compost facility

GreenFlag looks forward to providing shareholders with further information on Golden Mile following the completion of the Golden Mile acquisition.

Forward-Looking Statements

Statements in this press release regarding GreenFlag Ventures, Inc. that are not historical facts are forward-looking statements and are subject to risks and uncertainties that could cause actual future events or results to differ materially from such statements. Any such forward-looking statements, including, but not limited to, financial guidance are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not directly or exclusively relate to historical facts. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "could," "would," "expects," "plans," "anticipates," "believes," "estimates," "projects," "forecasts," "predicts," "potential," or the negative of those terms, and similar expressions and comparable terminology. These include, but are not limited to, statements relating to future events or our future financial and operating results, plans, objectives, expectations and intentions. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these expectations may not be achieved. Forward-looking statements represent our intentions, plans, expectations, assumptions and beliefs about future events and are subject to known and unknown risks, uncertainties and other factors outside of our control that could cause our actual results, performance or achievement to differ materially from those expressed or implied by these forward-looking statements.

These forward-looking statements represent our estimates and assumptions only as of the date of this release and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise after the date of this release. Given these uncertainties, you should not place undue reliance on these forward-looking statements and should consider various factors, including the risks described, among other places, in our most recent Annual Report on Form 10-K and in our Quarterly Reports on Form 10-Q, as well as any amendments thereto, filed with the SEC.

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