Maple Leaf Green World Inc.

March 10, 2015 18:37 ET

Maple Leaf Acquires Land for Its California Project

CALGARY, ALBERTA--(Marketwired - March 10, 2015) - Maple Leaf Green World (TSX VENTURE:MGW) ("Maple Leaf" or the "Company") is pleased to announce that its wholly owned subsidiary, Golden State Green World LLC, has entered into an agreement to purchase approximately 20 acres of land in southern California for an aggregate purchase price of US$120,000. The Company has agreed to pay US$15,000 in cash, with the balance payable by way of a promissory note secured by a Deed of Trust and bearing interest at the rate of 6% per annum. The maturity date on the promissory note is March 1, 2020. Maple Leaf expects title to the purchased property will be transferred to its subsidiary within the next week, so the Company can start preparing the ground for the construction of the Facility.

This land in California will serve as the site upon which the Company plans to construct the cold frame greenhouses (the "Facility") required to grow medical marijuana plants. Such plants will be used to meet the medical needs of the non-profit Collective ("Collective") in California with which the Company previously announced a joint venture arrangement (see news releases dated January 15th, 2015, and October 28th and November 18th, 2014). With each cold frame measuring about 3,000 sq ft, the 20 acres site is large enough to accommodate future expansion (by way of additional cold frame greenhouses) should the demand from the Collective increase beyond current levels.

"We are excited to find this piece of land that is flat, remote and secured, perfectly set up for the operation and to be able to structure the acquisition on terms acceptable to the Company and the vendor. We have also retained a crew to drill the water well and prepare the ground for construction. Once we can fund the construction of the Facility, we expect it will take about 2 months to complete construction, after which the Collective can start cultivating the marijuana," said President and C.E.O. of Maple Leaf, Raymond Lai.

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About Maple Leaf Green World Inc.

Maple Leaf is a Canadian company that focuses in the agricultural/environmental industry with three main areas of activity:

  1. 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.
  2. 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.
  3. 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 a Canadian MMPR licensed producer status to grow medical cannabis in Canada for domestic consumption and export to approved countries.
  4. California Project - It pursues opportunities within the medical cannabis industry in various States that have legalized marijuana. It is currently joint ventured with a California non-profit collective to set up a growing facility.

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 Maple Leaf that sufficient financing can be raised or that permits will be available to build the Facility at an acceptable price or 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 status of, and ability to capitalize on, opportunities available to the Company and review 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 that may affect Maple Leaf's operations, including, but are 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 licences; 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 transpire or occur, or if any of them do transpire or occur, what benefits Maple Leaf will derive therefrom.

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