Maple Leaf Green World Inc.
TSX VENTURE : MGW

January 28, 2015 16:49 ET

Maple Leaf Green World Inc.: Corporate Update for Medical Marijuana Projects in Canada and U.S.A.

CALGARY, ALBERTA--(Marketwired - Jan. 28, 2015) - Maple Leaf Green World Inc. (TSX VENTURE:MGW) ("Maple Leaf" or the "Company") provides the following update on certain operational initiatives and corporate matters:

Marihuana for Medical Purposes Regulations ("MMPR") Application in Canada

Since the submission of the Application on August 12th, 2014 and Health Canada's requests for additional information on October 6th, October 31st, November 26th and on January 21st, 2015, Maple Leaf has been advised by its consultant that the Company was able to provide information satisfying Health Canada's requests regarding:

  • Standard Operating Procedures;
  • Record Keeping Plan - how information will be recorded, retained and illustrates inventory control from propagation to distribution;
  • Vault and storage security information;
  • Threat Risk Assessment;
  • Security Plan - that provides technical specifications of all security equipment to be used and how that equipment will be employed to prevent unauthorized access; and
  • Additional credentials regarding the Company's proposed Quality Assurance Person.

Maple Leaf continues to work with Health Canada and is currently in the process of providing additional information recently requested by the Department. Management believes that after satisfying the latest information request from Health Canada, the Company will be able to move forward with subsequent stages of the application process.

The Company will provide additional updates to its shareholders when further progress is made in the approval process.

Medical Marijuana Project in California, U.S.A.

The Company has been advised by its Joint Venture Partner Collective ("Collective") in California that it has successfully found a suitable location in Southern California for constructing the growing facility as announced in the Company's January 15th press release. The Collective is in the process of securing the property and construction can be started immediately once the Company has secured the necessary funding.

"Given the good progress on our MMPR application, even though it takes longer than we expected, we can concentrate our efforts and energy on the Company's California project, with the objective of bringing it into operation and cash flow generation later this year," said Maple Leaf President and CEO Raymond Lai.

For further information regarding Maple Leaf, visit www.mlgreenworld.com.

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 lands and permits will be available to build the California facilities 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; available 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.

January 28, 2015 - $0.035

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