Maple Leaf Green World Inc. Corporate Update
CALGARY, Alberta, July 15, 2021 (GLOBE NEWSWIRE) — Maple Leaf Green World Inc. (“Maple Leaf” or the “Company”), (CSE: MGW) and (OTCQB: MGWFF), is pleased to announce that it has retained the services of William Rogers and his team to join the Company’s cultivation operation in California as the Operations Manager, replacing the previous cultivation team.
Mr. Rogers has over 18 years of cannabis and hemp experience in oil extraction, product development, genetics breeding techniques, and greenhouse automation design. Mr. Rogers played key roles in several cannabis and hemp operations including his own licensed CBD farm in California that focuses on zero waste and renewable energy sources. Mr. Rogers began growing cannabis for medical use but has since developed a boutique CBD product line of smokables and concentrates derived from his own unique strains.
“My team and I are excited to join Maple Leaf. Their farm is great and similar to operations we’ve managed in the past. I believe we can synergize both our techniques and methodologies to produce a great product and a higher yield,” said William Rogers, Operations Manager – California.
“We are excited to have Mr. Rogers and his team join Maple Leaf. Their ideas align perfectly with our goals and vision. He brings significant industry experience and has the equipment and knowledge in oil extraction that will add great value to the company by allowing us to bring this process in-house,” said Raymond Lai, President & CEO of Maple Leaf.
Contract with Swissx
The Company is also pleased to report that the Swissx crop, Swissx Melon, is showing beautiful growth. The plants will be transferred into larger pots and allocated to the greenhouses later this week. The cultivation team anticipates that they can begin cutting clones in the next few weeks to ensure a consistent supply of healthy female plants. The Company will continue with a staggered planting approach with the first harvest estimated for September.
Phoenix Crave CBG Hemp Cigarette
The Company is expecting its first batch of Phoenix Crave smokable hemp cigarettes from Hempacco to be completed in August. The artwork has been sent for printing and the hemp cigarettes will be manufactured shortly after. Pictures and videos of the production stage will be made available on social media and on the Company’s website.
The Company would like to announce it has closed the first tranche of 2,631,691 units (the “Units”) of the previously announced non-brokered private placement of the Units at a price of $0.055 per Unit (the “Offering”) for gross proceeds of $144,743. The Company also intends to settle debt owing to various consultants and an insider for unpaid invoices by issuing 877,273 Units at a price of $0.055 per Unit for a total debt owing of $48,250 (the “Debt Settlement”). Both private placement and debt Settlement are subject to Exchange approval.
Each Unit is comprised of one (1) common share in the capital of the Company (“Common Share”) and one (1) transferable Common Share purchase warrant (“Warrant”). Each Warrant entitles the holder thereof to acquire one (1) Common Share to be issued on the due exercise of the Warrants (each, a “Warrant Share”) at a price of $0.08 per Warrant Share for twenty-four (24) months from the date of the closing of the Private Placement.
All securities issued pursuant to the Private Placement will be subject to a four month hold period from the date of issue. Proceeds from the closing of First Tranche of Private Placement will be used by the Company for working capital.
For further information and updates regarding the Company, please visit https://www.mlgreenworld.com/.
For updates regarding the California CBG Hemp Project, please visit https://www.gsgreenworld.com/.
About Maple Leaf Green World Inc.
Maple Leaf is a public Canadian company that is focused on the hemp industry in North America. The Company currently has a hemp project in Southern California. With over 10 years of extensive greenhouse management experience, the Company applies its eco-agriculture knowledge and cultivation technology to produce contaminant-free cannabis products. Maple Leaf’s long-term objective is to produce cannabis oil and to export its products to approved countries. The Company’s common shares are listed for trading on the Canadian Securities Exchange (“CSE”) under the symbol “MGW” and on the OTCQB market under the symbol “MGWFF.”
Forward Looking and Cautionary Statements
This news release may include forward-looking statements including opinions, assumptions, estimates, the Company’s assessment of future plans and operations, and, more particularly, statements concerning: the Proposed Transaction and the timing thereof; When used in this document, the words “will,” “anticipate,” “believe,” “estimate,” “expect,” “intent,” “may,” “project,” “should,” and similar expressions are intended to be among the statements that identify forward-looking statements. The forward-looking statements are founded on the basis of expectations and assumptions made by the Company that include, but are not limited to, the timely receipt of all required regulatory and third-party approvals, including approvals from the CSE and from the shareholders of Maple Leaf. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to: regulatory and third party approvals, including approvals from the CSE and from the shareholders of Maple Leaf, not being obtained in the manner or timing anticipated; the ability to implement corporate strategies; the state of domestic capital markets; the ability to obtain financing; changes in general market conditions; industry conditions and events; and other factors more fully described from time to time in the reports and filings made by the Company with securities regulatory authorities. Please refer to the Company’s annual information form (“AIF”) for the year ended December 31, 2020 and management’s discussion and analysis (“MD&A”) thereof for additional risk factors relating to the Company. The AIF and MD&A can be accessed under the Company’s profile on www.sedar.com.
Except as required by applicable laws, the Company does not undertake any obligation to publicly update or revise any forward-looking statements.
For further information, please contact:
Maple Leaf Green World Inc.
Raymond Lai, Chairman, President & CEO