Maple Leaf Green World Inc. Provides Update on Its California CBG Hemp Project
CALGARY, Alberta, March 30, 2020 (GLOBE NEWSWIRE) — Maple Leaf Green World Inc. (“Maple Leaf” or the “Company”) (NEO: MGW, OTCQB: MGWFF) is pleased to announce that the two (2) renovated greenhouses are complete and fully operational. The land behind the two (2) completed greenhouses has been levelled and prepped for the three (3) additional greenhouses as mentioned in the press release dated March 5, 2020. The three (3) new greenhouses, plus an additional 2,000 sq. ft. greenhouse, had arrived on site as scheduled. Heavy snow falls had delayed construction by about 1-2 weeks but has since resumed. Maple Leaf plans to utilize the 2,000 sq. ft. greenhouse for seed germination, housing mother plants, and crossbreeding strains. The Company’s California team is confident that the four (4) greenhouses will be completed by the end of this week. Furthermore, an additional 10,000 sq. ft. of land has been cleared and levelled for the prospect of adding three (3) more greenhouses, bringing the total greenhouses to nine (9) with a growing capacity of 26,000 sq. ft. Maple Leaf recognizes the popularity and demand for CBG enriched hemp and is preparing for further expansion.
The Company is also excited to announce that 500 seedlings of the popular strain La Crème has been ordered and estimated to be delivered on site within 3 weeks. The supplier is currently germinating the seeds for Maple Leaf and will arrive as 3-4” seedlings to maximize the survival rate during transportation and transplanting. Upon arrival, the plants will be transplanted into the greenhouses to mature for 10 to 14 days. After which, the plants will be propagated by taking approximately 1,000-1,200 cuttings and replanting for a total of 1,500 plants with the extra cuttings placed in the 2,000 sq. ft. greenhouse for cloning.About La Crème CBG StrainLa Crème is a sativa dominant hybrid that emits a low odor and high yielding CBG/CBGa with a 9 to 10 week cycle. It is highly sought after due to its notable 18% CBG concentration with a total of 0.20% THC. Its rich terpene profile embodies both cherry and fruit notes. The cured flowers release a beautiful fresh floral scent that is both pleasant and energizing. The main uses for this strain are hemp cigarettes, health supplements, cosmetics and other skin care products.CBG enriched hemp has been gaining popularity for its perceived medical applications without the psychoactive component. Studies have shown that CBG can improve and/or strengthen the immune system which can provide a major defense against COVID-19.Production Capacity and Market PriceLa Crème is a popular strain due to its high CBG and low THC concentration. The Company intends to harvest either 100% flowers, seeds, or a combination, as there is a tremendous demand for both. The current market prices for cured flowers are between $400 – $800 USD/lb and seeds are approximately $1 USD/seed. With 15,000 sq. ft. of cultivation space, the Company intends to grow 1,500 plants and achieve 3 harvests per year. The Company’s cultivation team estimates that each plant will yield approximately 2 lbs of cured flowers or approximately 10,000 seeds per plant of which 90% will be feminized. The total yearly production is estimated to be approximately 9,000 lbs cured flowers or approximately 1,500 lbs of feminized seeds (1 lb has approx. 27,000 seeds).Health and Safety UpdateMaple Leaf has been closely monitoring the COVID-19 outbreak to ensure the safety of the community and staff. The outdoor nature of its Hemp Project in Riverside California does not require the cultivation team to be in close quarters with anyone outside of the Company. The team is still on site and actively working while operating within the guidelines issued by health officials. At this point, the Company is not aware of any member who has come in close contact with anyone who is suspected or experiencing any COVID-19 symptoms. The Company will continue to monitor the situation and respond accordingly.Henderson, Nevada UpdateThe Company would also like to announce that the land sale in Henderson has been completed with the proceeds being used to develop its California Hemp Project.For further information and updates regarding the Company, please visit its newly designed website at www.mlgreenworld.com.About Maple Leaf Green World Inc.Maple Leaf is a public Canadian company that focuses on the cannabis and hemp industry in North America. The Company currently has cannabis and hemp projects in British Columbia and 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 Aequitas NEO Exchange Inc. under the symbol “MGW” and on the OTCQB market under the symbol “MGWFF.”Forward Looking and Cautionary StatementsThis 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 NEO 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 NEO 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, 2018 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
firstname.lastname@example.orgBilly Bewcyk, V.P. for Business Development