Maple Leaf Green World Inc. Receives A US$2.6 Million Purchase Order from Canna Trading Company Of California, U.S.A.
CALGARY, Alberta, May 27, 2020 (GLOBE NEWSWIRE) — Maple Leaf Green World Inc. (“Maple Leaf” or the “Company”) (NEO: MGW, OTCQB: MGWFF) is pleased to announce that it has received a purchase order from a subsidiary of Canna Trading Company (“Canna”) for 5,000 lbs of La Crème flower and 5,000 lbs of biomass priced at $400/lb and $125/lb, respectively, totaling US$2,625,000. These prices are subject to change based on the market price for the product at the time of shipment. The Company expects to ship these products in July/August when the first harvest of La Crème is complete at its Riverside site.
Canna is a manufacturer and formulator of hemp CBD products in the Central Coast area of California. Established in 2015, Canna began with the development of a CBD vape product line. This helped them to explore more alternative delivery methods of CBD and cannabis for consumers. One of their goals is to provide a clean, pure, and natural product while maintaining affordable prices. This purchase order is their 1st step to developing CGB products for their customers. For more information on Canna, please visit their website at www.cannatrading.co.“We are excited to receive this sizable purchase order from Canna. This marks a major milestone for our CBG Hemp project and for Maple Leaf. We expect to develop a long term relationship with Canna by providing them with high quality CBG products.”
- Raymond Lai, President & C.E.O.For further information and updates regarding the Company, please visit our 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
[email protected]Billy Bewcyk, V.P. for Business Development