Maple Leaf Green World Inc. Receives California Department of Food & Agriculture Approval To Sell Its CBG Hemp Products.
CALGARY, Alberta, Oct. 05, 2020 (GLOBE NEWSWIRE) — Maple Leaf Green World Inc. (“Maple Leaf” or the “Company”) (NEO: MGW, OTCQB: MGWFF) is pleased to announce that it has been granted California Department of Food & Agriculture (“CDFA”) approval for THC testing. THC testing is mandated by the state of California to ensure the crop being harvested does not exceed the legal limit of 0.3% THC. A component of the pre-harvest THC testing involves random samples from any of the Company’s five (5) greenhouses or outdoor grow to be taken by the agricultural commissioner for lab testing. A THC test result exceeding the 0.3% limit would result in an immediate implementation of a corrective action plan which would cause significant delays in harvesting. The Company is pleased to report that the CDFA lab report tested at less than 0.3% THC. With the CDFA approval, the Company can officially sell its La Crème Hemp Products.
Harvest UpdateThe company is continuing to harvest and cure its La Crème. The COA sampling collected on Oct 2, 2020 still indicates a pure CBG flower with the CBG concentration increasing to 15.44% from the previous COA at 13.90%. Although this level of CBG is marketable and higher than most strains on the market, the Company will continue to target the 18-20% range on a fully cured flower.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 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