Maple Leaf Green World Inc. Secures a LOI to Purchase CBD Fusions LLC
CALGARY, Alberta, June 22, 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 secured a letter of intent (“LOI”) to acquire all assets; including, but not limited to, brands, sale contracts, inventory, patents, pending patents, trade secrets, and social media handles of CBD Fusions LLC (“CBD Fusions”).
CBD Fusions provides unique, high-quality CBD infused products that fit every kind of lifestyle. Their brands include Ink Cured; a groundbreaking new standard of CBD infused care products specially formulated for tattoo aftercare. Learn more about CBD Fusions and Ink Cured at https://cbdfusionbrands.com and https://inkcured.com.
Acquisition of CBD Fusions delivers a tremendous opportunity to expand the Company’s product line by adding premium brands of CBD infused personal care products. The principal owner (“Principal”) of CBD Fusions will be retained as an advisor and assist the Company with infusing its high quality CBG strains into personal care products. The Principal will be entitled to a 10% royalty from sales on various brands listed on CBD Fusions and Ink Cured websites.
The finalization of the LOI into a definitive agreement is expected to be done within 90 days, and is subject to, among other things, due diligence done on CBD Fusions business, legal and accounting standings.
“We are excited to acquire CBD Fusions. This will accelerate our entry into the personal care space with our high quality CBG. The combination of our premium smokable hemp products, Phoenix Crave and CBD infused care products will establish a solid foundation and drive us forward for future growth,” said Raymond Lai, President & CEO.
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 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 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