Maple Leaf Green World Inc. Signs A Distribution Agreement with Project 7 Group LLC of U.S.A.
CALGARY, Alberta, Feb. 05, 2020 (GLOBE NEWSWIRE) — Maple Leaf Green World Inc. (“Maple Leaf” or the “Company”) (NEO: MGW, OTCQX: MGWFF) is pleased to announce that the Company has signed a Distribution Agreement (“Agreement”) with Project 7 Group LLC (“Project 7”) to promote and sell Maple Leaf’s high quality CBD and CBG enriched hemp seed line.
This Agreement is renewable yearly with 1st year’s sale objective set at a minimum of $10 Million USD by Project 7. Maple Leaf is pleased to welcome Project 7’s team and is excited to have them expedite their domestic and global sales efforts.About Project 7CBD Product FormulationCBD Product ManufacturingCBD Extraction ServiceRaw Hemp and Concentrate SalesSeed and Clone Genetics SourcingCannabis and Hemp FinancingTheir dedicated team of experts ensures the best outcome for projects anywhere along the pathway from seed to finished product sale.Update on Riverside County, California RenovationIn the previously announced press release dated January 21, 2020, the Company stated that each of the two (2) existing greenhouses will be expanded by an additional 1,000 sq. ft. for a total growing capacity of 7,000 sq. ft. In light of this new Agreement, the Company has elected to forego the 1,000 sq. ft. expansion in favour of erecting a brand new 3,000 sq. ft. greenhouse. The new cold frames and canopy are currently en route to the site and will be installed soon after. The total growing capacity, with the new greenhouse, will now be 9,000 sq. ft. The renovation crew has been working diligently to ensure that the greenhouses are properly sterilized and completed by Maple Leaf’s expected timeline. Maple Leaf is pleased to report that renovations are on schedule.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